Saturday, May 21, 2022

Software Accessibility Startup Kinde Creates $10.6 Million Seed Round

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Sydney-based tech startup Kinde has raised $10.6 million ($7.55 million) in seed funding.

The round was led by Blackbird Ventures, backed by California VC Felicis Ventures, which previously backed local tech firms Canva, Culture Amp and Dovetail.

The startup hopes to “democratize” software engineering by providing the infrastructure SaaS enterprises need to get started.

Kinde was co-founded by Ross Chaldecott, whose resume includes Atlassian, Shopify, and Campaign Monitor — the latter where co-founders Dave Berner and Evgeny Komarevtsev met. Last year they founded Kinde. It now has seven employees in a distributed team, with plans to quadruple that number by 2022.

Chaldecott said Kinde hopes to build a world with more founders, making building a software startup easier and more accessible.

“It shouldn’t just be engineers thinking about starting SaaS businesses, but anyone with an idea. We’re democratizing software by narrowing the distance between having an idea and getting it to people who need it,” he said.

“By giving them access to this technology – which historically only established companies could afford – they can accelerate from day one.”

Chaldecott said he’s spent his career thinking about the issue and seeing it firsthand in SaaS companies of all sizes.

“The impact of decisions made in the first few months of their existence can haunt them for years. The scope of this thing is huge,” he said

“It’s really one of the last truly universal problems in technology. Companies like Meta and Slack have solved the universal problem of online social connection – how we as humans interact with each other online. Companies like Amazon and Shopify have solved the retail problem: how we sell things online.

“But there is a huge gap when it comes to the universal problem of SaaS infrastructure: enabling people with ideas to quickly start and grow a business. We want to change that.”

Berner, Kinde’s VP of Engineering, said he’d worked on many apps “and inevitably built the same core components over and over” in features unrelated to the products.

“What we provide are all those building blocks to enable founders to focus solely on what makes their product special and get it to market as quickly as possible,” he said.

Kinde’s product will include tools for founders to authenticate and manage their users, create feature flags for controlling access within their products, and build feature plans for billing their customers.

Felicis general partner Victoria Treyger said: “I can’t imagine a better focus for our fourth Felicis investment in the Australian technology ecosystem than the Kinde platform, which gives founders around the world the infrastructure components needed to run a SaaS business. to start.”

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