Record-breaking growth was the talk of the conference — how can startups prepare for hyper-growth?
As we listened to speaker sessions and strolled the Web Summit expo floor last week, it seemed that wherever we went, we heard more news about the latest hyper-growth climate tech or cryptocurrency startups. Fast forward to Day 2, the Pitch Stages came alive with founders pitching their companies to a panel of judges, of which half were either in the cryptocurrency or the climate technology space.
This shouldn’t be a surprise, however, and really goes to show that Web Summit is a microcosm of what’s happening in startup ecosystems around the world. According to Pitch Book, VCs invested $30.8 billion in climate-focused startups in the first nine months of 2021. During the opening ceremony of Web Summit, the CEO of Sorare (a French NFT business) spoke about the company’s experience in reaching a $4.3B valuation in just two and half years since incorporating. This included a record-breaking $680 million round this year.
All this buzz about the enormous growth these two sectors are experiencing made us wonder– are startups in hyper-growth categories setup to manage all these new stakeholders?
At WE.VESTR, we work with startup founders every day to simplify how they report to shareholders, reward equity to their employees, and ultimately prepare for moments like fundraising or rapid scaling. With the company’s cap table, financials, KPIs, legal documents and an equity reward structure all centralized in a single platform, we think startups are better prepared for what comes next — whether that’s the launch of an MVP or raising a Series A after closing a Seed round 6-months earlier ?