A Hungarian company is part of the world’s greatest investment programme
According to forbes.hu, the world’s best-known incubator and investor, Y Combinator recently published the list of companies for their actual semester. Startups that take part in their programmes belong to the absolute forefront of the world and this year, a Hungarian team, Bitrise, is among them for the first time.
The world’s most successful investor company, Y Combinator launches two, three-month-long incubator programmes every year for the most promising startups of the technological sector. The chosen startups move to the Silicon Valley, receive investment, and unmatched professional help, relations. The programme is ended by a Demo Day, where startups can present their products to the world’s coolest venture capitals investors.
Since its foundation, the incubator has invested in almost 1500 companies, whose joint assessment reaches 80 billion dollars. This includes 10 unicorns, in other words companies with an assessment that exceeds 1 billion dollars, like Dropbox, Airbnb, Reddit or Stripe. It’s by no accident that the tech world’s venture capital investors keep track of the development of new teams arising from Y Combinator and that the majority of them finish the programme with term sheets of new investments.
So this is a huge opportunity for the team of Bitrise. The company, founded in 2014, is developing a software, which facilitates and makes the life of mobile application developers more efficient, meaning that it saves money, time and resource for technological enterprises and developers themselves.
Their partners include companies like Foursquare, Invision, Plangrid and Product Hunt. The team received the first investment from Fiedler Capital, an investor company focused on startups in their beginning phase in the Eastern-Central European region.
Bitrise got accepted to Y Combinator’s programme two months ago. “The biggest advantage of Y Combinator is the incredible relationship network, which opened up before us. New doors that can radically better our business development and growth opportunities from day to day. Moreover, the unbelievable pace set here by everyone should be highlighted as well. All participants try to produce better and better rates and growth from week to week” said Barnabás Birmacher, the cofounder of Bitrise.
The programme hasn’t ended yet, the founders and a part of the team is still working hard at the Mountain View base, so that they can present as many results at the closing event on March 20-21 as they can. We’ll surely hear a lot about them in the upcoming period, since serious investors are already interested in them, and the team plans on expanding its engineer guard in Budapest significantly in the upcoming months.
Photos: www.facebook.com/Bitrise, BarnabásBirmacher