If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Sunny has built a very interesting healthcare IT company, overcoming serious challenges. Inspiring story of a bootstrapped success. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background? Sunny Singh:
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Sramana Mitra: You said you started the company while you were still running the other one in 2001. Alon Aginsky: I finished all my responsibilities in the call accounting company in 2001. After the bubble burst, I started the cVidya journey. That was a different startup. We bootstrapped it in the beginning. We completed our institutional
Sramana Mitra: I imagine, given what you’re doing right now, you’re already substantially profitable. Josh Levy: We run a profitable business. We try to invest every dollar back whether it’s additional hires, marketing, or content licensing. We still see so much opportunities in data and where the broader space can go. Sramana Mitra: That’s actually an interesting
Sramana Mitra: Other than the $400,000 that you got from the first investor, did you raise more money subsequently? Alon Aginsky: No. Sramana Mitra: You basically customer-financed the company, right? Alon Aginsky: Yes, it was completely bootstrapped. Sramana Mitra: So you finished college and then went to work for this company full-time. Alon Aginsky: Yes.
Sramana Mitra: Besides the $600,000 and the $200,000 that you raised, did you raise more money? Josh Levy: We did. We did a Series B with another high net worth extended friends and family group for around $1.3 million in 2012. Sramana Mitra: So you’ve raised over $2 million to build the business. Josh Levy:
Alon Aginsky: Hotels made a lot of money from 800 number calls and calls made locally from the rooms. That was the second most important income for hotels, hospitals, and universities. I wondered if there’s something that I can do in New York. I grabbed a few of those cards with me and took a plane to
Sramana Mitra: You started finding these use cases and segments as you launched in 2010. What did you learn about the business model and the pricing model? How did those decisions evolve and how did that turn into revenue? Josh Levy: It’s a good question. Subscription models have been around forever, but they’ve also gotten