Lexop joins 500 Startups in San Francisco and secures venture capital funds from Panache Ventures and Oceanelle Investments
Montreal, April 23, 2017 — Today we are very happy to announce that Lexop was selected to join the 23rd cohort of 500 Startups in San Francisco.
500 Startups is one of the most prestigious and reputable top tier startup accelerators in the world. This year, over 2,500 startups applied but only 18 were chosen. Statistically speaking, it represents a lower rate of acceptance than trying to get into Yale, Stanford, or Harvard.
Lexop was chosen to integrate the Seed Program in San Francisco. It’s a 4-month bootcamp-style program focused on growth during which the cohort is drilled by the best in the industry, on aspects such as go-to-market strategies, B2B sales, pricing, digital marketing, customer acquisition and lean startup practices.
As they say, “it’s like a startup MBA on steroids.”
Generally, by the end of the program, the objective for the startups is to double their monthly sales and subsequently raise a multi-million dollar financing round.
To learn more about Lexop’s first week in San Francisco, click here to read our CEO’s post on Medium.
Lexop fuels its expansion
We are also happy to announce that Lexop has raised $500,000 from Panache Ventures (leading Canadian seed-stage venture capital fund), Oceanelle Investments, and real-estate angels.
“The founder team at Lexop has a rare combination of smarts, ambition, grit, and perfect team complementarity. They already have impressive early market traction and we feel that the 500 Startups Seed program will help them accelerate their growth and reach their full potential” says David Dufresne, Partner at Panache Ventures.
This investment will help Lexop accelerate its expansion in the US market.
“We have a mature product fully commercialized in Canada. Our acceptance within the 23rd cohort of 500 Startups came right on time for our US penetration strategy. We are also thrilled to have the support of amazing partners such as Panache Ventures, the most active early stage fund in Canada, and Oceanelle Investments, a private equity company that invests in niche real estate businesses throughout North America” says Amir Tajkarimi, Lexop CEO.