Syndicate Fund Catalyzes $13 Million Investment
Everything But The House (EBTH) is a revolutionary online estate and consignment sale company that combines the personal touch of a local business with the convenience and reach of a global e-commerce company. EBTH manages every aspect of an estate sale, from the initial assessment to the auction to the transaction on their flagship website.
Working with both buyers and sellers, EBTH brings a modern feel to what used to be an old-fashioned, people intensive event.
Rapid Growth Leads to a Big Decision
EBTH was founded in 2007 and experienced consistent growth, expanding rapidly in late 2014. While this growth was exciting, the executive team was faced with a decision – should they seek out investors to accelerate their plans and, if they did, what would that mean for their business? The seven-year-old company already established a solid brand and unique culture among its passionate fan base. To find the answers, Andy Nielsen and the EBTH team turned to Cintrifuse for advice.
Andy Nielsen, EBTH CEO
Tim Schigel, Cintrifuse Fund manager, and the funding connections team offered strategic guidance and mentorship to EBTH. They clarified what taking venture capital meant and, ultimately, helped EBTH decide whether or not it was the right decision for their company.
VC Network in Action
In November of 2014, EBTH closed a $13 million Series A round. This is still the largest Series A funding for a consumer tech platform in Cincinnati history.
The driving force behind this investment was the Cintrifuse Syndicate Fund’s network of VCs. Because of the relationships developed with investment firms nationwide, Cintrifuse connected Andy to Greycroft Partners and Spark Capital. These firms are headquartered in Los Angeles and New York City respectively and would not normally consider the Midwest in their investment strategy.
Without the substantial reach of Cintrifuse’s investment network, EBTH either would not have taken capital critical to their continued growth or would have left Cincinnati to find investors. Our funding connections program ensured one of #StartupCincy’s most successful companies received the funding they needed and that they remained in the region.
The Cintrifuse Impact
Andy Nielsen, EBTH CEO
Throughout this process, Cintrifuse acted as a mentor guiding Andy and the EBTH team through the investment process ensuring it was the right move for them. Once the decision was made to take on venture capital, we then tapped into our national VC network.
Through our network, we introduced EBTH to top-tier investors from established coastal ecosystems. These introductions eventually led to one of the largest Series A investments in Cincinnati history.
EBTH is a testament to the success of the Cintrifuse Syndicate Fund’s strategy as well as our funding connections program. It shows how these tools expand the reach of local startups and help build Cincinnati’s new economy.