Seed to Series A: The Process of Obtaining Second Round Startup Funding

29 Sep

Sportsmanias, a website that is aiming to become the Internet s top destination for die-hard sports fans, got off to a great start in 2013 when the company secured $1 million in seed funding from Bogota-based Mas Equity Partners. One year later Vicente Fernandez and Aymara Del Aguila, the mother and son team that founded the company, told the Miami Herald that they secured an additional $3.5 million in Series A Financing. Jorge Mas, of Mas Equity Partners, said his firm was happy to invest another $3 million into the company after witnessing it quadruple its web traffic from 500,000 to over 2 million unique visitors per month. Mas also pointed to the startup s free app for users to get alerts on professional sports free agency, and its head-to-head feeds that create real-time experiences that make fans feel like they re at the actual games. A second unnamed investor provided an additional $500,000 in funding because of the company s promise. Series A Financing typically comes after a


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