Arc, a San Francisco, California-based future of startup finance, announced that it closed a $20 million Series A financing led by Left Lane Capital.
Other investors include NFX, Y Combinator, Clocktower Technology Ventures, Torch Capital, Atalaya, Bain Capital Ventures, Soma, Alumni Ventures, and Dreamers VC, as well as the founders of Wayflyer, Plaid, Column, Chargebee, Vouch, and Jeeves.
The company's Series A funding round increases the total capital raised to $181 million over the last 12 months, with $31 million in equity and a $150 million credit facility.
The company will use the new funding to accelerate its growth and expand the availability of its treasury and software products built to help startups access and manage capital while retaining equity.
Arc also announced that Dan Ahrens, Managing Partner at Left Lane Capital, will join its Board of Directors.
Company: Arc Technologies Inc.
Round: Series A
Funding Month: Aug 2022
Lead Investors: Left Lane Capital
Additional Investors: NFX, Y Combinator, Clocktower Technology Ventures, Torch Capital, Atalaya, Bain Capital Ventures, Soma, Alumni Ventures, and Dreamers VC
Company Website: https://www.arc.tech/
Software Category: Finance Platform
About the Company: Founded in 2021, Arc is the full-service finance platform for SaaS, providing software startups with the customized financial products they deserve. Arc converts startups’ future revenue into upfront capital, provides a cash management account to store, manage and spend funds, and delivers financial analytics to drive growth. Arc launched in January 2022 and graduated from Y Combinator in March 2022. Arc recently expanded its suite of fintech tools with the launch of Arc Treasury in June 2022. Arc Treasury is a digitally native and vertically integrated cash management account that enables startups to access the essentials including instant deposits, free money movement, unlimited cards, spending control, and market-leading benefits—without the drawbacks of legacy offline financial institutions. The company’s other solutions include Arc Advance, which allows founders to convert future revenue into upfront capital, and Arc Runway, which helps startups analyze their net cash burn to more efficiently deploy their capital to maximize runway. The company has over 1,000 startups on its platform and has deployed tens of millions of dollars in non-dilutive funding to high-growth software startups.