Fresh out of Y Combinator, Tandem lands millions from Andreessen Horowitz

Tandem, one of the most sought-after companies to graduate from Y Combinator's summer batch, will emerge from the accelerator program with a supersized seed round and an uncharacteristically high valuation. The months-old business, which is developing communication software for remote teams after pivoting from crypto, is raising a $7.5 million seed financing at a valuation north of $30 million, sources tell TechCrunch. Y Combinator startups raise capital using SAFE agreements, or simple agreements for future equity, which allow investors to buy shares in a future priced round at a previously agreed-upon valuation.