I'd say that it sounds like a bunch of A-list investors just co-signed and approved your business plan. That'd be a clear signal to me to keep pushing and turn the heat up! It's just validation; that other company isn't eating your lunch yet. Unless you let them!

To put it another way: If you had zero well-funded competitors, you might have to second-guess moving forward. This is the opposite; this is a great thing. You just have to focus on becoming the Google to their Lycos.