It is with much excitement that we welcome our fifth cohort – our largest and most diverse bunch yet. With 23 startups, this cohort comprises companies building for the future across a broad range of categories and industries.
Our latest cohort is reflective of the ever-evolving startup ecosystem. We received exceptional applications, across a very wide range of sectors, that have seen massive acceleration by the pandemic – changing how we live, work and play forever. Forty percent of Surge 05 are SaaS and DevTools companies, most of whom are building for global markets from day one. We also have three companies in B2B commerce, two in Logistics, and the remaining across Consumer, EdTech, FinTech, and Digital Health.
Surge 05 is also home to a roster of incredible female founders. One third of the startups in this cohort have at least one woman founder, and we’re sure the 10 women in Surge 05 are going to make a big impact within the Surge community and our ecosystem.
As with prior cohorts, we continue Surge 05 with our ‘open architecture’ approach. These companies have collectively raised $55 million in their Surge round from both Surge and co-investors. More than half of them are also coming into the program with institutional and angel co-investors.
Even before the start of Surge 05, founders across this cohort began working with each other, reaching out to one another for help, and were eager to get started on the one-on-one office hours we offer at Surge. It’s clear to us that many of them embody the hustle and drive that we often look for in founders. Their open and outgoing spirits, and passion to network and connect with one another ahead of the program’s commencement, holds promise that Surge 05 will grow into a supportive and tight-knit community.