Internxt is incredibly proud to announce that it has closed an investment deal with one of the most important VCs worldwide, TheVentureCity. This funding includes €100,000 in cash and an approximate €80,000 that’ll come as a reduction in costs Internxt often incurs using services such as Amplitude, Segment, Stripe, Drift, HubSpot, IBM Cloud, Zoho, ZenDesk, SendGrid; and of course, the intangible value of their unique acceleration program. In exchange, Internxt seeks to give TheVentureCity a 6% stake in the company, thus valuing the company at €3M.
TheVentureCity is a venture capital and growth accelerator based out in the United States, that helps startups achieve global impact. TVC is led by an international dream team, with experience in hypergrowth tech companies, and inspired by the need for transparency, diversity, and fairness in the industry. This €180,000 seed investment is, therefore, an addition to the +€250,000 seed round Internxt closed earlier this year at a €2M valuation.
Internxt is also part of Lanzadera’s startup acceleration program, as well as CEEIs (European Institute for Innovative Companies) acceleration program. Thereafter, further seed funding might be added to the company within the upcoming months.
Only 40 high-potential startups are selected a year to work with TVC’s Dream Team to prepare them for rapid growth. The 5-month program has a strong emphasis on product, growth, engineering, and data; and it supports other key areas such as fundraising strategy, internationalization, talent/culture as well as institutions and media connections.
TheVentureCity has invested in companies like Cabify, Peoople, Airning, and more. Internxt plans to achieve hypergrowth in 2021, and prepare for a Series A investment round in 2022, aiming at a €10M valuation.
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