UpWest Labs Hits Major Milestone of $50M in Follow-On Funding As Its Latest Batch of Ambitious Startups Gets Underway
Leading Israeli-American accelerator tallies exits and funding for program alumni such as Honeybook and SentinelOne
“There is an incredible amount of technical and entrepreneurial talent in Israel, and we are thrilled to act as a bridge for early startups to access the U.S. market and grow incredible businesses.”
UpWest Labs, the leading U.S. accelerator that brings aspiring Israeli early-stage companies to Silicon Valley, today revealed impressive momentum for its fund thus far in 2014. UpWest Labs recently reached $50 million in follow-on funding for its portfolio startups, bolstered by recent Series A rounds for Honeybook ($10M) and SentinelOne ($12M). Funding has been culled from leading venture funds such as Accel Partners and Tiger Global, among many others, as well as angel investors like Ev Williams and Naval Ravikant. These milestones for the two-year-old accelerator highlight its successful approach to bringing ambitious, early-stage Israeli companies to the U.S.
In addition, UpWest Labs companies have tallied three new exits in 2014, with Gartner acquiring Senexx, Priceline acquiring Qlika, and Google acquiring SlickLogin. Lastly, UpWest Labs companies have now successfully raised north of $1M in seed funding, on average, with over 70 percent of its companies receiving follow-on seed funding after the program.
UpWest Labs continues to support innovative entrepreneurs and companies with its latest class of outstanding companies, which is now underway at its Palo Alto, California headquarters. These startups are innovating in the areas of developer tools, ad tech, genetic data management, language learning, mobile security, 3D design and large-scale data integration.
“We could not be more excited as UpWest Labs’ momentum grows, as new milestones are reached, and as new batches of ambitious Israeli companies come to Silicon Valley,” said Shuly Galili, co-founder of UpWest Labs. “There is an incredible amount of technical and entrepreneurial talent in Israel, and we are thrilled to act as a bridge for early startups to access the U.S. market and grow incredible businesses.”
Venture funds, angel investors, and members of the startup community who are interested in learning more about UpWest Labs should visit www.upwestlabs.com
About UpWest Labs
UpWest Labs is an accelerator launched in 2012 that offers a 4-month program in Silicon Valley’s highly competitive and dynamic environment. The accelerator works with Israeli entrepreneurs seeking to successfully innovate and grow their startups. UpWest Labs provides the essential ingredients for success: proximity and access to market and capital, a supportive community of talented peers, and a workspace conducive to rapid development & deployment.
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- Kayvan Farzaneh
- PR for UpWest Labs
- UpWest Labs
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