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Angel Investor (Group)
allianceofangels.com

Investments

372

Portfolio Exits

54

Funds

2

About Alliance of Angels

Formed in 1997, the Alliance of Angels (AoA) is a regionally-focused group of over 100 individual investors and representatives of investment corporations. The group focuses on growth-oriented early-stage companies in the Pacific Northwest.

Headquarters Location

719 Second Avenue Suite 1403

Seattle, Washington, 98104,

United States

206-438-1870

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Latest Alliance of Angels News

Income Verification Automation Company Payscore Closes Financing Round

Mar 30, 2023

Payscore announced it closed a financing round led by ffVC. Payscore – a FinTech company automating income verification for property managers and consumer lenders – announced the successful close of a financing round led by ffVC of New York, with SeaChange Fund, Hamilton Ventures, and Seattle’s Alliance of Angels joining the funding. Founded with the goal of accelerating a delay-ridden process while maximizing accuracy and minimizing liability risk, Payscore automates income verification, slashing an hour or more from time spent processing every application. And Payscore produces accurate reports at a rate 2-3X the competition. The process of relying on pay stubs to verify income leads to problems. Inaccurate and unfair income assessments are frequently subject to delay and often leave operators exposed to fraud and liability risk. And so in response, the company co-founders Fiebig and Arifin developed a solution delivering accuracy by design. This is an essential market to pursue as the U.S. residential rental market comprises of about 44 million units with an average turnover of 3 years and multiple applications per vacancy. Payscore has decades of experience in the property management and software industries. And the company co-founder and CEO Mark Fiebig succeeded in leadership roles at venture-backed and self-funded technology startups in several sectors including in real estate and specifically in property management and vehicle dealership operations. And Payscore CTO and co-founder Stephen Arifin and his engineering team provide technological leadership, having successfully shipped multiple products inside Microsoft, Amazon, and Meta. The additional members of the team each have over 30 years of directly relevant expertise. KEY QUOTES: “Verification of income deserves disruption on both sides of the transaction. We’re making it simple for applicants and operators to easily share and accurately assess the truth about income.” — Mark Fiebig, CEO and co-founder of Payscore “We’re excited about our solution’s ability to slash wasted time. Creating efficiency while ensuring fairness for hard-working people motivates our engineers every day.” — Stephen Arifin, Payscore’s CTO and co-founder “When verifying income, accuracy is everything. By analyzing consumer-permission data, Payscore ensures every applicant is evaluated fairly and objectively, even when income is cash-based, like tips, or fluctuates, like commissions.” Payscore eliminates a root source of fraud by integrating directly with financial institutions, reporting 100% bank-verified data and eliminating the need to collect and evaluate financial documents, or to guess whether those documents have been falsified. Fiebig commented, “We deliver the truth about income.” — Alex Katz, MD Partner at ffVC and Payscore board member “Rental demand exceeded supply for the last 10 years, persistently 35% of us are renters, and the market for income verification is large, growing, and self-renewing. The emerging dynamics of the modern workforce, inflation, and interest rate pressures create demand for property managers to reduce costs by automating processes, broadly increasing the value of Payscore’s solution.” — Prashant Kothari, MD of Hamilton Ventures, and the newest investor in Payscore Trending on Pulse 2.0

Alliance of Angels Investments

372 Investments

Alliance of Angels has made 372 investments. Their latest investment was in Payscore as part of their Seed VC on February 2, 2023.

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Alliance of Angels Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/14/2023

Seed VC

Payscore

$2.27M

Yes

2

12/9/2022

Seed - II

SunFly Brands

$0.26M

Yes

Alliance of Angels, and Undisclosed Investors

1

9/29/2022

Seed VC

Vega Cloud

Yes

2

9/6/2022

Series A

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10

8/1/2022

Seed VC

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$99M

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10

Date

2/14/2023

12/9/2022

9/29/2022

9/6/2022

8/1/2022

Round

Seed VC

Seed - II

Seed VC

Series A

Seed VC

Company

Payscore

SunFly Brands

Vega Cloud

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Amount

$2.27M

$0.26M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Alliance of Angels, and Undisclosed Investors

Sources

2

1

2

10

10

Alliance of Angels Portfolio Exits

54 Portfolio Exits

Alliance of Angels has 54 portfolio exits. Their latest portfolio exit was RiskLens on July 12, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/12/2023

Acquired

$99M

4

3/16/2023

Acquired

$99M

1

1/4/2023

Acquired

$99M

6

12/5/2022

Acquired

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$99M

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10

11/2/2022

Acquired

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$99M

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10

Date

7/12/2023

3/16/2023

1/4/2023

12/5/2022

11/2/2022

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

4

1

6

10

10

Alliance of Angels Fund History

2 Fund Histories

Alliance of Angels has 2 funds, including Alliance of Angels Seed Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/14/2015

Alliance of Angels Seed Fund II

Early-Stage Venture Capital

Open

$5.36M

3

5/5/2009

Alliance of Angels Seed Fund

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$99M

10

Closing Date

4/14/2015

5/5/2009

Fund

Alliance of Angels Seed Fund II

Alliance of Angels Seed Fund

Fund Type

Early-Stage Venture Capital

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Status

Open

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Amount

$5.36M

$99M

Sources

3

10

Alliance of Angels Team

2 Team Members

Alliance of Angels has 2 team members, including current Managing Director, Greg Huey.

Name

Work History

Title

Status

Greg Huey

Managing Director

Current

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Name

Greg Huey

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Work History

Title

Managing Director

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Status

Current

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