At Pear, we have been leading pre-seed rounds in very early stage companies for the last 9 years. These pre-seed companies have typically participated in our Accelerator program, which was developed as a bootcamp for ambitious founders with high potential ideas. Through this program, we help founders pick the best idea, build the highest potential product, find the right market, and lay the foundations for a venture backable company.
Pear Accelerator has been the birthplace of category-defining companies like Affinity, Xilis, Capella Space, Nova Credit, Cardless, Viz.ai, and more. To date, we’ve invested in 120 companies at the pre-seed stage including Branch and Aurora Solar. In total, our pre-seed investments are now valued at nearly $10B.
Today, we’re excited to announce that Pear Accelerator will now be known as PearX, an early-stage bootcamp. In addition to the name change, we’re expanding our pre-seed offering by investing up to $2M in companies that apply to the program.
By expanding check sizes up to $2M, we’re now able to accept a wider range of founders into PearX. Some founders come to us while they’re still ideating on a company concept, yet others have products live and have demonstrated early traction, but still need help with critical company-building steps like recruiting or go-to-market. A larger initial check will enable to us to include a wider range of companies into PearX.
PearX had humble beginnings. 8 years ago, a few students in Pear Garage wanted to keep working on their projects through the summer. We wrote them a $25k uncapped note, and by the next year, we had an Accelerator program with a Demo Day that made headlines. Today, PearX is a core part of what defines Pear.
We invest in people, and the name “Accelerator” didn’t quite capture our high-touch, hands-on approach to what that means. As a team almost entirely composed of founders across a variety of sectors, we’ve been in your shoes before. You’ll meet with the team several times a week and have two partners dedicated to you. We’re in the trenches right next to you, helping you find your co-founder, hone in on product-market fit, craft the right pitch— whatever variable makes the biggest impact to your company.
Today’s markets are shifting faster than ever before, and Pear is dedicated to evolving alongside them. We invest across the board from AI/ML to consumer to healthcare and more, and we accept teams in various stages of progress. Our program employs an all-star cast of mentors and culminates in a Demo Day to thousands of investors where 85% of our companies end up raising from tier 1 institutional investors.
Eight years ago, we couldn’t have imagined what PearX would become, but no program exists that has a higher conversion rate from pre-seed to seed. We’ve developed an intimate, high-touch bootcamp to help the most ambitious founders build the next generation of groundbreaking companies – and the best is yet to come.
Out of 120 companies that we have pre-seeded, 15 are worth $100m, and 3 are worth over $1b. You could be next— apply to be a part of the next PearX cohort here.