D.C. startup Hatch Apps added to its funding total for the year with $300,000 from the Rise of the Rest Seed Fund, according to CEO Param Jaggi.
As we previously reported, the Rise of the Rest Seed Fund was launched earlier this year by D.C.–based Revolution, the venture capital firm founded former AOL executives including Steve Case and Ted Leonsis. Like the bus tour with which it shares a name, the fund aims to draw resources to areas outside California, New York and Boston, which receive the bulk of the venture capital.
“It’s a huge step for Hatch to receive funding from the Rise of the Rest fund. Since I moved to DC three years ago, I’ve been continuously inspired by entrepreneurs like Steve Case and Ted Leonsis who paved the way for technology companies like ours,” Jaggi said. “We’re looking forward to working closely with the fund to continue to empower businesses all over the country.”
The Rise of the Rest Seed Fund is backed by big names in tech and entrepreneurship like Amazon’s Jeff Bezos, Alphabet’s Eric Schmidt, Sara Blakely of Spanx, former Facebook President Sean Parker and former HPE CEO Meg Whitman.
The new investment brings the company’s total to $2.175 million.
Founded in 2015 by Jaggi and COO Amelia Friedman, Hatch Apps makes a platform to help organizations build, launch and manage apps without having to write code. It’s designed to make the process faster and cheaper than other options.
The Y Combinator Fellowship company previously announced a $1.3 million seed round in February and moved into a new office. Last month, the company was accepted into Morgan Stanley’s Multicultural Innovation Lab, an accelerator which is providing funding and access to resources through the financial giant’s network, as well as a sales presence in New York.
Growth in sales will be an immediate focus, Jaggi said, as the company is looking to build a sales team. The company will also look to continue to grow its engineering team.
“Hatch Apps is a tool that offers more convenience and control for businesses interested in building high quality software,” JD Vance, Managing Partner of Revolution’s Rise of the Rest Seed Fund, said in a statement. “It is another great example of a company outside of Silicon Valley seeking to transform an existing market.”-30-
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