Convenes 30+ VC firms to name top 50 startups that serve small and medium-sized businesses
GGV Capital, a global venture capital firm, launched its inaugural SMBTech 50 today in collaboration with Crunchbase. The SMBTech 50 is the first list to recognize the growth and potential of startups that serve small and medium-sized businesses (SMBs). The list (https://smbtech50.com/) demonstrates both the breadth and depth of this sector and the enthusiasm of venture capital investors for these companies. The launch will be celebrated at the Nasdaq MarketSite.
SMBTech 50 honorees have raised a cumulative $10 billion in financing, with 75% of the companies raising a new round in the last 12 months. Vertical SaaS and fintech make up top two categories. The list represents both early- and late-stage private companies.
SMBs employ more than 60% of the U.S. workforce, and there are more than 30 million SMB companies in the U.S. With more than $500 billion in public market value today, the SMBTech ecosystem is emerging as an innovative, high-growth investment sector. Companies such as RingCentral, Shopify, Square, Wix, and Zendesk, and recent IPOs, such as Freshworks, Squarespace and Toast, are powering the digitization of small businesses. During the pandemic, every small business realized the need for these tools and applications such as contactless payment, online ordering, improved supply chain management, a core software stack, and more.
“Our mission for the SMBTech 50 is to recognize the world’s rising stars in SMBTech, and we are thrilled to congratulate the honorees of the SMBTech 50 and their passion for serving the small and medium-sized business community,” said Tiffany Luck, investor at GGV Capital.
Methodology
More than 200 SMBTech companies were nominated or identified through research on Crunchbase. To ensure a representative and inclusive list, GGV identified and asked for nominations across both early- and late-stage SMBTech companies. More than 30 venture capital firms added companies to the list and participated in the voting process of the aggregate list. The 50 companies to receive the most votes were SMBTech 50 honorees. To qualify as SMBTech, a company has to serve customers with less than 1,000 employees or less than $1M ARR.
The SMBTech 50 honorees will also be recognized on Crunchbase. Anyone with a Crunchbase Pro account can follow the list and track the companies here.
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