You might remember a few months ago when we took a look at Tandem, the mobile-focused accelerator based in The Valley. I had the chance to pick the brain of Doug Renert, Tandem’s “Dealmaker”. In the time that has passed, the team has had quite a few things going on, so it’s a good opportunity for us to get you back up to speed.
The first thing that’s important to note is that Tandem just closed a $32 million round of funding from a long list of investors. That money, of course, will go toward accelerating more companies, but bear in mind that Tandem isn’t your typical 12-week, 1-trick pony. Startups in the program are encouraged to stay around as long as they need to get successful traction.
The accelerator has also been turning out some big hits, such as BitRhymes. The company is the producer of the high-grossing iPad app Bingo Bash HD, and recently announced that it’s on track for a $45 million run rate. In fact, looking at the latest class, Tandem is touting a 100% success rate, with every single team in talks for funding rounds.
Not bad work, to say the least. But Tandem is hardly finished. In fact Renert has just put out the last call for its next class, where it will again offer $200,000 in seed funding for mobile-focused startups. Given the hit rate of the accelerator thus far, we’ll take a while guess and say that there’s no lack of applicants.
So, fancy yourself a mobile dev, or have the next big idea? Drop Tandem a line. We’re anxious to see what the accelerator turns out next.
More reading: TNW’s Martin Bryant asks if niche accelerators are the way forward for smaller metros.
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