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The Myth of the Silicon Valley Locale – True Ventures invests in Missoula, Montana-based submission management startup Submittable

Today, we’re announcing our Series A investment in Missoula, Montana-based Submittable https://techcrunch.com/2017/06/13/submittable-series-a/ http://www.submittable.com .

Submittable http://www.submittable.com is a cloud-based, submission management marketplace that allows for easy submitting and accepting of digital content of all types. In its early days, writers used Submittable to send creative work to publishers and literary magazines. Now, the company is expanding to new verticals, allowing the platform to be used by businesses to review job applications, scientists to apply for grants, and more.

Traction is entirely organic and completely off the charts. More than 10,000 customers including businesses, nonprofits and publishers now use the product, and over two million users have signed up for the submission platform. It’s a rare combination of a high-growth SaaS company and a thriving two-sided marketplace.

The company has an incredible story. Co-founders Michael FitzGerald, John Brownell and Bruce Tribbensee didn’t have any money to start the business initially. They applied to YCombinator in 2012 on a whim. Sure enough, they got in and the three co-founders moved to Mountain View, California for three months to accelerate the company.

Through sheer determination and will, they continued to iterate until they hit on a clear horizontal need that nearly every company in the world could use. Now they have more than 35 employees, all based in Missoula, with the plan to aggressively hire more.

Some entrepreneurs might see this midwest location as a risk, but not Submittable’s Michael FitzGerald. Michael told the Missoulian, a local newspaper, his goal of eventually having "a 500-person company in Missoula, Montana." A father himself, he wants his two kids to like the idea of sticking around to work and live.

On a larger note, Submittable is not only building a great business but has the potential to change a local economy. The company has enabled many of its employees to buy homes for the first time, a stat they actively track. It is bringing jobs, growing the tech scene and breaking down barriers all at the same time.

This is the kind of mission we are proud to be a part of and invest in. We are also thrilled to be working alongside Will Price of Next Frontier Capital who introduced us to Michael and the Submittable team.

Puneet Agarwal

Full Story: https://trueventures.com/submittable-true-ventures/

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Missoula, Montana-based submission management startup Submittable raises $5M http://www.matr.net/article-77458.html

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