Los Angeles-based venture firm Backstage Capital announced today the companies it selected for its three-month, multi-city accelerator program aimed at underserved founders.
In the Philly iteration of the program, six companies will spend three months receiving mentorship and connections to other investors, and Backstage will invest between $25,000 and $100,000 in capital into the startups. In addition to Philadelphia, the program will also take place in London, Los Angeles and Detroit.
“The city of brotherly love is ready to embrace a remarkable group of up-and-coming companies focused on convenience and confidence as Backstage Philadelphia welcomes its inaugural cohort,” said Liz Brown, managing director of the local accelerator, in a Medium post. “These companies will go through 3 months of consulting, development, and financial guidance before joining the ranks of Backstage Headliners. Our crew could not be more excited to support the founders as they grow.”
Here are the companies on tap to join the local program:
- Dressmate — A peer-to-peer clothing rental marketplace for college students.
- Hale — A connected vaporizer pen that lowers nicotine intake over time in a bid to curb smoking addition.
- Please Assist Me — A provider of on-demand assistant staff to help with household chores and errands
- Tressenoire — Offers beauty services on demand, currently focusing on corporate clients.
- WashLB — An app-based car care and detailing service
- WhoseYourLandlord — An online platform offering apartment listings and landlord reviews aimed at the millennials.
“We received and reviewed more than 1,800 applications from hard-working founders, and today, we’re excited to share the remarkable 25 companies who will be joining us in Accelerator Cohort 1,” said in a Medium post Christie Pitts, who heads Backstage Accelerator for the firm.
During Philly Tech Week 2018, we heard from Backstage Capital founder Arlan Hamilton, who said the firm’s investment thesis (backing founders from underrepresented groups) was both the right thing to do, and a sizable economic opportunity.-30-