The Bay Area’s meteoric rise as the heart of US venture capital has been extensively documented. And with a banner year of $63.6 billion in funding in 2018, some thought the polished image of the region would never be in question. However, the past two years may be giving some investors pause.
According to Crunchbase, 2019 appeared to be a down year. Firms in the area attracted just under $50 billion, making up 44 percent of total venture funding in the US. That’s down from a 49 percent share in 2018.
With the onset of Covid-19, many startups and investors feared that this slump would continue into 2020 on an accelerated trajectory. However, according to a recent report from Crunchbase, North American investment saw only a slight slow down in the first half of the year. According to the report, firms raised $64.1 billion in the first 6 months of 2020. That’s down from $70.7 million for the same time period in 2019, but still up from the $63.4 million raised in Q1 and Q2 of 2018.
As expected, California was responsible for the lion’s share of that funding. In fact, the $35.5 billion raised in the Sunshine State is off of the 2019 pace by only $600 million. With that in mind, we wanted to turn our attention to some of the most promising start-ups grown in the Bay Area that are in turn creating jobs in San Francisco .
Some many things to do, so little time. Right? Even during a pandemic, it can seem like our lives are as busy as always. That’s where TaskRabbit fits in. Whether you need to fix a running toilet, plant some flowers or need help moving, the Taskers from TaskRabbit will save the day for you. Think of them sort of as your own personal assistant, but for everything life throws at you.
Since 2009, they have raised $37.7 million through seven rounds of funding. The latest funding was August 2015 from a Secondary Market round. They have since been acquired by Ikea.
Anyone who lives in a major metropolitan area can tell you that parking can be the bane of their existence. You might spend an eternity driving in circles trying to find a space, only to find out that it is permit-only. But what if you could persuade those neighborhood residents to lease out those spots on a short-term basis?
SpotOn Parking does just that. Billed as a neighborhood parking alliance, they work with residents in prime San Francisco neighborhoods to provide on-demand hourly parking or monthly subscriptions. Find the perfect spot, and pay for it, all on your phone.
Limousine services without the expense. While the core business model of Wingz may still revolve around getting you to and from your next flight, they are expanding their offering to so much more. From professional driver services for your commute, order pick-ups, shopping and other errands, Wingz will find high quality drivers that will cater to your every need at a fraction of the price of traditional providers.
Founded in April 2011, they have raised $13.7 million through 4 rounds of funding. Their most recent funding was through a Series B round in January 2016.
With the massive growth companies like Uber and Lyft, we’ve seen a surge in the use of delivery drivers and car shares zipping around town. Wrapify saw that as an opportunity for businesses to advertise. The Wrapify model connects business with said drivers to wrap their cars with branded vinyl, creating dynamic out-of-home advertising platforms.
Founded in 2015, they’ve raised $9 million through seven rounds. Their latest haul of $3.3 million came via Series A funding in August 2018.
Deliv provides crowdsourced same-day delivery services for retailers who may not have robust shipping and logistics. Deliv’s technology is easily added to a retailer’s website turning them from a traditional brick-and-mortar outlet to a modern, on-demand online shopping destination.
To date, they’ve raised more than $80 million over 5 rounds of funding – the latest being a Series C round in late 2018. They have since been acquired by Target.
Founded in 2012, FlightCar sought to reduce the amount of idle vehicles in airport parking lots. Their idea was simple – while you’re away on a trip, let someone visiting your city borrow your car.
They’ve raised more than $40 million in funding through 2015, before being acquired by Mercedes Benz in 2016.
In 2016, a group of educators paired up with a team of tech wizards to create a platform that helps people start infant and toddler preschools in their own homes. Be it a condo, single-family home, rented or owned, Wonderschool provides assistance in licensing marketing and more.
Having raised $24.1 million through six rounds of funding, Wonderschool currently sits at the 20th spot in Crunchbase’s ranking of companies.
Are you looking for an authentic taste of a city? Do you love an intimate guided tour of all the best hotspots? Sidewalk provides an app-based guide to a variety of cities, with insider tips and pre-paid meals. Get the best of what New York, LA, Seattle and other cities have to offer with the app.
Any parent can tell you that packing for vacation with a child can feel like you’re bringing the entire house with you. You need to remember the strollers, car seats, bathing needs and more. If you are hopping on a flight to your destination, things get even more complicated. The team at BabyQuip wants to make things easier.
They set about to allow parents to pack lighter by renting baby gear from other parents who live near their vacation destination. All items are clean, safe and insured, so parents can enjoy that trip just a little bit more.
BabyQuip has already raised more than $3 million dollars since their founding in 2018, and they’ve been featured in a variety of media including the hit show Shark Tank.
On-demand valet parking with drop off and pickup anywhere. That’s how Luxe is going to make you fall in love with parking. Their team of pre-screened valets will meet you, wherever you are, and securely park you car. They’ll even give it a wash and fill the tank if you ask.
After raising $75.5 million in funding through just three rounds through April 2016, they were acquired by Volvo Cars Group.
One interesting aspect of all these firms is their utilization of the gig economy to achieve results. From the handy-man-on-demand model of TaskRabbit to baby gear rental of BabyQuip, these firms are leveraging the flexibility and profitability of independent gig workers to help sidestep any Covid-19 induced economic downturn.
If you’d like to learn more about the gig economy, including how other startups have fared during the pandemic, visit us at AppJobs.com.