Do Not Forget Google When Seeking VC Funding For Tech
You need to look outside the box often to find VC funding. One firm to keep in mind if you are tech related is Google. The company has a VC arm known as Google Ventures.
In case you haven't noticed, Google has an embarrassment of riches…literally. The company consisted of two blokes in the late 1990s and now is the dominant force in the search engine game. The secret weakness of Google has always been that it is a one trick pony, to wit, its only revenue source of significance online is the money it makes on Google Adwords. Mind you, it is a really nice pony, but companies relying on one trick crash sooner or later.
To its credit, Google seems to realize as much. Unlike Yahoo, Google is not relying on its current monopoly…err, dominant position in search. Instead, it is using its pile of money to look around for other revenue sources. You see one constantly if you watch television - the Android mobile phone platform that competes with Blackberry, the iPhone and what have you.
Google is also in the venture capital game. The company has a division known as Google Ventures. It is not a huge player in the game, but the company contributes $100 million a year to its Ventures division. Ventures has a staff of 15 and some serious heavy hitters either running it or advising it including Excite founder Joe Kraus and both YouTube founders. This is important because it gives Ventures a perspective of the small business person with the huge idea, a view that many more established VC funds have lost.
So, what does Google Ventures look to fund? As you might guess, it has a definite technology bend to its view. That being said, the technology does not have to be internet oriented. One of the best known companies being funded by Google is Silver Springs Networks. This company is developing technology related to the proposed smart grid for the nation's electrical network.
Google is obviously a massive success when it comes to the online search game. The fact it has a venture capital arm is something many companies looking for funding don't seem to realize. If you are seeking investment and have a technology element to your business, Google Ventures may just be worth contacting.