November 9, 2021

Wednesday, May 25, 2022

Here’s some of the latest news from our team and portfolio:

Flock Freight, a shared truckload solution for shippers, announced a $215M round led by Softbank. This round values the company at $1.3B — which makes Flock Freight among the first San Diego-based startups to reach a billion-dollar valuation. We first backed Flock Freight in their seed round in 2015 and they’ve since grown to over 300 employees and hundreds of millions in revenue.

Selfbook, a direct booking and payments system for hotels, raised $25M in a Series A led by Tiger Global. TenOneTen, Better Tomorrow Ventures, Abstract Ventures, and Lachy Groom participated in the round as well. Selfbook has grown to 50 full-time employees, up from only four earlier this year. This round will allow Selfbook to continue growing its team and building new fintech partnerships.

Urban Sky, a high-altitude ballooning company, announced a $4.1M seed round led by Catapult Ventures. Urban Sky’s stratospheric balloons make it possible to capture areal imagery at much higher resolution than satellites and far more frequently than planes. TenOneTen initially backed the company in their pre-seed last year and participated in this round alongside Catapult, Techstars, and New Stack Ventures.

Optimal Dynamics, a dynamic routing and automation solution for trucking fleets, was featured on the Freight Waves podcast. In the episode, founders Daniel and Warren Powell discuss their journey as a father-son team building a logistics startup together.

Cartwheel, which offers hybrid delivery management software to restaurants and retailers, was featured in an article by Restaurant Dive. In it, P.F. Chang’s VP of off-premise dining discusses their plans to offer self-delivery nationwide by 2023, and how they landed on Cartwheel’s software to power that effort.

We’re also excited to introduce three new TenOneTen companies:

Afterparty, a new NFT platform for creators, is the latest addition to the TenOneTen portfolio! TenOneTen co-led their $3M round alongside Acrew Capital, and we’re excited to back founders David FieldsDanRahmel, and our own EytanElbaz on their journey. Afterparty’s platform makes it easy for streamers and other creators to offer their own NFTs and social tokens and gives them the tools to monetize and manage their fan relationships with token-gated fan experiences, merchandise, and more.

Vendorflow, a supply chain communication software company, is another recent addition. TenOneTen led a $1.3M round alongside Amplify LA and was joined by key logistics industry angels such as project44 CEO Jett McCandless, Flock Freight CEO Oren Zaslansky, Best Bay Logistics President Param Singh, and former NEXT Trucking CRO Bobby Napiltonia. Vendorflow founders EricRodriguez and Greg Bujak also recently sat down with Freight Waves TV to discuss how their software helps streamline communication among logistics service providers.

Sparkplug, an employee rewards and commission platform for retail employees also announced a $3.5M round led TenOneTen. In the wake of the pandemic and recent labor shortages, co-founders Andrew Duffy and Jake Levin have doubled down on their focus to support frontline workers. Retailers that use SparkPlug can incentivize in-store sales staff by launching sales-based commission and reward campaigns. And brands are able to pay retail employees directly for promoting and building awareness for their products.