Baton, the leading marketplace for small and medium-sized business acquisitions, announced a $10 million Series A funding round led by Obvious Ventures, with participation from Burst Capital, FJ Labs, Fluent Ventures, and Spencer Rascoff’s 75 & Sunny. Previous investors Divergent Capital, Bloomberg Beta, and Zeno Ventures also joined the round, bringing Baton’s total funding to $15.5 million. The capital will accelerate the expansion of Baton’s marketplace, designed to simplify and streamline business transitions for small business owners.
With this latest funding round, Baton is poised to further transform the small business acquisition market, bridging the gap between retiring owners and aspiring entrepreneurs with technology-driven solutions.
With millions of baby boomer business owners preparing to retire over the next decade, an estimated $10 trillion in wealth will be transferred—often referred to as the “Silver Tsunami.” Meanwhile, younger entrepreneurs are increasingly drawn to small business ownership, driven by changing work culture and technological advancements. Baton addresses these trends with a platform offering higher close rates and lower costs compared to traditional options, with 70% of its business listings closing successfully—10 times the industry standard.
Baton provides a free valuation for sellers, analyzing financials, market trends, and benchmarks. Owners can start with a free private listing to gauge buyer interest and upgrade to paid plans for premium support, including reconciled financials, a data room, and expert guidance through negotiations and closing. For buyers, Baton offers high-quality listings and partnerships with lenders, accountants, and legal experts to streamline the transaction process.
CEO and Co-Founder Chat Joglekar emphasized Baton’s mission: “Our team is dedicated to making business ownership attainable while supporting small business owners every step of the way. We’re building a platform that combines data, technology, and expertise to simplify what can otherwise be a daunting process.”
James Joaquin, Co-founder of Obvious Ventures, highlighted the platform’s impact: “Small businesses are the backbone of the U.S. economy. Baton’s innovative approach makes business ownership more accessible and drives success for both sellers and buyers.”
Baton’s success is reflected in testimonials like that of Gus Reckel, founder of L’imprimerie, a French bakery in New York City. “Baton helped me pass my dream business into the right hands with confidence and ease. Their dedication made the process seamless and gave me peace of mind as I transition into retirement.”