// startup autopsy

Carmine

A UK SaaS spark that faded before it could ignite.

marketfitAcqui-hire

Fatal mistake: Carmine could not convert its initial seed funding into demonstrable product-market fit within the compressed timeline typical of early UK SaaS funding cycles.

Founded	2011
Closed	2013
Country	UK
Sector	Saas

50%

Key Events Timeline

2011-01-01

FOUNDING

Carmine founded in the UK as an early-stage SaaS startup.

2011-09-01

FUNDING

Carmine closes a seed funding round to build and launch its SaaS product.

2012-06-01

PRODUCT LAUNCH

Carmine launches its SaaS product but struggles to gain meaningful customer traction in its target market.

2013-06-01

SHUTDOWN

Carmine is acquired in a quiet exit, ending its independent operations after roughly two years without achieving sustainable growth.

Full Analysis

Analyst plan

Documented cause

Carmine was a UK SaaS startup founded in 2011 that raised seed funding the same year but failed to achieve sustainable commercial traction. The company struggled to scale its product to generate meaningful recu...

rring revenue, a critical benchmark for SaaS businesses. Rather than continuing as an independent entity, Carmine was acquired within approximately two years of its founding—likely structured as a tal

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Peak valuation

HypeCycle · MoatType · ResearchTags

Carmine collapsed from carmine could not convert its initial seed funding into demonstrable product-market fit within the compressed timeline typical of early uk saas funding cycles.. Documented cause, verified lesson, all failure signals.

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