{"id":343534,"date":"2017-06-13T21:57:39","date_gmt":"2017-06-13T13:57:39","guid":{"rendered":"http:\/\/techcrunch.com\/?p=1502906"},"modified":"2017-06-13T21:57:39","modified_gmt":"2017-06-13T13:57:39","slug":"submission-management-startup-submittable-raises-5m","status":"publish","type":"post","link":"https:\/\/people.utm.my\/asmawisham\/submission-management-startup-submittable-raises-5m\/","title":{"rendered":"Submission management startup Submittable raises $5M"},"content":{"rendered":"

<\/p>\n

Submittable<\/a>, a startup used by more than 9,000 companies to manage submissions, has raised $5 million in Series A funding.<\/p>\n

Missoula, Montana-based Submittable was founded in 2010 with an initial focus on literary magazines<\/a> that wanted help keeping track of manuscript submissions. As co-founder and CEO Michael FitzGerald put it, \u201cWe started with the poorest customers you could possibly imagine \u2014 poetry magazines.\u201d<\/p>\n

Since then, the startup has expanded to work with a variety of organizations on managing digital content, including r\u00e9sum\u00e9s, applications and contest entries, with customers including TEDx, The New Yorker and Stanford University.<\/p>\n

The next step is building out what FitzGerald calls an \u201copportunities marketplace.\u201d In its current form, that means Submittable can algorithmically generate recommendations for writers and filmmakers about where they should submit their work.<\/p>\n

\u201cOur core belief has always been that the muscle that you use \u2026 to create your story is a totally different muscle to getting it published, promoting yourself, doing all that undignified work,\u201d FitzGerald said. \u201cSubmittable\u2019s goal is make it effortless for the writer, for the creator to find opportunity.\u201d<\/p>\n

That approach also opens up new opportunities for revenue. FitzGerald said Submittable\u2019s business model will always revolve around selling submission management software to companies, but it could bring in additional revenue by allowing those businesses to promote their calls for submissions through advertising, and by creating a premium version for writers.<\/p>\n

The Series A comes from True Ventures, and it represents the firm\u2019s first investment in Montana. FitzGerald acknowledged that starting a company outside the country\u2019s main startup hubs has scared off some potential investors, but he said he\u2019s hoping this investment is \u201cbreaking the ice a bit.\u201d He also said Submittable didn\u2019t have to raise the funding \u2014 it was already profitable, with more than 35 employees.<\/p>\n

\u201cWe\u2019re really excited to invest in Submittable because of its great potential as a new kind of SaaS marketplace where both businesses and users benefit across many different verticals,\u201d said True\u2019s Puneet Agarwal in the funding release.<\/p>\n

Featured Image: Seth Sawyers\/Flickr<\/a> UNDER A CC BY 2.0<\/a> LICENSE<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

\"manuscript\" Submittable, a startup used by more than 9,000 companies to manage submissions, has raised $5 million in Series A funding.
\nMissoula, Montana-based Submittable was founded in 2010 with an initial focus on literary magazines that wanted help keeping track of manuscript submissions. As co-founder and CEO Michael FitzGerald put it, “We started with the poorest customers you could possibly… Read More<\/a><\/p>\n

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