300k funding for 8 developers is less than a year of runway at $40,000 per year and with no expenses (or income). That's not very much and they're probably a disproportionate amount on SEO/marketing rather than product which is why you heard about them after a little basic research.

The difference is perhaps in their commitment to execution, i.e. it's a company with working code for some definition of "working" as opposed to sitting on the fence worrying about competition. Therein lies the critical question, "Does it matter that there's competition?"

Good luck.