Pangea: YC-Backed Startup on Growth & Fundraising

Pangea Accelerates Growth Ahead of Y Combinator Demo Day

Pangea, a startup focused on connecting college-based freelancers with companies requiring digital assistance, is experiencing an increased rate of growth as it prepares for the upcoming Y Combinator demo day.

Startup Outreach and Growth Metrics

It is customary at this stage for companies participating in the accelerator program to initiate contact. We are receptive to discussing growth statistics from those willing to share them.

Based in Providence, Rhode Island, Pangea previously received coverage from TechCrunch following the announcement of a $400,000 pre-seed funding round last April. Currently nearing completion of the YC accelerator, the company has revealed details concerning its recent expansion and additional capital secured in late 2020.

Significant Growth in Gross Merchandise Volume

According to Pangea CEO Adam Alpert, the company’s gross merchandise volume (GMV) has increased by 35% month-over-month for the past two months. This represents a substantial expansion in GMV.

This growth translates into tangible results, with Pangea facilitating $50,000 in transactions between college freelancers and businesses over the last four weeks.

Alpert noted that the comparable figure from the previous year was approximately $3,000 to $4,000.

Market Take Rate and Revenue Model

The company has successfully increased its market take rate to around 25% through adjustments to its service pricing. This model bears resemblance to that of Fiverr and could facilitate faster net revenue growth.

Recent Funding Rounds

Following its initial pre-seed round, Pangea secured an additional $350,000 in November 2020, at a higher valuation cap. Furthermore, the company received $125,000 from Y Combinator, with these funds becoming available in January of this year.

Campus Reach and Target Market

Alpert stated that Pangea is currently operating on 600 campuses. The company has identified its core customer base as emerging brands and smaller technology startups.

These businesses frequently require skills in areas where college students excel – such as social media management and graphic design – making them an ideal client base.

Future Plans and Investment

While details regarding upcoming product releases were limited, the company indicated it is actively seeking investment partners as it prepares for Series A funding. The performance of Pangea in the coming weeks will be closely watched.

Early Stage Event Information

Early Stage is a leading event providing practical guidance for startup entrepreneurs and investors.

Attendees will gain firsthand insights from successful founders and venture capitalists regarding business development, fundraising, and portfolio management.

Event Coverage

• Fundraising strategies
• Recruiting best talent
• Effective sales techniques
• Achieving product-market fit
• Public relations and marketing
• Brand building

Each session incorporates audience participation, allowing for questions and discussion.