Today LeadPages announced their $5M Series A raise that was led by Foundry Group with participation from us at Arthur Ventures. We couldn’t be happier about this partnership with Clay and Seth!
Seth wrote a great post this morning with Foundry’s thoughts around the company and the market, which has a ton of overlap with our sentiments so I’d rather focus on why we were drawn to Clay and his team.
Most of the entrepreneurs we meet have an active need for capital, are either pre-revenue or have a handful of customers that they hope can prove out their larger vision and are in the process of building out their team. This is totally fine and we absolutely fund companies that fit this profile, but it helps explain why LeadPages immediately stood out.
Although LeadPages’ ability to successfully bootstrap a business that was adding hundreds of customers a month set it apart, it was really our confidence in Clay and the cohesion of his team that gave us the feeling that this is something we at AV had to be a part of.
When we first met Clay, we were impressed by the creativity of how he built the business, his clear market vision and the passion that he had for the success of his customers. As we spent more time with the company, it was clear that these same traits were deeply instilled in Clay’s co-founders Tracy and Simon, as well as the rest of the LeadPages crew. The way the team interacted, talked about each other and acknowledgment of each other’s strengths and weaknesses was something we don’t see often enough.
We’re hoping that this partnership between LeadPages, Foundry Group and Arthur Ventures provides an extra catalyst for the company as they continue to build upon the strong foundation they had already set in place.
The AV Team