Stage 2 Capital launches $80M Fund II targeting B2B software startups – TechCrunch

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Boston go-to-market enterprise capital agency Stage 2 Capital kicks off its second fund with plans to take a position $80 million into B2B software program firms.

The agency’s strategy combines enterprise capital experience with a various group of over 250 restricted companions and go-to-market consultants who work with portfolio firms to speed up income progress.

Agency co-founders Jay Po, a former investor at Bessemer Enterprise Companions, and Mark Roberge, former chief income officer at HubSpot, began Stage 2 Capital in 2018.

Whereas at Bessemer, Po instructed TechCrunch he met startup founders who weren’t certain scale income or construct a sustainable gross sales machine. He noticed how large the abilities hole was in go-to-market (GtM), so on nights and weekends he took lessons on gross sales growth to raised perceive what was happening.

On the identical time, Roberge was on school at Harvard Business College and was consulting startups. He, too, noticed founders wrestle to construct out their GtM operate, a lot in order that gathered a bunch of knowledge factors and put all of them collectively in a guide, “The Gross sales Acceleration System: Utilizing Knowledge, Expertise and Inbound Promoting to go from $zero to $100 million.”

Stage 2 Capital group. Picture Credit: Stage 2 Capital

Po stated the agency “was digital earlier than it was cool,” which is the way it has been in a position to put money into various geographies and set its personal tempo by way of curating its community and making introductions.

Their aim is to coach startups on the proper time to scale. Whereas startups needs to be rising 100% or 200%, many startups scale prematurely as a result of they see sure firms expertise large progress abruptly and assume that’s the technique to do it, Roberge stated.

“We discover firms soar into that set of targets prematurely and should not prepared for it,” he added. “We assist them to grasp when and how briskly they will go. They’re usually that prior success, however should not appreciating the context, like who the opposite firm was promoting to and the setting at the moment.”

Po and Roberge launched their first fund in 2018, elevating $15 million, and ended up making 11 investments in late-seed stage to Collection A firms and amassed a community of 97 LPs from firms like Gong, Procore, Atlassian, Asana and Drift. The agency desires to help firms in altering the world, however Roberge stated that can take some time, and that friends have been impressed with the early alerts of the funding thesis.

Investments from the primary fund embody firms hailing from throughout america, together with Sendoso, Ocrolus, Gosite and Reibus.

“Stage 2 Capital stands out from all different VCs due to the experience and partnership Jay, Mark and the LPs carry,” stated Kris Rudeegraap, founder and CEO of Sendoso, in a written assertion. “They’ve exceeded expectations on delivering what they promised and we’ve elevated our income virtually 10 instances within the brief time since they invested.”

The agency’s second fund represents a five-time enhance in funding capital, Po stated. He expects to have the ability to put money into one other 20 firms with a mean verify measurement of $2 to $three million. The pair have already made seven investments up to now, together with DeepScribe, Arcade, QuotaPath and Gross sales Affect Academy.

 

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