Hotglue, a Washington D.C.-based IT startup, recently made headlines by securing $4 million in seed funding. The round was led by 8VC, with participation from other notable investors like Y Combinator, Correlation Ventures, Wayfinder Ventures, and TDF Ventures. This comes on the heels of their initial pre-seed round where they raised $1.5 million in 2021.
The brains behind hotglue, CEO Hassan Syyid and Chief Revenue Officer David Molot, met at the University of Maryland and decided to drop out to pursue their entrepreneurial dreams. The company, founded in late 2020, focuses on providing embedded integrations for B2B Software-as-a-Service (SaaS) platforms. The idea stemmed from Syyid’s previous struggles with native integrations and the need for a seamless developer experience in handling integrations.
Since its inception, hotglue has experienced significant growth, expanding its customer base from just five clients to over 65 across the U.S., Europe, India, and South America. Notable clients include ChargerBee, Nanonets, Wrapbook, and Precoro, with a substantial portion of their clientele being AI-focused companies.
The startup’s primary goal with the latest funding is to accelerate their Go-To-Market strategy, enhance their product offerings, and scale their engineering team to meet increasing demands. Additionally, they recently onboarded a Head of Sales to drive growth in larger organizations and sectors such as CRM, accounting, and e-commerce tools.
Looking ahead, the hotglue team is focused on achieving a Series A funding round within the next 18 months. While they currently do not have plans for partnerships or acquisitions, their proactive approach to growth and innovation is evident in their strategic roadmap.
As a journalist with a background in reporting on diverse topics, Mythili Devarakonda brings a wealth of experience to The American Bazaar. With a passion for serving the Indian American and South Asian communities, she aims to deliver quality news and insightful stories to her readers. Her past work with reputable publications and her dedication to journalism make her a valuable addition to the team.
