Snapwire is excited to announce that we have been accepted into the notable Alchemist Accelerator! This is a great opportunity for Snapwire, as the Alchemist is one of the top accelerators in the country according to Tech Crunch.
Start-up accelerators help entrepreneurs get on their feet and grow successful companies. The Alchemist Accelerator is a venture-backed initiative focused on accelerating startups whose revenue comes from enterprises (not consumers). Seeding around 40 start-ups each year, they have backed companies such as Wise.io, Dropbox, UPSHOT, Neoreach, and CryptoMove. Investors in the Alchemist Accelerator program include Citrix, Cisco, Founders Fund, Redpoint, Salesforce, Voyager Capital and Lowe’s.
Snapwire is 1 of 17 companies that was accepted into the highly selective six month program. The program provides $36,000 of investment, an association of high potential founders, sought after mentors, customer development, and a structured path to fundraising. The numbers from graduated companies show that the program can be very beneficial. Alchemist accelerators have seen over 80% of the companies they work with go on to close an institutional round within 12 months of graduating from the program.
One of the most exciting parts of the program is Demo Day, an event in which a founder from each company pitches a room of venture capitalists. The objective is to impress an investor and receive a round of growth funding.
We're honored to be in the program and think it will be extremely valuable to us as we gear up to scale and grow. We wanted to thank everyone in our community who believes in our vision. We can't wait to see what the future holds!