/ News / Prototype startup Framer raises $1.3m with top VC’s and through Angellist syndicate

Prototype startup Framer raises $1.3m with top VC’s and through Angellist syndicate

Startup investment platform Angellist has been used by Dutch startups since 2010. But so far no Dutch startup has raised an online investment round through the American platform. Prototype startup Framer has become the first – with their syndicate topping up the US$1.3 million (1.16 million euro) funding round the startup is raising with top VC’s Foundation Capital and Greylock Partners.

From a site simply offering transparency about the startup investment scene Angellist has developed into a job finding and fundraising powerhouse. In 2014 alone the site raised US$100 million for the startups listed there. It is still small when compared to the tier one VC funds that have funds of over US$1 billion, but compares favourably to the bulk of smaller VC’s. So far Dutch startups have not benefited tremendously from Angellist’s fundraising power. Hundreds (958 at the moment) are listed there (as well as 307 investors), some will have drawn interest of investors, but none have managed to close their funding via the site.

Framer might have opened this door to fellow Dutch startups. The Amsterdam based startup is using Angellist to top up its funding raised with various US funds. It enlisted Ben Davenport (the 12th biggest syndicate on Angellist) to syndicate their deal, which ended significantly oversubscribed. Framer is raising a US$1.3 million round, part of which came through Angellist. The main VC’s pitching in with the round are Foundation Capital (Netflix, LendingClub, etc.) and Greylock Partners (Facebook, Dropbox, etc.).

The founders of Framer are experienced entrepreneurs/designers Koen Bok and Jorn van Dijk. Koen previously founded design agency Sofa (where Jorn used to work), which he sold to Facebook. Both stayed on at Facebook for a while, before moving on to further adventures. Koen also previously set up Cactus, a tool that makes publishing a website easier.

Framer itself originates from Facebook where Koen and Jorn used it to improve prototyping. It started with Framer.js an open-source javascript library, for which the startup has developed a sleek editor. The library itself will remain open-source, with the team monetizing the use of the paid editor. Some notable clients of the young startup are Dropbox (photo app Carousel’s landing was prototyped with Framer) and Google.

 
Photo provided by Framer

Wouter Kneepkens
Startup guy, mentor & investor with finance background | fund manager @ VNT.RE | founding editor @ StartupJuncture | co-founder @ SNTMNT | INSEAD alumn | Singapore & Amsterdam | Wouter Kneepkens

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