Surge is a platform of Peak XV Partners (previously known as Sequoia Capital) launched in 2019 with a mission to assist founders in establishing the framework for businesses that will persist. The essence of Surge encompasses four fundamental elements: capital, community, learning, and commitment. Surge integrates a capital infusion of up to $3 million with a learning program and comprehensive assistance in company development. This support leverages a rich reserve of collective expertise derived from the Peak XV team’s extensive experience collaborating with businesses spanning various markets and sectors. The program delves profoundly into the core principles of fostering sustainable growth.
The Surge program spans 16 weeks and employs a blend of face-to-face and online group sessions. At the commencement and conclusion of the program, founders usually gather for three to four days of in-person collaboration. Additionally, they participate in weekly online group sessions every Thursday during the intervals between the in-person meetings. Moreover, there are optional studio sessions led by operators focusing on specific aspects of company building on designated weekdays while Surge is in session.
Surge accepts applications from idea or pre-launch phase to newly launched to post-launch phase startups. The founding team’s caliber takes center stage in importance at Surge. In the case of pre-launch ventures, Surge seeks a robust alignment between the founders and the target market, coupled with sizable addressable markets. When evaluating post-launch companies, Surge places emphasis on early indicators of substantial user affection. Metrics such as engagement and retention rates, product usage patterns, initial user feedback, and customer reviews serve as benchmarks. For companies already generating revenue, Surge scrutinizes unit economics to glean insights into the nascent stages of a sustainable economic model.
Surge is deliberately kept compact and selectively chosen. Typically, a Surge cohort consists of 10 to 20 companies, though there have been instances of larger cohorts exceeding 20 companies. 38 startups have raised investment through Surge till date.
Companies in the Surge program typically originate from India, Southeast Asia, and Australia. Additionally, Surge has witnessed founders from various other countries participating, reflecting the contemporary trend of remote and decentralized company development. Surge embraces a sector-agnostic approach, collaborating with technology-enabled enterprises spanning a diverse array of industries. These include, but are not confined to, AI, SaaS, DevTools, cybersecurity, DeepTech, advanced manufacturing, climate tech, FinTech, consumer brands, vertical commerce, B2B, agritech, digital health, and EdTech.
Key benefits:
- Opportunity to raise up to $3 million as seed investment
- Opportunity to raise Series A through UpSurge
- Access to the global network of the Surge community
- Access to the extensive learning curriculum of Surge
- Access to the top-notch industry experts from Surge
Application details:
To apply to the upcoming cohort of Surge please click on the following link: https://surge.peakxv.com/application-form/
Application closes on 31st August 2024
If you have more queries, then please see the FAQ page at the following link: https://surge.peakxv.com/faqs/