Albiware Inc. (Albi) today announced that they have been accepted into the Y Combinator Accelerator. Y Combinator (YC) is an American technology startup accelerator launched in March 2005. With a 1.5% acceptance rate, it’s considered to be one of the most he most renowned startup accelerators in the world and has backed over 3000 companies such as Airbnb, Stripe, Dropbox, Coinbase, and Reddit. As of January 2021, the combined valuation of the top YC companies totals more than $300 billion.
“This is an absolute game-changer for restoration tech. The once ‘unattractive’ space of technology for restorers is now being sought after by large technology investors. We’re honored to be the team that is considered the best fit to solve the technological problems of restorers!” said Alex Duta, co-founder, and CEO of Albiware. He further said, “Through YC’s investment, their impeccable program, as well as an abundance of resources, the doors open for Albiware to fulfill its mission of helping restorers embrace innovative technology by making it simple and accessible!”
“We’re excited to welcome Albiware into Y Combinator’s Summer ’22 batch,” said Jared Friedman, Group Partner at Y Combinator. “We were very impressed with Albiware’s progress; they’ve already built quite a significant business. They’re also building the product that they themselves wanted when they worked in restoration, so it’s no surprise that other companies in restoration want it too.”
About Albi: Albi is a restoration job management platform built for the future by restoration contractors. They help restoration contractors complete more jobs and get paid faster. More information can be found at www.albiware.com
About YC: Y Combinator is a startup fund based in Mountain View, CA. In 2005, Y Combinator developed a new model of startup funding. Twice a year, they invest in a select number of startups. The startups move to Silicon Valley for 3 months, and the YC partners work closely with each company to get them into the best possible shape and refine their pitch to investors. Each batch culminates in Demo Day when the startups present their companies to a carefully selected audience of investors. Y Combinator has invested in over 3,000 companies including Airbnb, Dropbox, Stripe, Reddit, Instacart, Docker, and Gusto. The combined valuation of YC companies is over $300B.
For more information about Y Combinator, visit www.ycombinator.com.
