Segment: DeFi, DAO / Business Model: B2B / Stage: Seed
Purpose: Helps companies and DAOs automate their token vesting, management and distribution to employees, investors, partners, and community members. Calling themselves the Carta for crypto.
Problem: Token ownership will be the future of equity ownership, companies need to be able to manage the implications of this equity across multiple stakeholders in a simple accessible way
Solution: A platform to manage the vesting of tokens (automate smart contracts and distribution) with built-in tax and compliance features. Long term aspirations to manage all elements of token ownership.
Team:
Robin Ji: Co-founder and CEO. Previously a product leader @ Eco, Adobe, Coffee Meets Bagel, LinkedIn
Oliver Tang: Co-founder and CTO. Previously an engineer @ Set Labs, Amazon, Salesforce
Traction:
Part of YC W22
Positive Signals:
Valid problem: Token management is a known-pain for startups
Business model: Validation with similar model existing for current businesses (Carta)
Strong team: With experience that screams they have the right skillset
Hiring: Looking to hire 3 new positions (super early stage)
Risks:
Can they capitalize on their positive signals, unsure about their traction on how many customers they currently have
Can they get the sales before they run out of money / or raise to float themselves