Philly tech startup raises millions in funding
Thanks in part to its various clients and offices in New York and Seattle, Curalate, a Philadelphia based tech company, is getting the investor attention that it deserves. In just a few years, the company has seen growth in its business.
Led by Apu Gupta, Curalate has secured $27.5 million in a new round of venture funding bringing the total to $40 million.
“We’re using it to aggressively hire across a number of disciplines, build new kinds of products that enable us to innovate faster than our completions, and use it to build out a deeper partner ecosystem around the country so that our brands can do more with the imagery they create,” Gupa said in a interview with CBS Philly.
Curalate’s technology deals with analytics that allows users and brands to see what content is driving more engagement for their website.
According to the Philadelphia Inquirer, Gupta announced a $27.5 million investment in Curalate from past investors: New Enterprise Associates, the largest U.S. venture capital outfit, based in Silicon Valley; Josh Kopelman's Philadelphia-based FirstRound Capital; and MentorTech Ventures, which focuses on firms run by Penn grads.
Gupta says the latest cash infusion will pay to double Curalate's tech, sales, marketing, and management staff - now 115 at its Center City headquarters, New York, and Seattle offices to 230 by year's end.
New York and Seattle have larger tech workforces, so Curalate has opened offices there as well. However, Center City remains Gupta’s base.
"Can you build a world-class tech company in Philadelphia? There's a lot of discussion about lack of capital and lack of talent. We really want to serve as an exemplar of the fact that we can do it," Gupta told the Inquirer.