Latest news with #Base10Partners
Axios
9 hours ago
- Business
- Axios
Exclusive: Base10 leads €25M round for Italian HR startup Jet HR
Jet HR, a Milan-based platform serving small and midsized enterprises, raised €25 million in funding led by Base10 Partners, founder Marco Ogliengo tells Axios exclusively. Why it matters: There is increased investor appetite for vertical SaaS solutions tailored to regional markets with high regulatory complexity. How it works: Jet HR provides an all-in-one payroll and HR platform that is specifically designed to navigate Italy's complex payroll regulations. It integrates with over 600 government entities and offers modules for payroll, health and safety course management, VAT account management, shift scheduling, and time and attendance tracking. The big picture: Italy's payroll processing market is notably expensive and complex, averaging over €30 per employee per month compared to about $6 for U.S.-based payroll services. Jet HR is betting that its digital-first platform and simplified regulatory management give it an edge over legacy incumbents like Zucchetti and TeamSystem, which Ogliengo says rely more heavily on manual processes. By the numbers: The startup says it grew its annual recurring revenue 6x in 2024 and serves more than 700 customers, primarily SMEs with an average of around 15 employees. Context: Before Jet HR, Ogliengo founded ProntoPro, a marketplace for local service professionals — like a Thumbtack for Italy. Zoom in: Since its founding in December 2022, Jet has raised about €42 million from investors that include Exor Ventures, Italian Founders Fund, and Picus Capital. Ogliengo notes the company was close to breaking even without the additional funding, but "having more capital now increases our optionality significantly," he says. Between the lines: The round marks Base10's first investment in Italy, reflecting a growing interest in under-invested European markets. "We were already very well networked across Europe through our existing investors. The first thing Base10 brings is the U.S. network. Moreover, Base10 is specialized in vertical SaaS and payroll and accounting," Ogliengo says. Along with the funding, Base10's Adeyemi Ajao — founder of Tuenti and former investor in Stripe, Nubank, and Cabify — will join Jet HR's board. What's next: Jet HR plans to double its team in the next 18 months, primarily investing in software engineering and product development.
Yahoo
11-04-2025
- Business
- Yahoo
We got an exclusive look at the pitch deck tutoring software startup Noto used to raise $3.8 million
New York-based Noto has raised $3.8 million to modernize tutoring centers and lesson-based businesses. Noto's platform uses AI to cut admin by automating billing, scheduling, and payroll. Check out the 44-slide pitch deck that helped Noto land its seed round from Base10 Partners. Noto, a startup that provides software to automate tasks like billing and payroll for educational businesses, has raised $3.8 million in seed funding led by Base10 Partners. AJ Ding and Steve Wang founded the startup after they spent last summer knocking on the doors of small firms across New York City, and they kept hearing the same story: business was booming, but operations were a mess. "We ended up interviewing about 150 businesses over two weeks, walking around six hours a day," Ding, Noto's cofounder and CEO, told Business Insider. The pair said many of the lesson-based businesses they visited — including tutoring centers, music schools, and driving schools — still ran on sticky notes, Google Sheets, and outdated software systems. Owners were "drowning in admin," Ding said. Ding told BI that Noto's platform, which launched in September 2024, is designed specifically for lesson-based businesses and their unique operational challenges. They include managing parent-child-instructor relationships, shifting schedules, and complex billing rules. Noto uses large language models to draft lesson reports, reschedule classes, and summarize parent communication. The goal, Ding said, isn't to replace tutors but to free up their time. Ding, a second-time founder and Yale-trained statistician, previously built an AI recruiting platform. His cofounder, Wang, was the founding engineer at Nitra, a software company for doctors' offices backed by A16z. "The lesson-based business segment has been chronically underserved by technology," Caroline Broder, a partner at Base10, the new funding, Noto plans to grow its engineering team, hire a business operations lead, and improve the platform's AI capabilities, including AI onboarding, rolling out student-facing insights, and AI-assisted admin agents. Read the original article on Business Insider Sign in to access your portfolio
Bloomberg
10-04-2025
- Business
- Bloomberg
How Financial Tech and Outsourced Banking Made Saving Risky Again
Adam Moelis and Ben Doyle had an outside-the-box business pitch: Many Americans struggle to build a savings habit but also enjoy spending money playing the lottery. What if they could combine a bank account with a sweepstakes to make savings more fun? The two entrepreneurs developed the idea with the help of Y Combinator, a storied tech incubator where business founders can hone their ideas and get them in front of venture capitalists. In 2020, Moelis and Doyle launched a finance app called Yotta. For every $25 users deposited into Yotta, they'd get a virtual sweepstakes ticket instead of interest. Prizes ranged from 10 cents to $10 million. Drawings would happen once a week, encouraging people to keep coming back to the app. Yotta Technologies Inc. got early investments from VC firms including Base10 Partners and Core Innovation Capital, as well as hedge fund manager Cliff Asness and Moelis' father, Ken, the billionaire founder of the investment bank Moelis & Co.
