Venture Atlanta Conference 2016
Venture Atlanta
Mar 9 /

How Hux Raised a $1.25 M A Round by Stanley Vergilis

Hux [Venture Atlanta 2015] is on a mission to grab a share of the $800 billion local service industry defined as services that include home cleaning, lawn care, pet-care and other hyperlocal services. The startup provides a technology platform that enables local service providers to create and run their own micro-business much like Etsy does for sellers of handmade products.

Aided by introductions from Venture Atlanta alum CEOs Marc Golin and Adam Mangone, the startup closed a $1.25 million round in February, which isn’t particularly remarkable in of itself, but is significant considering that Hux, a B2C startup, secured an Atlanta-based lead investor whom they met at the 2015 Venture Atlanta conference.

Does this signal interest in B2C startups in Atlanta by local investors or just an anomaly You be the judge as Hux CEO and co-founder Stanley Vergilis shares his funding journey. Share your opinion in the comments section.  

Stanley Vergilis headshot

Stanley Vergilis, Hux

Raising West Coast money from 3,000 miles away isn’t easy. There’s no infrastructure. Very few people can make introductions to investors and even fewer can provide meaningful advice.

For Hux, strong traction opened doors to entrepreneurs in the Bay Area who were intrigued. We grew to a $1mm+ run rate on a $20K investment and they wanted to know how. That intrigue evolved into introductions and meaningful help.

Hux investor Adam Mangone, Roadie CEO Marc Gorlin and Chris Morton, president at San Francisco-based BlockScore were my A-Team. With their help I took two trips to the Bay Area and spoke with dozens of VCs. Despite some interest, we didn’t have the “aha” moment we were looking for.

When I returned from my second trip, I reached out to Teresa Dau with Dau Group, she saw me pitch at Venture Atlanta. She was surprisingly decisive and handed us an entrepreneur friendly term sheet with terms that were more typical of those offered in the West Coast. We had a deal.

Deal in-hand, I went back to Silicon Valley determined to find the right investor to close out our round. Morton introduced me to Adam Draper with whom I took a call. On the call, Adam didn’t seem very interested until I told him we were profitable. He immediately introduced me to Billy Draper on the investment team at Draper Associates.

I met with Billy and we clicked. He had a clear understanding of our concept and a genuine demeanor. He scheduled a meeting with Tim Draper and within hours, the team at Draper Associates offered double the amount needed to close the round.



Have a news tip or someone we should feature? Email Jacqui.


gsi commerce q3 2007 earnings call transcriptLamar Smith said. But “we cannot legislate the elimination of injury from the games without eliminating the games themselves. The NFL does not need Congress to referee this issue.”Goodell cited multiple policy changes implemented during his tenure, including a retroactive increase in pension benefits and the 2007 creation of the NFL’s 88 Plan, which helps cover treatment costs for retirees suffering from dementia.”We will not reduce or eliminate funding for these agreements” based on the status of collective bargaining negotiations, he promised. OURAND: Well, the average is getting close to $4 million per 30 seconds, which is yet another record. And the records go up cheap football jerseys by about 10 percent each year, it seems. And advertisers still view even with that big price point the Super Bowl as being just the best place to shop their wares.Atlanta Falcons receiver Julio Jones said he is to go for the game Sunday at Oakland Cheap Football Jerseys Oakley Sunglasses Outlet as he tries to move past a nagging ankle injury. He tweaked his left ankle Authentic NFL Jerseys last week in a 31 24 loss to Tampa Bay. . The Buffalo Bills promoted offensive lineman Gabe Ikard from their practice squad and released linebacker Bryson Albright. . Fred Quillan, the former San Francisco center who played on the 49ers first two Super Bowl champion teams, died Monday at the age of 60.But if we had to put the whole Cowboys and Indians battle in a Hollywood log line, we’d say the Indians put up a good fight, but were no match for the white man’s superior technology. As surely Cheap NFL Jerseys China as scissors cuts paper and rock smashes scissors, gun beats arrow. That’s just how it works.Among non playoff teams, Arizona routed Los Angeles 44 6, Minnesota ripped Chicago 38 10, Cincinnati downed Baltimore 27 10, Indianapolis edged Jacksonville 24 20 and the New York Jets thumped Buffalo Cheap Jerseys from china 30 10 with the Bills stunningly allowing New York’s Doug Middleton to recover a Jets kickoff in the end zone Fake ray ban Sunglasses sale for a touchdown.Barron’s has taken on Kinder Morgan for quite a while. For the time being it looks as if the bear attacks were successful. More sellside analysts will also have to consider the change in narrative and potentially downgrade Kinder Morgan’s stock, which will have, first and foremost, negative implications for KMI and its prospects for capital appreciation. The stock may be up after Kinder Morgan announced the dividend cut, but there is a very real chance that the stock will head for new lows in the weeks ahead as more negative commentary trickles in.

Comments are closed.