jEugene (YC S15) Automatically Combs Through Legal Documents And Finds Mistakes

When it comes to legal documents, you can never be too careful -- any small mistake or oversight could result in hefty costs. And at the moment, numerous legal documents involving hundreds of billions of dollars are created each year and subjected to only human review.

jEugene is a startup that launched this month out of our Summer 2015 class that automatically scans legal documents and detects difficult-to-spot errors. Notably, jEugene detects definitional errors, which are among the most common yet hardest to catch drafting mistakes lawyers make.

TechCrunch's Mike Butcher wrote about jEugene in a story published earlier this month:

"For years, software engineers have enjoyed the assistance of quality assurance software when writing computer code. Lawyers, however, are generally stuck with Microsoft Word. Yikes! So automated, intelligent reviewing of legal contracts by software should be the future. That’s where jEugene, a new YC startup as part of this summer’s batch, comes in.

This startup helps the drafters of legal documents catch mistakes that could be fatal to such documents’ validity or enforceability.

The original idea of Harry Zhou, who, as a first-year lawyer, was tasked with proofing a 250-page contract and wanted more than his supervising lawyer’s assurance that 'you did great,' jEugene scans through a legal document and highlights in text potential drafting mistakes in the document."

Read the full story on TechCrunch here.

YC Startup School Radio: Shoptiques CEO Olga Vidisheva On The Challenge Of Hiring Great People

In Episode 5 of YC Startup School Radio, our host Aaron Harris sat down with David Tisch and Alan Tisch, the co-founders of mobile shopping app Spring, and Olga Vidisheva, the founder and CEO of e-commerce platform and YC W12 alum Shoptiques.

You can listen to the full hour-long episode on SoundCloud here or on iTunes here, and read the full transcript on Genius here.

In one interesting portion of Vidisheva's interview, she talked about how unexpectedly challenging she found it as a startup founder to find top-tier talent to hire:

Aaron: What's the thing that surprised you most in building Shoptiques? Is there anything you didn't expect when you started?

Olga: So, I [previously] worked at Goldman Sachs. I loved Goldman, and I think that the beauty of Goldman is that the people are so smart. I didn't realize how hard it is to actually hire smart people. I thought that everybody would be very driven and motivated off the get-go. I think it's because I was coming from Wellesley, going to Harvard, going to Goldman, and going to Y Combinator, where everybody was like, "Let's work hard." And then going around and being around people, you're like, "Oh my God. I guess not everybody's that driven and motivated." So I didn't realize how important and how hard hiring is. But now I learned my lesson, so.

Aaron: So now you only hire the best and the people who are gonna perform.

Olga: I think I always hired the best, but I didn't realize how hard it is to find the best, you know?

Aaron: Right. Yeah, especially as a small company. I mean, hiring as a small company, you're hiring against Google when it comes to engineering and you're hiring against, I don't know, like the largest companies in the world because they're the ones with budgets.

Olga: But to be honest, I also don't want people that maybe worked at Google, because they might just want to build this little thing. I want people who are thinking about the customer, who are thinking about the product all the time.

So finding the people that have the same mentality as you, because those are the people that are making millions of decisions about your product every single second, so you want to find people that think like you and finding that person is so hard.

Nebia (YC S15) Promises The Best Shower You'll Ever Take, While Using 70% Less Water

A good shower can be refreshing and satisfying in a very singular way. Nebia, a startup that launched this month out of our Summer 2015 class, has created a device that promises to deliver that and more: dramatically improving on the traditional shower experience, while also cutting down significantly on water use.

Nebia has created a showerhead that atomizes water into millions of tiny droplets, covering 10 times more surface area than a regular shower. Nebia's patent-pending technology, called H2MICRO, means that more water comes into contact with your body, while at the same time, the device uses far less water than a typical showerhead -- providing a water savings of about 70 percent.

Earlier this month Nebia launched a Kickstarter campaign pre-selling its devices for its first shipment next spring, and has already fielded incredible demand. After only 12 days, more than 7,000 backers have pledged more than $2.5 million to Nebia, far exceeding the company's $100,000 goal.

Read more about Nebia in the New York Times, Wired, Time, Buzzfeed, VentureBeat, TechCrunch, and FastCoDesign.

YC Digest - 8/14-8/20

Top Stories from the YC World - August 14-August 20, 2015

Illustrated Guide to Y Combinator's Demo Day S2015

Nine Years of Demo Days: How YC has changed by Jared Friedman (Scribd, YC S06)

The Post-YC Slump by Sam Altman

YC Alum

A Female Founder at Y Combinator: My Experience by Julia Kurnia of Zidisha (YC W14)

Congratulations To The YC Summer 2015 Class

This week we held Demo Day for our Summer 2015 class at the Computer History Museum in Mountain View, California. It was the 21st Demo Day event in Y Combinator's history, with a total of 102 pitches spread across two days. Below is a list of the 99 companies that presented on the record, in the order in which they pitched onstage.

Congratulations to all of the S15 founders!

Breakout Room
Instant eSports
New Story Charity
Heroic Labs
Shred Video
The Ticket Fairy
Plate Joy

TetraScience (YC S15) Sends Data From Scientific Instruments Directly To The Web

Much of the data from scientific experiments is captured the old fashioned way: Scientists personally check their equipment, and write the pertinent information down by hand -- sometimes on a computer, but often in a notebook. 

TetraScience is a company in our current Summer 2015 class that's shifting that entire process to the cloud, by connecting scientific instruments directly to the web. TetraScience has developed a system that uses both hardware and software that allows researchers to remotely monitor and control their instruments, and automatically logs their data in the cloud.

TechCrunch's Mike Butcher wrote about TetraScience in an article published this past week:
"Here’s how it works. TetraScience Link, the hardware module, is like an Apple TV. A researcher can buy a Link, plug their scientific instrument in to it, and connect to the web via Wifi or Ethernet. Once online, a researcher can log in to their TetraScience account, enter their credentials, and activate their newly purchased Link. This process takes less than 5 minutes. On this dashboard, the researcher can monitor that instrument in real-time and control its behavior. Furthermore, the researcher can also set thresholds for alarms/alerts (e.g. hazardous overheating) and notifications (e.g. e-mail, SMS). Since the instrument is connected to the web, the data produced by the device is automatically stored in the cloud. Like with Facebook, they provide researchers with a timeline of experiments/events that occur with the experiments (e.g. the user and timestamp for starting/stopping an experiment).

They assured me they have several layers of security, so the results can’t be hacked into."

Read the full story on TechCrunch here.

The Ticket Fairy (YC S15) Helps Event Organizers Fill More Seats

Organizers for events such as music festivals operate on a high risk business model, paying upfront costs of potentially millions of dollars that must be recovered from ticket sales. When too many tickets go unsold, these costs aren't recouped, resulting in a painful net loss for the event organizer.

The Ticket Fairy is a startup in our current Summer 2015 class that runs a complete event marketing platform that helps event organizers quickly and efficiently reach more attendees to fill up empty seats. Event organizers on average see an average 25 percent lift in ticket sales when using The Ticket Fairy.

TechCrunch's Josh Constine wrote about the Ticket Fairy in a story published today:

"If you convince all your friends to go to a concert, shouldn’t the promoter give you a discount? Now they can with The Ticket Fairy, a full-stack events marketing and analytics suite coming out of stealth from Y Combinator today.

The Ticket Fairy’s goal is to make sure all its clients’ events sell out. Promoters let The Ticket Fairy sell their tickets, run their analytics, and handle ad buying in exchange for a fee on each ticket sold.

The startup sells 100% of an event’s inventory when it can, but sometimes exclusivity contracts with ticketers like TicketMaster mean it can only sell the 20% that a promoter has the right to distribute on its own. Eventually, though, co-founders Ritesh and Jigar Patel say The Ticket Fairy hopes to earn promoters so much money that they ditch their contracts and sell everything through its platform."

Read the full story in TechCrunch here.

Xendit (YC S15) Is Bringing Peer-To-Peer Mobile Money Transfers To Indonesia

In Indonesia, 25 percent of the population currently has a smartphone, and smartphone penetration is growing by 20 percent year-over-year. But 80 percent of the population remains unbanked. 

Xendit is a startup launching out of our current class that's bringing trusted mobile financial services to a country where banks have yet to prove their relevance to the majority of the population. Built for both Android and iOS, Xendit's app allows users to send or request money with just four taps of the phone.

TechCrunch's Matthew Lynley wrote about Xendit in a story published today:

"The company is billing itself as a more private money-transfer service that’ll beat companies like Venmo to the market in Southeast Asia. Users can transfer money within private groups, as well as chat, but it’s not about making those transactions public, co-founder Moses Lo said. Since starting the beta a few months ago, the company has 13,000 people using the service.

Users load money onto Xendit and they can send and request money from friends in the service or through phone numbers. The company not only has to work with Indonesian banks, but also ATM networks, Lo said.

'In Southeast Asia, it’s the perfect storm,' Lo said. 'One is a huge population with technology, two is nascent financial services, and third is it’s one of the most viral regions. In Indonesia, there’s [greater than 100 percent] penetration for phones. These people don’t have a bank account, penetration credit card is 3 percent, but there’s a huge population with technology.'"

Read the full story on TechCrunch here.

Instawork (YC S15) Is The LinkedIn For Recruiting And Hiring At Small Businesses

Sites such as LinkedIn have captured a big part of the hiring and recruiting market for higher-end white collar jobs. But these platforms have largely missed the majority of Americans who work hourly or part-time positions. Often, small businesses find new candidates through word of mouth, or by hanging a help wanted sign in the window.

Instawork is a company launching out of our current class with an online platform that connects small businesses with qualified job candidates within 24 hours.

Business Insider's Celena Chong wrote about Instawork in a story published today:

"Why can [Instawork co-founders Sumir] Meghani and [Saureen] Shah tout such a rapid turnaround? Ultra-responsive tech is their answer. Everything is automated: matching up schedules, automatically verifying references, and parsing only the most important parts of a resume to send out to recruiters. 

If a family coffee shop owner wished to have more baristas on deck, all they would have to do is go online, fill in the bare basics of the job in a few lines and click 'find me candidates.' The process takes around one minute."

Read the full story on Business Insider here.

Drip Capital (YC S15) Lends Small Businesses The Money They Need To Grow

Historically, small business lending has been dominated by local community banks, who often have a long and tedious process for approving loans with less than favorable terms to the business owner.

Launching this week out of our Summer 2015 class, Drip Capital is building an online solution to offer timely and founder-friendly small business loans nationwide. 

Drip Capital evaluates its loans by looking at the orders that small businesses have yet to fulfill, and providing the money needed to fulfill them. As an example: When one upstart potato chip manufacturer got a big break by landing placement in Whole Foods, Drip provided the capital to help the manufacturer deliver on the order. 

TechCrunch's Kim-Mai Cutler wrote about Drip Capital in a story published this week:
"Drip Capital’s two founders Pushkar Mukewar and Neil Kothari, have experience in both the tech and financial worlds after managing debt portfolios at Capital One, Goldman Sachs and BlackRock. They met at Wharton.

Drip evaluates small businesses based on their live working orders from customers. They’re focused on the 5 million business-to-business focused companies in the United States, and are giving loans that they expect to be repaid in 1 to 4 months.

'Banks have an almost one-size-fits-all product,' said co-founder Neil Kothari. 'But there’s a pretty substantial difference in how banks cater to larger clients versus smaller clients.'"

Read the full story on TechCrunch here.