Company Size
6 - 10 People
Year Founded
2013
About 9Mile Labs
Background
9Mile Labs started in January 2013 as a mentoring-focused enterprise/B2B startup accelerator in Seattle. The objective was to help companies build a business that was scalable, repeatable and profitable with the ideas they brought to us.
Since our founding in 2013, we have run 6 cohorts and invested in 59 pre-seed stage companies as part of the accelerator program. Many of these companies have gone on to raise subsequent rounds of funding while making great progress on their product and customer acquisition goals. The aggregate book value of our portfolio has consistently increased over the years as has the aggregate annual revenues of the portfolio companies.
The Pivot
In October 2016, in an effort to scale up the number of investments per year and reduce our overhead, we discontinued the accelerator program. Instead, we partner with top accelerators across the country to invest in their best startups.
Key elements of the new investment strategy are
- Invest in enterprise startups that are just entering their respective accelerator programs
- Make small investments of $50-100k in each company at a valuation of $1-3M
- Invest in companies with complete teams consisting of 3 roles - hacker, hustler and visionary
- Pick companies that have either growing revenue or demonstrated evidence of deep customer validation, such as Letters of Intent (LOIs).
Financials Beta
Business Model: Not Specified
Revenues: Not Specified
Expenses: Not Specified
Debt: Request
Operating Status: Active
Funding Raised: $0
Investment Rounds: 0 Rounds
Funding Stage: Not Specified
Last Funding Date: Not Specified