Sramana Mitra: What revenue level are you operating at now? Brian Robertson: Our revenue is over $20 million and growing at a range of 25% to 40% with our current platform. We are at the point of raising now and growing equity. I wanted to skip the traditional VC phase. I never saw a term
Sramana Mitra: How much of your old customer base from MedeFinance came into Visiquate? Brian Robertson: Not too many. Mede is still a friend of mine and I’m a shareholder, so we were in a situation that just sometimes happens. Sometimes you have certain relationships that follow you wherever you go. I only needed a
Sramana Mitra: Let’s go back to 2009. Did you have clients from your previous business that you sold this concept to be able to sign on as your validation partners? How many were they? Brian Robertson: Yes, we had three or four cornerstone clients.
Sramana Mitra: Until $80 million, it was a bootstrapped company and then Bain capital infused $15 million. Is that what you are saying? Brian Robertson: Yes, it was mostly bootstrapped. There were friends, family, and angels in the early rounds.
Sramana Mitra: Talk a little more about the evolution of MedeFinance in its software format. You were starting with the $4 million to $5 million revenue base and some of those clients transferred on to the software business. What was the business model? What was the average deal size? What kind of business did it
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Brian is a serial bootstrapper. In fact, he bootstraps using services. Terrific entrepreneur to learn from. Sramana Mitra: Let’s go to the very beginning of your journey. Where are you from? Where were you born and raised? What kind of background did you have?
Sramana Mitra: What happened in 2019? How much did you do? Jake Weaver: That was the $5 million year. That was the breakout from where we had been before. For anybody that talks about valuations, a professional services firm is not valued as a product company. Even though revenue was staying the same, the value
Sramana Mitra: Just so you know, we have a whole methodology in our program around Bootstrapping Using Services. It’s something that we do a lot of in the program. It’s something we have numerous case studies on. We have encountered what you’re talking about several times before. It works. I think you will go on