ARC RAISES $20 MILLION SERIES A LED BY LEFT LANE
Arc, the future of startup finance, today announced that it has closed a $20 million Series A financing round 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 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. The company also announced that Dan Ahrens, Managing Partner at Left Lane Capital, will join its Board of Directors.
Arc was founded with the belief that premium startups deserve a premium non-dilutive and non-debt funding alternative, along with financial tools to scale faster on their terms. The company has seen significant momentum since its seed funding in January 2022, and today supports 1,000+ high-growth software startups on its platform.
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. Continued product line expansion is expected throughout the remainder of 2022, with a focus on financial software and analytics.
For a limited time, startups that sign up for an Arc Treasury account will receive a discount on Arc Advance funding.
Arc Raises $20 Million Series A Led By Left Lane. Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
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