What Is Text Blaze?
The company was founded in February 2019 by entrepreneurs Dan Barak and Scott Fortmann-Roe. Before founding the California-based startup, the two founders had a background in technology and business, working at Google in San Francisco. Both specialized in engineering and machine learning.
Text Blaze ultimately came out of trends sweeping the US: automating the written word and writing assistance. Multiple other high-profile startups highlight the potential of this industry, such as Grammarly, a California-based company that sells a digital writing assistant, and CopyAI, a startup that builds AI-powered copywriting tools for business customers. The latter business has raised more than $200 million in funding and serves a customer base of millions.
With their fresh take on writing automation in mind — a business that combines both automation and writing assistance together — the founders took their company to the Winter 2021 Y Combinator startup accelerator batch. This helped develop the business model and product, which is a Chrome extension that allows users to save snippets of text they can quickly and easily add to message, emails, and more. Text Blaze also saves template snippets with boxes left to fill in, further automating the writing process.
Money and Investors
The startup has raised $3.4 million to date, according to investment tracking platform Crunchbase. The company raised $125,000 in a pre-seed round in January of this year as part of the startup accelerator, with Y Combinator as the lead investor.
However, the biggest funding round for the business came this month when Text Blaze secured $3.3 million in funding in a seed round. The round was led by investor Villi Itchev of New York-based Two Sigma Ventures and Leo Polovets of San Francisco-based Susa Ventures.
Both investors praised Text Blaze and the company product in statements about the funding round. Polovets said she “fell in love with the [startup’s] product” and “wanted to invest as soon as [she tried it].” Meanwhile, Itchev said the company reminded him of the early days of now-global task automation company Zapier, “except Text Blaze provides a more approachable and easier to adopt entry point through written communications,” the investor said.
The Future of the Company
With this support under its belt, Text Blaze just needs to focus on building out its customer base — a process that is already underway and apparently working successfully. The Text Blaze Chrome extension has already attracted more than 70,000 users in the short time since the company launched the product. The startup also said 70% of the users who have signed up for the automation software signed up with their corporate email, which could give the company a new inroad for working with businesses.
About the Author
Jemima is a journalist who enjoys reporting on business, particularly small business and entrepreneurship.