The Alchemist Accelerator, a San Francisco-based enterprise-focused accelerator, raised $2.1m in funding.
The round was led by Mayfield with participation from Tyco and return backer Cisco.
With the new funding, Alchemist’s operations are funded through Q1 2018.
The Alchemist Accelerator is a six-month program for enterprise startups, with a capped class of 13 companies. The companies receive $30k in funding on average, and are given a structured path toward mentorship, customer development, and fundraising.
Launched in January 2013 by Ravi Belani, Alchemist has seen 3 companies acquired and over 30 companies to raise significant seed or institutional funding rounds. The average raise of these companies is $2m.
In conjunction with the investment, the accelerator has added as Faculty Mentors:
Gary Swart (Former CEO, O’Desk),
Steve King (Former CEO, DocuSign),
Steve Teig (Co-Founder & CTO, Tabula), and
Sean Byrnes (Co-Founder, Former CTO of Flurry).
FinSMEs
22/01/2015