Text Blaze Secures $3.3 Million Seed Funding

Text Blaze, a recent graduate of the Winter 2021 Y Combinator accelerator program, has announced the successful completion of a $3.3 million seed funding round. The investment was spearheaded by Villi Iltchev of Two Sigma Ventures and Leo Polovets from Susa Ventures.

Combining Automation and Writing Assistance

The company’s core offering represents a convergence of two prominent trends observed by TechCrunch: the increasing adoption of automation technologies and the growing demand for writing support tools. The rise of platforms like Zapier demonstrates the widespread appeal of automation, while solutions such as Grammarly and Copy.ai highlight a willingness among users to invest in tools that enhance their writing skills and efficiency.

Key Features of Text Blaze

Text Blaze provides two primary functionalities. Firstly, its Chrome extension empowers users to store frequently used text “snippets” for swift insertion into emails and other documents. For instance, a user could save a standard podcast introduction to a designated shortcut, streamlining the scriptwriting process.

Beyond simple snippet storage, the product also supports template snippets with customizable fields. This allows users to create reusable text blocks, pre-populated with placeholders for specific details like names or unique data points, significantly reducing repetitive typing.

Integration with External Services

To further enhance user productivity, Text Blaze integrates with various external services. Data from CRM platforms, such as Hubspot, can be dynamically incorporated into text snippets within Gmail, automating data entry and saving valuable time. The aim is to seamlessly connect different tools and data sources.

Growth and Team Expansion

According to co-founder Dan Barak, Text Blaze has operated with a lean team. The recent influx of capital will enable the company to expand its workforce from four to approximately ten employees this year. Like many contemporary startups, Text Blaze embraces a remote-first work model with a broad approach to recruitment.

Freemium Pricing Model

Text Blaze operates on a freemium model, offering a paid consumer subscription at $2.99 per month. The free version of the product is limited to a maximum of 20 saved snippets. TechCrunch noted the surprisingly low price and generous free tier, which Barak explained is strategically designed to drive enterprise adoption.

Enterprise Focus

A significant 70% of Text Blaze’s current user base has registered using corporate email addresses, indicating a strong potential for future enterprise sales. Business users will be charged a premium, approximately double the rate of prosumer subscribers.

Investor Confidence

The company’s approach has already garnered positive attention from investors. The Chrome extension has attracted over 70,000 users and is generating early revenue. Villi Iltchev likened Text Blaze to the early stages of Zapier, emphasizing its accessibility for automating communication tasks.

Leo Polovets of Susa Ventures expressed immediate enthusiasm for the product, stating he “fell in love” with it and was eager to invest after experiencing its benefits firsthand.

Looking Ahead

The funding round concluded several weeks ago. The company is now focused on scaling its operations and leveraging the new capital to accelerate growth.