Remember when VCs only invested in companies within driving distance? Those days are over. The imminent Sequoia Capital led a $1 million round for Y Combinator graduate Tutorspree, a tutor marketplace co-founded by a couple Jersey boys (and an L.A. boy) who recently bounced back from the Valley to New York City. “If we were building a super technical or really intense algorithm product it might have made sense to stay there,” co-founder and CEO Aaron Harris told Betabeat last month. “But we sort of looked at where our largest source of business was going to be. New York was the place.”
He also talked about how excited he was to see New York pizza again. “The pizza in Silicon Valley is terrible,” he said. “It’s the water… pizza has been a critical part of my diet for a long time.”
However, it’s still more difficult to get funding in New York, Mr. Harris said. “We need more time to get there. We need more big exits and big success,” he said. The six-person company’s round includes a few New York investors, including Lerer Venturs, Thrive Capital and Alexis Ohanian. Founder Collective, SV Angel also participated with Paul Buchheit, Geoff Ralston and Tim Brady.
“Going to be using the money to really push one-on-one learning,” Mr. Harris said in an email. “Practically speaking that means growing out our qualified tutor base even faster such that we can meet demand (we see a lot of requests/searches that we can’t fill as rapidly as we want right now), and improving the systems through which tutors are matched with students and book lessons.”