Expa raises $100m, launches Expa Labs
March 30th 2016
We are excited to announce that Expa has raised an additional $100m of financing from investors to design and develop new companies. Investors include Garrett Camp (founder of Expa & Uber), TPG founder David Bonderman, Li Ka-Shing & Solina Chau, Google board member Ram Shriram, RIT Capital Partners, Virgin founder Sir Richard Branson, HP CEO Meg Whitman, Ace & Company, Kees Koolen & SV Angel.
During the past 2 years Expa has helped create 15 new companies, including Spot.com, Operator.com, Mix.com, Reserve.com and more. With this second round of financing, the Expa Studio will continue following our primary model, in which an Expa Partner or experienced CEO develops and launches an idea from scratch. We have several more exciting projects launching soon, which we think will improve millions of people’s lives.
We are also excited to launch Expa Labs, where we will be accepting applications from founders who have promising startup ideas. Expa Labs will be very focused, accepting up to 6 companies in our first session, and will provide $500k of seed funding + 6 months of office space in SF or NYC. We will be actively helping Labs companies leverage the Expa platform, to avoid common pitfalls in early-stage ventures and actively remove roadblocks along the way. If you are interested in learning more, please visit Expa Labs.