The efforts of two co-founders alone were not enough to compete with the well-funded companies in this space.
“But without a way to harness and distribute funds for expansion, we simply could not grow fast enough.
As the lead investor, we committed 5,000, of which 75% was disbursed over the last 12 months following the completion of due diligence.
We were committed to providing the remainder of the investment to support Siren’s expansion, and sent our consultant to work with the team on their strategic direction.
We’ve reached out to the firm for more details and will update this post when we hear back.
Update: On Friday, Blackrun responded to Geek Wire and provided this statement: “Blackrun Ventures joined a number of investors to participate in Siren’s 0,000 seed funding round.
Through the dedication of these committed individuals we were able to continue development, however we could never plan beyond a few months, hindering growth, milestones, and new funding opportunities.
Despite the uncertainty shadowing us, we did our best to build on our momentum, doing everything within our power to stay afloat.Our advisors and investors rallied us on and supported us in our darkest days, and here at the end, they are with us, restating how honored they are to have been part of this venture.Siren’s story inspired over 200 pieces of press, from the front page of the Seattle Times to CNN, NPR and the Guardian, to Bustle, the Stranger and The Establishment.Yet, as of this writing, a full calendar year later, they have not completed their obligation.Instead, we received small, unpredictable amounts, with the other investors courageously stepping forward.Siren was a lightning rod for progressive spirit in the tech community, bringing together a dynamic group of advisors and investors whose fundamental integrity and respect for women’s issues is unparalleled and unique.