Twilio and 500 Startups Announce Twilio Fund Europe 2013
New micro-fund focuses on seed funding for European startups who use Twilio
LONDON, March 1, 2013 /PRNewswire/ -- Twilio (http://www.twilio.com), the cloud communications company, and 500 Startups, today announced Twilio Fund Europe 2013, a new micro-fund for Twilio powered startups from Europe and surrounding countries. In addition, the 2012 Twilio Fund finalists have been announced, closing out last year's fund.
The new Twilio Fund Europe, announced today on stage at London Web Summit 2013 by CEO Jeff Lawson, will provide seed funding to startups throughout Europe making use of Twilio's cloud communication web service APIs. As with the original US-based fund, Twilio Fund Europe will be managed by 500 Startups (http://500.co/) founding partner Dave McClure, an investor with experience managing platform funds. McClure previously managed the 2009 fbFUND Rev on behalf of Facebook, Accel Partners, and Founders Fund.
"I'm being Captain Obvious to say that that there is incredible innovation happening in Europe. Entrepreneurs in those countries often have limited access to venture capital," said Dave McClure, founder 500 Startups. "We're already investing actively all around the world, Europe included. So we're pumped to be continuing with Twilio Fund Europe."
In addition to the upfront investment from 500 Startups, successful applicant companies will also receive free Twilio credits to be used as they see fit, as well as an all expenses paid trip to San Francisco to feature at Twilio's own annual conference, TwilioCon. Supported startups will also benefit from publicity support via Twilio's PR and Marketing.
"It is our pleasure to continue to work with 500 Startups on the Twilio Fund," said Twilio CEO and Co-founder Jeff Lawson. "We are very enthusiastic about the level of quality we see among European entrepreneurs. We can't wait to see what they build."
Companies eligible for Twilio Fund Europe will be either building or about to launch a product or service powered by Twilio's web service APIs. They must be privately held, less than five years old, and have to date received less than $1m in funding.
Twilio Fund has made over a dozen investments to date, including the 2012 finalists, announced Wednesday on the Twilio blog; Babelverse, Call Loop, Healthsouk, Sessions, and Wedgies. Previous recipients include TalkDesk, Mobonics, FastCall, Magnolia Prime, OrderMapper, Turnstar. Twilio Fund is a microfund created by 500 Startups and launched in September 2010 to provide seed capital to startups built on the Twilio cloud communications platform.
500 Startups and Twilio will be looking for applicants that display a combination of talent, innovation and creative use of the Twilio API. Submission criteria will include:
- Founder experience and background
- Early market traction
- Innovative use cases targeting real issues in its respective industries
- Creative application of the Twilio API and platform
From today, aspiring startups are invited to apply for Twilio Fund Europe 2013 through the following form. Submissions are due by 07:59 CET / 06:59 GMT 1st May, 2013: http://www.twiliofund.com/apply-to-twilio-fund/
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