MASSACHUSETTS

A COLLABORATIVE SPACE FOR

EVERY IDEA

Accelerators, Incubators & More

2

Start your Company in THE Innovation State

Massachusetts is ranked “best in class” by multiple surveys for R&D intensity,

productivity, high-tech density, concentration of STEM employment science and

engineering degrees, and patent activity.

Massachusetts--#1 in Milken’s Annual S&T Index every year

since 2002.

Bloomberg’s 2016 U.S. Innovation Index ranks

Massachusetts as the “Most Innovative State.”

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Strong Innovation & Startup Ecosystem

500+ Big Data/ Data Analytics Companies

(source: MassTech)

550+ Biopharma companies and 400+

Medical device makers

(source: MLSC)

Over 350+ Digital Health Companies

(source: MassTLC)

Over (?) companies in the Robotics

Cluster/Internet of things

(source: ABI Research)

#1 in Overall Quality of K-12 Education

Systems

(source: Education Week)

#1 in Top Relocation Destination for

College-Educated Adults’

(source: Census)

Highest Percentage (46.1%) of Adults in

US with a Bachelor’s Degree or Higher

(source: Census)

Most STEM Degrees per million residents

(source: NCES)

13 Leading University/Non-Profit Research Centers in

Massachusetts

#1 R&D State as a percentage of GDP

in Updated this

(source: NSF)

#1 State for NIH Research Funding per $1 Million GDP

(source: NIH)

6,777 Patents Granted to Universities and

Firms

(source: USPTO)

5.8B in Total VC Investments

(source: PWC)

115 CollaborativeWorkspaces

700+ VC Professionals from

80+ Firms

(source: NEVCA)

2.6B in VCEarly Stage Funding

(source: PWC)

DOMINANT CLUSTERS

TALENT &WORKFORCE

RESEARCH & DEVELOPMENT

SOURCES OF CAPITAL

4

Collaborative

Workspaces: Anchoring and Fueling the Eco-system

5

A Culture of Sharing, Community

and Connections.

Collaborative Workspaces provide

shared infrastructure and administrative

support systems to let entrepreneurs

focus on their business.

Workspace for All

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Across the Commonwealth

By the numbers*:

• Incubators: 31

• Accelerators: 17

• Makerspaces: 25

• Co-Working Spaces: 42

*Defined as available workspace for entrepreneurs and

start up firms working in technology and innovation.

Massachusetts offers a dense

network of accelerators, incubators,

co-working spaces and

makerspaces.

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Which Space is Right for Your

Business? Model Physical Space Programming/Support Lease Terms Examples Type of Entity

INCUBATOR Mostly shared space; open

floor plan; often with mix

of office and specialized

equipment

Explicit mission focus; integrates

business support & TA; emphasize

collaboration, community

Curated application;

typ. 2-3 year timeline;

rent terms vary

Greentown Labs,

UMass Dartmouth

CIE, BOLT

Typically not-for-

profit

Some Take Firm

Equity in exchange

for Capital.

ACCELERATOR May or may not include

physical space

Focused specifically on jump

starting a business; typically

formal curriculum; space/

program often free; emphasize

collaboration, mentoring,

knowledge-sharing.

Competitive/curated;

typ. time-restricted to

@ 6 months or less

MassChallenge,

EforAll, Smarter in

the City, Cleantech

Open

Mix of for-profit and

non-for-profit.

Some offer

Competitive Cash

Prizes

MAKERSPACE Mostly shared space; open

floor plan for creative

industries; equipped

w/specialty tools

Mostly arts & tech focused;

limited formal business support,

but lots of classes, skill-sharing,

focus on collaboration

Hourly, monthly,

annual membership;

no specific time

constraints

AS 220, Artisans’

Asylum, TechShop

Typically not-for-

profit

CO-WORKING Mostly shared space; open

floor plan; often focused

on specific industries

Emphasizes collaborative work

environment; on-site staff offers

events, trainings, org, gatherings

and general admin.

Membership-based;

Flexible terms-Hourly,

monthly

Work Bar, Space

with a Soul, Click,

Cambridge

Innovation Center,

Impact HUB,

Running Start

Typically for-profit

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Incubators: Grow your Business

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Incubators

Amenities Offered

• Business planning

• Financial management

• Access to capital

• Legal/organizational structure

• Marketing, procurement, and sales

• Mentoring & coaching

• Networking

• Entrepreneurship educational events

• Access to equipment & facilities

Incubators are more likely to admit startups on a rolling basis, and are often

less timeline-driven than accelerators.

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Greentown Labs serves the needs of cleantech

entrepreneurs by offering customized 33,000 sq. ft.

facility that offers co-located office space and

prototyping lab space. Since 2011 startups at

Greentown Labs have collectively raised more than

$200 Million in funding.

Incubator Spotlights

________________

___

___

___

___

NSIV enables success by working with businesses and entrepreneurs to bring ideas to reality. Operating a 10,000 sq. ft. technology business incubator focusing on clean tech and life science sectors. Since 2008 at NSIV more than $168M in investments, awards, and grants has been raised by startups.

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Incubator Spotlights (Con’t)

________________

___

___

___

___

Hack/Reduce is the epicenter of the Big Data

community in Boston by working with top-tier

companies and talent to help them build the

relationships they need to found or join the next great

technology companies. Using the power of

the AngelList platform, when a lead finds a company

they want to invest in, hack/secure backs that lead’s

investment with up to $250,000 of additional investment

capital.

Launched in 2014 by Baystate Health, TechSpring

provides technology companies access to a real, live

health system using a proven process and platform to

test and validate digital health solutions. 12,000+

employees work across a region-wide integrated

delivery network, five hospitals and 1000 beds,

including a flagship teaching hospital and 90+ medical

practices.

TechSpring

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Incubator Programs

Name/Location Description Website

Greater Boston Region

Greentown Labs/SomervilleA 33,000 square foot facility for green / energy tech startups. In addition to office space, Greentown provides a well-equipped machine shop for prototyping, and hosts many events that give member companies opportunities to connect with press, partners, investors, and talent.

http://greentownlabs.com/

Cogo Labs/Cambridge

Cogo Labs was originally founded in 2005 as Adverplex and has incubated some of the Boston area’s fastest-growing web companies. They “combine entrepreneurial business leadership with a unique platform of proprietary technologies for algorithmic marketing, data mining, and quantitative business analytics.”

http://cogolabs.com/

Hack/Reduce/Cambridge

Focused on big data, this incubator has a unique ‘co-creation’ model, pairing founding teams with ideas from hack/reduce advisors. Companies formed in this way are their own, independent companies, with access to the hack/reduce space and partners for up to a year.

http://hackreduce.org

Health Innovators/SomervilleHealth Innovators is a community of healthtech innovators, comprised of an ecosystem of clinicians, programmers, investors, product managers, business developers, doctors and health professionals whose mission is to help turn ideas for improved healthcare into reality.

http://healthinno.org/

Quincy Center for Innovation

The Quincy Center for Innovation (QCI) is a unique co-operative work environment supporting start-ups and early phase companies. Members will have access to mentors and individuals who are there to help you plan and grow your business.

http://quincyinno.com/

Roxbury Innovation Center/BostonThe Roxbury Innovation Center is "a civic experiment that will support local economic development by encouraging innovation and entrepreneurship." The Center is designed as a space for "groups to provide programs that support innovators, entrepreneurs and business founders."

http://roxburyinnovationcenter.org/

UMass Venture Development Center/Boston

The VDC is a paid workspace for tech and biotech ventures. Hosting as well entrepreneurs-in-residence, with a special program for international founders to obtain a cap-exempt H-1B visa in exchange for acting as a mentor to members and entrepreneurial UMass faculty, students, and alumni

http://vdc.umb.edu/

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Incubator Programs (Con’t)

Name/Location Description Website

North/South Regions

CapeAnn Business Incubator/Gloucester

CABI provides a professional working environment where small businesses can receive education, technical assistance, office space, shared services and access to financing and other professional services.

http://businc.org/

CreaGen/WoburnCreaGen Life Science Incubator (C2I) providing companies with access to state-of-the-art laboratory space, shared/private office space, mentoring, business development services, as well as a host of complementary technology and development services.

http://creagenbio.com/

M2D2/LowellM2D2 offers office space, grant-writing assistance, medical expertise, regulatory support and other services for medical device entrepreneurs. M2D2 offers a range of no-cost and fee-for-service options

https://uml.edu/Research/M2D2/Default.aspx

North Shore InnoVentures/Beverly

North Shore InnoVentures provides physical resources, sponsor services, experienced entrepreneurs and investment advisers together to help cultivate early staged companies

http://nsiv.org/

UMass Dartmouth’s Center for Innovation and Entrepreneurship (CIE)/Fall River

The CIE offers three business areas to support these goals: Research and Partnering Laboratories, a Conference Center and a Technology Venture Center.

http://atmc.umassd.edu/

Central/Western Regions

Berkshire Innovation Center/Pittsfield

Opening in 2017--Berkshire Innovation Center will provide advanced capabilities to small and medium sized manufacturers: Advanced R&D Equipment (3D Printing – Plastics and Metal, Precision Measurement, Laser Scanning, Materials Analysis & Testing, High Power Microscopy and more).

http://businc.org/

Orange Innovation Center OIC strives to cultivate each businesses success by developing an environment where each entrepreneur has the structure and support for success.

http://orange-innovation.com/

TechSpringHealth/Springfield

TechSpring provides digital health startups an environment to test and prove solutions by accessing healthcare technology systems and informatics.

http://techspringhealth.org/

Venture Forum/Worcester Formerly the WPI Venture Forum, they have offered a foundation for learning and networking essential for launching and growing a successful technology business since 1990.

http://theventureforum.org/

Worcester CleantechIncubator

WCTI provides access to the physical, network, and capital resources companies need to propel ideas to market.Providing in-house advising, mentorship, networking support, and external services.

http://wcti.org/

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Accelerators:Speed up Your Idea

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Accelerators

Amenities Offered

• Business planning

• Financial management

• Access to capital

• Legal/organizational structure

• Marketing, procurement, and sales

• Mentoring & coaching

• Networking

• Entrepreneurship educational

events

Accelerators’ major difference from other collaborative workspaces is the fixed

structure of the program with beginning and end dates, as well as, the

competitiveness of applying to the accelerator program.

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Accelerator Spotlights

MassChallenge is a not-for-profit accelerator

providing startups with the access and resources

they need to succeed - from free office space to

mentoring, workshops and global network access.

Since 2010, MassChallenge has accelerated 835

startups, which together have raised $1.3 billion in

funding, generated over $500 million in revenue and

created over 6500 jobs across the world.________________

___

___

___

___

The most startup-friendly digital health lab, connecting

entrepreneurs to experts, institutions and resources

with no equity taken. Connecting entrepreneurs with

world-class strategic partners in healthcare

Pulse@MassChallenge and partners will award up to

$250,000 in no-equity scholarships and prizes at

beginning and conclusion of the program.

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Accelerator Spotlights (Con’t)

________________

___

___

___

___

EforAll offers twice yearly Accelerator Programs,

where 15-20 entrepreneurs work with mentors

and experts to move their ventures forward

quickly.

Located in Springfield, Massachusetts VVM

builds, supports, and maintains a

community committed to nurturing startups.

Its primary accelerator program involves four

months of intense training and critical support

with the opportunity for participants to win up to

$50,000 each (equity-free) to develop their

businesses.

Multiple locations in Fall River, Lawrence, Lowell

and New Bedford serving both English and

Spanish language participants.

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Accelerator Programs

Name/Location Description Website

Greater Boston Region

Healthbox/Boston

At Healthbox, entrepreneurs choose to partake in one of the 16-week programs where they will receive customized support intended to address the encounters unique to starting a business in healthcare.

https://healthbox.com

Idea NortheasternUniversity/Boston

idea is Northeastern University’s Venture Accelerator. Begun in January 2009 as a request by Northeastern students who were seeking a place to “support entrepreneurial endeavors” on campus. Student and alumnae entrepreneurs are assisted by a team of established mentors, service providers, and advisors.

http://northeastern.edu/idea/

MassChallenge/BostonMassChallenge is a non-equity accelerator providing a four-month program, mentorship, office space, education, network & community, and other resources.

http://masschallenge.org/programs/boston

MIT Global Founders’ Skills Accelerator/Cambridge

The MIT Global Founders’ Skills Accelerator (GFSA) is MIT’s student venture accelerator, providing a three-month-long capstone educational opportunity for MIT student entrepreneurs.

http://entrepreneurship.mit.ed

u/accelerator/

Techstars/BostonTechStars offers a three-month program, taking 6% equity from companies admitted, and provides capital in two forms: $20,000 for living expenses, and the automatic offer of a $100,000 convertible note.

http://techstars.com/contact/

TiE ScaleUp/BostonTiE ScaleUp offers a five-month accelerator program that does not provide capital and no fees are charged or equity taken. http://tiescaleup.org

Step Ladder/Boston StepLadder helps business accelerate and step up to the next level more quickly. Tap into StepLadderfor capital sourcing, advisory, strategy, finance, business development, product management and engineering, digital design and marketing and much more.

http://stepldr.com/

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Accelerator Programs (Con’t)

Name/Location Description Website

North/South Regions

EforAll/Lowell, Lynn, New Bedford, Lawrence & Fall River

EforAll is a 12 week program that gives entrepreneurs the opportunity to move their businesses forward. During the program, there are workshops, mentors, and an opportunity to share a $30K Prize Pool

https://eforall.org/

Internet of Things Impact Lab/Fall River

IoT Impact LABS provides early stage IoT companies, tech and industry leaders, small and mid-sized enterprises and subject matter experts to instrument the physical world with intelligence and intention for profit and resilience.

https://iotimpactlabs.com/

Central/Western Regions

Kayon Accelerator/AmherstKayon Accelerator combines seed capital, hands-on help and a great co-working location with an expert team to positively impact the trajectory of early-stage startups. The Accelerator runs two, four-month programs per year.

https://kayonaccelerator.com/#accelerate

SPARK/HolyokeSPARK Launch Program is a nine-week business development course that will allow you to define your business and get it up and running. Meet and work with other aspiring entrepreneurs who are facing similar challenges with their start-ups and develop relationships with mentors.

http://sparkholyoke.com/

TechSandBox/HopkintonTechSandBox helps accelerate the success of science and technology entrepreneurs in Massachusetts. The aim is to enable access to information, education, expertise, and support.

http://techsandbox.org

Valley Venture Mentors/ Springfield

VVM offers a four-months of intense training and lovingly critical support. Free office space from January through May 2017. Startups compete to win up to $50,000 each (equity-free) to develop their businesses.

http://valleyventurementors.org/

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Makerspaces: Create Your Idea

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Makerspaces provide shared-use tools and materials in order to

defray the cost of purchasing expensive machinery individually.

Makerspaces

Amenities Offered

• Shared Machinery

• Lathes

• Drill Press

• Wood Shop

• Fiber Arts Equipment

• Laser Cutters

• 3D Printer

• Computer Aided Design

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Makerspaces Spotlights

Artisan’s Asylum is a non-profit community

fabrication center located in Somerville, MA. which

is currently averaging 280 monthly members and

160 studios.

Offering access to necessary metal machining,

electrical fabrication, welding, woodworking,

sewing & fiber arts, robotics, bicycle building and

repair, and screenprinting.

________________

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Technocopia is a non-profit makerspace located in

Worcester, MA. The 7,000 sq. ft. facility offers common

work space, rental bays, and a variety of tools.

Offering training classes and workshops which make

use of shared work areas including: a complete wood

shop, 3d printer station, electronics bay, classroom,

CNC mill and laser cutter station.

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Makerspace Programs

Name/Location Description Website

Greater Boston Region

Artisan Asylum/SomervilleShared fabrication tools and equipment in electronics, robotics, woodworking, jewelry and metalsmithing, welding, precision machining, rapid prototyping, digital fabrication, fiber arts, screen printing and more

https://artisansasylum.com/

Bolt/Boston Bolt is a venture capital fund designed to address the unique needs of early-stage startups at the intersection of hardware and software. Start ups will have access to Bolts engineering team and cutting-edge prototyping shops in Boston.

http://bolt.io/

Framingham MakerspaceFramingham Makerspace houses 3D Printers, electronics a wood shop, and a metal and welding shop.

http://framinghammakerspace.org/

Made at Mass Challenge/BostonMADE@MassChallenge provides startups with 5,000 square feet of R&D space and access to top of the line equipment including 3D printers, materials testing equipment, laser cutters, and more

http://masschallenge.org/programs/made

North/South Regions

Cape Cod Makers/BarnstableCap Cod Makers provides for meetups, connecting local makers, hosting classes, group activities, promoting shared resources and maker spaces.

http://capecodmakers.org

Extras for Creative Reuse/LynnExtras for Creative Reuse provides reusable and surplus materials to stimulate creative and critical learning potential while lowering businesses' expenses and carbon footprints.

https://creativeground.org/profile/extras-creative-reuse

Lowell MakesLowell Makes provides a mix of high-tech things like 3D printers and CNC mills, along with more traditional workshop spaces including a wood shop and metal shop.

https://lowellmakes.com

Central/Western Regions

Brick Co. Workshop/HolyokeBrick is a shared work environment for artists, fabricators, engineers, and designers. The space is home to small businesses as well as individual artists.

http://brickcoworkshop.com/

Maker's Mill/North AdamsMakers’ Mill is a creative space that builds community and fosters new learning opportunities around a shared passion for making.

http://brickcoworkshop.com/

Technocopia/WorcesterTechnocopia 7,000 sq. ft. facility offers common work space, rental bays, and a variety of tools for artisans to create and work with. Membership includes access to all shared tools and equipment.

http://technocopia.org/

WorcShop/WorcesterThe WorcShop is a creative cowork facility that effectively integrates traditional art with artisanal crafts, progressive design & cutting edge technology.

http://theworcshop.com/

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Co-Working Spaces: A Shared Workplace for Startups

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Co-working space model from daily from different business models

facilities are meant for an individual or start-up seeking to maintain

operational flexibility. Co-working spaces span from daily desk hourly

rentals to monthly memberships for the facility.

Co-Working Space

Amenities Offered• Internet• Print/Copy/Fax• Phones• Private Meeting Rooms• Desk Rentals

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Co-Working Spotlights

Cambridge Innovation Center (CIC) has been

home to over 3500 companies since 2001,

many of whom have started here. Companies

originally headquartered at CIC have created

over $3.9B in publicly disclosed exit value.

________________

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Groundwork! supports the amazing community of talented entrepreneurs in New Bedford and surrounding areas, and to create a special space for people, ideas, and collaboration.

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Co-Working Spaces

Name Description Website

Greater Boston Region

Cambridge Innovation CenterCoworking memberships rates begin at $425 per month, and dedicated desks starts at $730 in the Cambridge location.

http://cic.us/membership/

Coalition BostonCoalition Boston full time membership begins at $250/month and a Private Office is available for $800/month.

http://coalitionspace.com/boston/

Geek Offices/Cambridge Geek Offices dedicated is $475/month and a Private Office begins at $600/month.

http://geekoffices.com/

Intrepid Labs/CambridgeIntrepid full time membership is $500/month

http://labs-dev.intrepid.io/#intro

Space with a Soul/BostonSpace with a Soul full time membership begins at $300/month and a Dedicated Desk is available for $796/month. http://spacewithasoul.org/

WeWork/BostonWeWork membership rates begin at $400+/month shared desks and $440+/month dedicated desks

http://wework.com/boston

Workbar Union/SomervilleWorkbar membership rates are from $350 month full-time open workspace to upwards of $500+/month for a dedicated desk.

http://boston.workbar.com/office/workbar-union/

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Co-Working Spaces (Con’t)

Name Description Website

North/South Regions

GroundWork!/New BedfordGroundWork! full time membership begins at $200/month and a Dedicated Desk is available for $250/month.

http://newbedfordcoworking.com/

Launch/WoburnLaunch full time membership begins at $155 per month for an Open Desk, Premium Open Deskstarts at $190/month and

http://cummingsexecutivesuites.com/launch.htm

Spark/ActonSpark full time membership begins at $350/month and a Dedicated Desk is available for $500/month.

http://www.sparkcoworkspace.com/membership-rates

WorkTable/Marlborough WorkTable full time membership begins at $250/month. http://coworktable.com/

Central/Western Regions

AmherstWorksAmherstWorks full time membership begins at $225/month and a Dedicated Desk is available for $425/month.

http://amherstworks.io/

Cloud85/North AdamsCloud85 full time membership begins at $150/month and a dedicated desk is available for $230/month

http://cloud85northadams.com/about/

Click Workspace/Northhampton

Click Workspace full time membership begins at $195/month and a dedicated desk is available for $245/month.

http://clickworkspace.org/membership/

Running Start/WorcesterRunning Start full time membership begins at $200/month and a dedicated desk is available for $225/month.

http://runstartwork.com/plans-pricing/

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Massachusetts:All the Ingredients you Need

30

Diversity Driving Innovation in MA

31

A Collaborative Ecosystem

Universities

Talent & Workforce

R&D

ClustersInnovation

Leadership

Capital

Collaborative Workspaces

13 Leading University/Non-Profit Research Centers in Massachusetts

15,000 + STEM grads in 2014#1 nationally****

12 Massachusetts companies in the Fortune 500

$6.92B of technology investmentsin MA companies**

Over 114 Colleges and Universities;

with over 400,000 students enrolled***

Most Concentrated State Tech Sector in the Nation*

6,777 Patents filed by Massachusetts Companies and Universities in 2015****

*MassTLC 2015 ”State of Technology” Report

**2011-2015 Source: PwC

***National Center for Education Statistics, 2014

**** The Index of the Massachusetts Innovation Economy 2015/16, MassTech Collaborative

32

Massachusetts has a strong network of industry

and civic associations partnering with companies

and the state to support innovation and growth

Best State Sponsored Collaborators

33

Massachusetts is a world class destination for

startups. We want to work with you.

Connect with us:

Partner with Us

Timothy J. Connelly

Executive Director/CEO,

Massachusetts Technology Collaborative

Connelly@masstech.org

(617) 371-3999

@Mass_Tech

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Appendix

35

• Massachusetts has 122 commercial companies in the robotics cluster;

• Between 2011 and 2015, 33 new robotics businesses were created in

Mass., up 57% from five years earlier;

• Mass. robotics companies employed 4,716 individuals;

• Mass.-based robotics companies received over $190 million in private

investments in 2015, equal to 23% of total U.S. funding and second

highest of any state, only behind California.

(source: MassTech 2016 Robotics Report)

Robotics

36

• Among U.S. states, Massachusetts has the

third-most cybersecurity firms (35) among

the top 500, behind California (150) and

Virginia (41). (Source: Cybersecurity Ventures Cybersecurity 500)

• In 2015, at least 12,370 employees worked

in cybersecurity in Massachusetts (source:

MassTech analysis of reporting by Burning Glass)

Cybersecurity

37

Big Data/Analytics

38

Digital Health

Digital Health leverages

industries and

capabilities in which

Massachusetts excels:• Leaders in US health reform

• Top healthcare delivery hub

• Dominant Talent Pool and

University Networks

• Strong startup climate

• #1 global life sciences and

medical device ecosystem

• Competitive investment/VC

landscape

• Growing tech clusters in software,

big data, robotics, cybersecurity,

and other areas

39

• All of the world’s top 10 largest

biopharmaceutical firms maintain

facilities here, along with 550 other

biopharma companies and more than

400 medical device makers

• Life Sciences employs over 95,000

talented workers in Massachusetts

• 10-year, $1 billion comprehensive

state initiative supporting life

sciences innovation

(source: MLSC)

Life Sciences

Strong Cluster Network:

40

Talent/Workforce

There are 114 colleges and universities in Massachusetts enrolling over 400,000

students seeking bachelor's or associate degrees (Based on National Center for

Education Statistics, 2014).

Massachusetts is home to the most STEM Degrees in

the U.S. per million residents.(source: NCES)

Massachusetts has the Highest Percentage (46.1%) of Adults in US with a

Bachelor’s Degree or Higher.(source: NCES, NSF)

• Massachusetts is #1 in awarding

new college degrees per capita, with

over 117,000 higher education

graduates in 2014, inclusive of

community college, four year

degrees, and advanced degrees.

• 50 of these colleges and universities

are in the greater Boston

metropolitan area, which is home to

more than 250,000 students.

41

R&D

Massachusetts continued

to be the top state in terms

of R&D as a percentage of

GDP in 2012 .

42

Venture Capital

Massachusetts has more

than 700+ venture capital

professionals from 80+ firms

and its members collectively

manage more than $50 billion

in capital*

Early stage financing in the

state grew by 58% from 2013

and has tripled since 2008,

highlighting investors’ interest

in younger start-up firms.**

*NEVCA.org**pwcMoneytree

$-

$500,000,000

$1,000,000,000

$1,500,000,000

$2,000,000,000

$2,500,000,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

VC Investment by StageMassachusetts, 2005-2014

Seed Early Stage Expansion Late Stage