When it comes to building a successful business that advances all of us forward, having the right investors on your team can make all the difference. They bring much-needed financial support and provide valuable guidance, connections, and expertise to help a team grow and thrive. At GLASS, we're honored to work with investors who are not only accomplished professionals, but who are also passionate about our mission to streamline small government purchases, and our vision of powering governments with category-defining e-Commerce solutions.
Our company, a Silicon Valley startup that’s pioneering government e-commerce and revolutionizing a global $3.7 trillion industry, just announced $3 million in funding from leading e-commerce and government procurement investors. The new investment will play a crucial role in propelling the company to expand its impact throughout U.S. government agencies. The funding, along with investor and advisor support, will enable us to accelerate our company growth both nationally and internationally.
We are honored to introduce the investors supporting our next phase in this transformative and groundbreaking journey.
Ivan Alo and LaDante McMillon: Co-founders of New Age Capital, a thesis-driven seed stage venture capital firm that invests in tech and tech-enabled startups founded and led by Black and Latino entrepreneurs.
“GLASS is positioned to capture a unique opportunity at the intersection of digital innovation and government procurement. We love to invest in companies in which software can solve an immediate need within legacy industries and where early adoption is driven by the founders' domain expertise and unique insights. Most investors tend to avoid startups that sell to the government due to the perception that the sales cycle is too long and bureaucratic. In the case of GLASS, Paola's expertise in government procurement coupled with the team's clear ability to attract government clients with their product offering leads us to believe GLASS will unquestionably be the dominant player in the market over the long term,” shares Ivan Alo, Co-founder, New Age Capital.
Diego Noriega, Sacha Spitz, and Mariano Mayer: Partners at Newtopia VC, who alongside Patricio Jutard, Juan Pablo Lafosse, and Jorge Aguado founded the early stage VC that “was born to back extraordinary Latin American entrepreneurs in the very (very) early stages of their tech startups.”
“Look for founders who are aiming to solve massive problems and transform the industries where they operate. GLASS’ goal is to build the next generation of public procurement platforms in a multibillion-dollar and legacy industry that can not remain immune to the technological and digital revolution. Moreover, the founding team deeply understands the industry, which is necessary for strategically achieving its vision. We are happy to have partnered with GLASS to continue working towards a more efficient process that impacts the allocation of public funds, making GLASS the number one platform for government procurement,” shares Sara Gandini Gubinelli, Investment Analyst at Newtopia VC.
Will Weisman: Prior to launching his venture, KittyHawk Ventures, Weisman served as an Executive Director at Singularity University, a renowned think-tank, where he focused on helping individuals, businesses, and governments prepare for the rapid advancements in technology that are shaping our future.
“At KittyHawk we look for companies driven by extraordinary entrepreneurs that are mission-driven to solve hard problems that can really make a difference in the world. The combination of Paola Santana and the opportunity to create a better functioning and more transparent government certainly checked those boxes for us and continues to drive our excitement about the company and the opportunity,” shares Will Weisman, Founder of KittyHawk Ventures.
Payam Zamani: Zamani, Founder, Chairman, and CEO of One Planet VC, directs investments towards innovative and high-growth companies in their Seed, Series A, and later stages. One Planet VC prioritizes businesses that embody the concept of "Innovation x Intention," where the fusion of commercial success and positive social impact drives growth.
“One Planet VC is thrilled to have invested in GLASS, a revolutionary company that perfectly aligns with our investment philosophy and focus areas. GLASS is leading the way in creating sustainable practices and making a positive impact on society through innovative, tech-enabled solutions. We were particularly impressed by GLASS’ mission to promote inclusive, sustainable, and compliant purchases through a government-exclusive marketplace. This aligns with our belief that all businesses have the potential to change the world and we are excited to support GLASS in its efforts. We believe that GLASS has tremendous potential, and we are confident in the company's ability to make a significant impact in the future. Our investment in GLASS represents our commitment to promoting innovative, sustainable solutions and we are excited to support GLASS in achieving its goals,” shares Samantha Brachat, Associate at One Planet VC.
Ravi Belani: At Stanford University, Belani serves as the Fenwick & West Lecturer of Entrepreneurship. Additionally, he is the Managing Director of Alchemist Accelerator, an enterprise-backed accelerator program supported by major players in the venture capital world, including Cisco, Draper Fisher Jurvetson, Khosla Ventures, US Venture Partners, and SAP Ventures.
“At Alchemist Accelerator we built our reputation as the world's leading program for enterprise startups by betting on brilliant founders and supporting them through their journeys. We are always thrilled when an Alchemist graduate returns with another great company idea, and this was the case when Paola brought us the pitch for what has become GLASS. There's no good reason for public sector procurement to be inaccessible and wasteful. GLASS replaces inefficiency and obscurity with clarity and transparency. We couldn't be more excited for the company's future,” shares Rachel Chalmers, President and Managing Director at Alchemist Accelerator.
Payal Gandhi: Former Vice President and Head of Investment Analysis of Kimpton Hotels Investment, and a seasoned real estate expert with a strong interest in incorporating cutting-edge technology into the housing and hospitality industries. Gandhi’s expertise lies in areas such as business development, investment management, product marketing, and strategic finance.
“I see GLASS as a pioneer in its space, having made significant traction to date with forward-positioning governments embracing innovation and seeking more efficient, streamlined technology platforms to support their operations. As an early investor in GLASS, I was inclined to support a strong management team and also diversify my portfolio with an early stage, high growth potential startup,” shares Payal Gandhi, former Vice President and Head of Investment Analysis of Kimpton Hotels Investment.
Thiru Vignarajah: As the CEO of Capital Plus Financial, a Community Development Financial Institution (CDFI) based in Baltimore, Vignarajah is dedicated to promoting equity in the banking industry by removing obstacles for minority-owned small businesses and people of color.
“As a community development financial institution and Certified B Corp, Capital Plus Financial launched our Dolphin Tank social impact venture competition as a way to identify companies that were taking on and tackling the country’s biggest challenges. Our West Coast first-place winner GLASS is transforming the way governments make purchases through its digital procurement marketplace. It is focusing on an issue – government procurement – that half the world thinks doesn't matter and the other half thinks isn't a problem. GLASS is on its way to proving the whole world wrong. GLASS has the potential to bring small and minority-owned businesses into a once-closed ecosystem of vendors, a truly revolutionary step forward – and one that will bring value not only to its investors but also to the communities it serves as well. We could not be more proud to be part of the journey,” shares Thiru Vignarajah, CEO of Capital Plus Financial.
José Manuel Martin and Fernando Marroquín: Directors at NOA Capital Corp., a Mexican investment fund that was drawn to the technological advancements made by us specifically for Mexico City.
“GLASS fits in our overall investment strategy as it fits with our investment thesis: it is an early-stage company, the sector that it targets fits with our investment guidelines and provides diversification not only in terms of industries & types of customers but also in terms of geographies. We see great potential in GLASS as it targets an important problem Governments face day to day and we think that it has the potential to address all these needs. We are excited by the management and the product offering of the Company. As with every early-stage company, we also see risks. One of them is the monetization strategy and revenue growth,” shares María Martha Ceniceros Menendez, Portfolio Manager at Corporación Inmex - NOA Capital Corp.
Salman Bache: Angel investor from the Dominican Republic, eager to support our company’s development of government products and services.
“When we evaluate investments we weigh the human talent. We think it’s the people behind the project who really make the difference. Given Paola’s track record and ambition, we saw GLASS as a fit for our investment strategy. There are people who are worth backing and that was definitely the case with GLASS and their team. I believe there is a chance to make government purchases more efficient and that this can free up government funds that could be reallocated for other important causes,” shares Salman Bache.
We have also received capital support from organizations such as SV Links, devoted to connecting business experts from emerging countries with Silicon Valley’s entrepreneurs and startups; Alcove Investment Management, a globally-focused venture capital fund that specializes in seed-stage investments; PeopleFund Inc., a global organization that works closely with teams of private and publicly traded early through growth stage companies; Tubbs Ventures, founded by former Mayor Michael Tubbs with the mission to promote innovation and foster equal opportunities in the U.S.; The Worldgate Group, a global business consulting firm that specializes in helping clients navigate complex business challenges and capitalize on emerging opportunities; and Angel investors from Roblox and renowned Silicon Valley tech companies.
“Milton Park Capital is thrilled to partner with GLASS in the journey to revolutionize how governments buy. We partner with world-class founders who have the vision, insight, and grit necessary to transform how our world works – Paola and team are a fantastic fit,” shares Antoine Francoeur, Angel investor, and Corporate Development, Roblox.
Having the right investors and advisors on board is crucial for any startup, and our team has been fortunate to work with a group of VCs and investors who bring capital, guidance, and expertise to the table. As we continue to grow and expand, we are excited to have their ongoing support and look forward to working together to create innovative, tech-enabled solutions that promote inclusive, sustainable, and compliant government purchases via Glass Commerce.
For more information visit www.discover.glass. Learn more about GLASS’ government marketplaces at www.commerce.glass.
This blog was written by Gisela Montes, GovTech Community Lead at Glass.