In an extraordinary entrepreneurial journey, 17-year-old Eric Zhu founded Aviato, an analytical platform for private market data, in an unexpected location—the bathroom of his high school in Carmel, Indiana. Now, his startup has successfully emerged from stealth mode, raising $2.3 million in venture funding.
The Vision Behind Aviato
Aviato aims to revolutionize private market data tracking by offering detailed insights similar to those provided by competitors like Crunchbase and PitchBook. However, Aviato takes a step further by incorporating additional metrics such as company credit card revenue, employee vesting schedules, and the current employment status of top engineers. This innovative approach is inspired by SignalFire’s internal database system. Zhu credits his collaboration with SignalFire’s founder, Walter Kortschak, for much of the guidance and inspiration behind Aviato’s development.
The Genesis of Aviato
Eric Zhu’s entrepreneurial journey began during the mundane days of the COVID-19 pandemic. At just 13 years old, he found himself delving into the world of venture capital and startups through Discord group chats featuring industry leaders like Sam Altman. This early exposure ignited a passion that would drive Zhu to launch his first company, Esocial, a digital platform for schools, in 2021. Remarkably, Esocial was acquired just 10 months later, marking Zhu’s first significant success in the startup world.
From Esocial to Aviato
Following the acquisition of Esocial, Zhu joined Bachmanity Capital, a fund known for backing early-stage companies with strong government application potential. During his time at Bachmanity Capital, Zhu identified a critical gap in the market: while data startups like PitchBook and Crunchbase excelled at tracking data, they lacked the analytical depth needed to make the data truly actionable. This realization laid the groundwork for Aviato, a platform designed to provide comprehensive and structured private market data analytics.
Unique Beginnings: The High School Bathroom Startup
The development of Aviato has an unconventional and intriguing backstory. Zhu conducted initial meetings from his high school bathroom, transforming a stall into a makeshift office complete with a green screen, a ring light, and an excuse to be out of class. This audacious strategy, while ultimately leading to his expulsion from school, proved effective in the short term. Before being expelled, Zhu managed to land high-profile customers such as NEA, Republic Capital, and 8VC.
Significant Funding and Support
Aviato’s impressive $2.3 million seed funding round attracted support from notable investors including 8VC, Soma Capital, and SoftBank. Among Zhu’s early backers was Eric Bahn, co-founder and general partner at Hustle Fund. Bahn was impressed by a cold email from Zhu, which he described as one of the best he had ever received. Despite initial skepticism due to Zhu’s young age and unconventional meeting location, Bahn recognized the teenager’s maturity and potential, ultimately deciding to invest.
Building a Strong Team
Aviato’s rapid growth and promising future are bolstered by a strong executive team. Last fall, the startup brought on David Razavi, former CTO of LowerMyBills and product lead at LendingTree, as a co-founder and COO. Joining them as CTO is Harrison Kessel, the third employee at Sequoia-backed Zeet, who played a crucial role in building out Zeet’s developer-focused data application platform’s data infrastructure. Zhu’s ability to attract such experienced professionals underscores Aviato’s potential and his leadership capabilities.
Moving Forward: From Carmel to San Francisco
Eric Zhu has since relocated to San Francisco, where he is completing his high school education online while fully dedicating himself to Aviato. Despite his parents’ initial confusion about his career path—his mother, in particular, had hoped he would become a doctor—Zhu remains unwavering in his commitment to Aviato’s mission. He is determined to sell the platform to every entity working with private markets, positioning Aviato as a potential replacement for established data giants like PitchBook.
The Market Potential of Aviato
Aviato is poised to make a significant impact in the venture capital and private equity landscape. By offering a platform that combines traditional data tracking with advanced analytics, Aviato provides users with actionable insights that can drive better investment decisions. The platform’s ability to track diverse metrics, from funding rounds and headcount to credit card revenue and employee vesting schedules, makes it an invaluable tool for investors and analysts alike.
The Importance of Structured Private Market Data
Historically, private market data has been notoriously unstructured and difficult to analyze. This lack of structure has led many funds to invest heavily in developing their internal databases. Aviato addresses this issue by offering a comprehensive and structured data analytics platform that simplifies the process of tracking and analyzing private market data. As a result, investors can make more informed decisions, ultimately leading to better investment outcomes.
The Role of SignalFire and Walter Kortschak
SignalFire, an early supporter of Aviato, has played a crucial role in the platform’s development. By providing guidance and inspiration, SignalFire’s founder, Walter Kortschak, has helped Zhu shape Aviato into a tool that mirrors SignalFire’s internal database system. This collaboration underscores the potential of Aviato to become a leading player in the private market data analytics space.
The Future of Aviato
Looking ahead, Eric Zhu and his team are focused on expanding Aviato’s capabilities and user base. By continuing to innovate and improve the platform, they aim to provide even greater value to their customers. Zhu’s vision is to make Aviato the go-to platform for private market data analytics, ultimately replacing established players like PitchBook.
Conclusion
Eric Zhu’s story is a testament to youthful innovation, resilience, and the power of unconventional thinking. From conducting meetings in a high school bathroom to securing $2.3 million in venture funding, Zhu’s journey with Aviato is nothing short of remarkable. As Aviato emerges from stealth mode and continues to grow, it is poised to make a significant impact in the venture capital and private equity landscape. Stay tuned for more updates on Aviato’s journey as it aims to become the leading platform for private market data analytics.
By embracing a unique vision and leveraging the support of experienced professionals and investors, Eric Zhu is well on his way to transforming the private market data industry. Aviato’s innovative approach and commitment to providing structured, actionable insights make it a promising player in the competitive world of data analytics.