Bookclub’s Series A and Lucidpress Acquisition
Which is better- bootstrapping or VC?
Landon Ainge, Managing Director at Assure Syndicates, said something that I thought was really thought provoking:
“It's interesting how "bootstrappers" look down on those that raise VC money and visa versa. It's really not a better or worse - it's situational. If you can grow and become profitable in the timeline you would like without raising capital that's awesome! If your goals are either bigger and/or faster than what you can accomplish on your own then raising capital is perfect for you.
Ironic thing is that both founders (bootstrappers and VC founders that have exited) end up usually making private investments. This is because of the potential returns and give back associated with angel investing (along with continued learning).
Just like with every aspect of life we all could use a little moderation in our thought process. One side never has all the answers.”
Neither way is the best way. It’s good to keep some perspective.
StartFEST is today! I hope you’re excited because I’m giddy about it. The StartMadness finale will be live on Thursday and it’s going to be great. Get hyped!
Here’s the news in the hive:
Elektrik electrifies
High voltage electrical equipment supplier Elektrik raised a $1M seed round with Album VC. The Utah startup completed the TechStars accelerator program and has seen tremendous growth since then. Not shocking!
Lucidpress gets acquired
Lucidpress, a division of Lucidcharts, was recently acquired by Charles Thayne Capital. The go-to design software enables companies to produce on-brand content at scale, preventing the ever frustrating design bottleneck.
Bookclub secures $20M Series A
After a successful $6M seed round, Bookclub is back with a Series A led by Signal Peak Ventures. Bookclub is a platform that gives readers a chance to engage with authors and have first hand conversations about the books they write.
Tula Health Getting Healthier
Farmington, Utah-based Tula Health raised $24.1 million in debt and equity financing from two venture firms, Springtide Ventures, and Sandbox Capital Advisors. Tula provides healthcare technology that revolutionizes the way we gather and see data for chronic conditions like diabetes, as well as 24/7 support. If that’s not healthy I don’t know what is.
Brilliant idea alert! Automatic downspout extender
Has your basement flooded from a poorly placed downspout coming off your gutter? It’s the worst! Here’s a solution for you: The Autospout. They’re currently running a Kickstarter campaign and you should definitely look into it.
We’re happier than when you smell and tap and roll a watermelon and it turns out to be a good one- to be reporting on startup news in Utah. Do you have something to share? Go ahead and email us at emily@beehivestartups.com or hello@beehivestartups.com.