July was a big month for Bluevine.
We celebrated our 5th birthday. Our CEO and founder Eyal Lifshitz recorded this video message to thank our clients, the thousands of small business owners who trusted us with their funding needs.
We also reached an important milestone last month. We have now provided more than $1 billion in working capital to businesses across the country. That’s a significant achievement given that we only began financing small businesses four years ago.
Then we wrapped up July with some big news.
Just eight weeks after we announced a major round of funding from existing investors led by Menlo Ventures, we introduced two major high-profile investors.
M12 is Microsoft’s venture fund. The “M” is for Microsoft, and 12 refers to the number of letters in “entrepreneur.”
“We’re excited about Bluevine’s suite of technology-enabled working capital solutions for small and medium sized businesses,” M12 Partner Elliott Robinson said.
“The company’s market traction to-date has been impressive and we believe their technology and talent have set them on the path for continued growth. We look forward to seeing what they do next.”
The other major investor is Nationwide, the No. 1 total small business insurer in the United States.
“This investment aligns with our strategy to co-create value for our members to help them protect what’s most important and to plan for a secure financial future,” Erik Ross, Head of Nationwide Ventures, said. “Nationwide has a deep and enduring commitment to small business owners.”
It is a commitment Bluevine shares as Eyal Lifshitz affirmed on the anniversary video.
“We’re proud to be making a difference in the lives of many business owners. We’re committed to doing more for you by continuing to improve our products and growing our team of dedicated employees. We look forward to growing with you.”
SmallBiz Talk is a weekly summary of small business news and insights.