Manick Bhan: Just a few years after that, you had these rumblings of the next big tech boom. When Facebook went public, it was an incredible experience to see a company that had grown up quietly and become so huge and valuable. At the same time, that same roommate who infected me with the finance bug ended
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. “My journey was as unexceptional as you can imagine,” says Manick, in describing how he got to $1 million Annual Revenue Rate in transactions before raising financing. Read on for the whole story. Sramana Mitra: Let’s start by going back to your very beginnings. I want
Sramana Mitra: What were the financing rounds? You raised your first financing within 18 months when you were getting real traction so you did bootstrap the first phase. Jason Cohen: Right. In August of 2011, we raised our first little A round. Then a year later in the same month, we did a B round.
Sramana Mitra: Where are we timeline-wise now? Jason Cohen: We’re still in the mid-2000s. Just accelerating through that, I sold Smart Bear in 2007. I left in 2009. I had to stick around for a year. Sramana Mitra: To whom did you sell this company to? Jason Cohen: There was another company called Automated QA.
Sramana Mitra: Being the author of a book gives you huge credibility. Jason Cohen: Even now when everyone knows you can publish, it does. We were doing enterprise sales where credibility is even more important. I remember being with a potential customer in San Diego. Our champion inside the company threw one of our books
Sramana Mitra: Let’s go down the path of your content marketing. You said you published a book. Tell us more about what was the marketing strategy around your code review product? Jason Cohen: I have to give credit where credit is due. In ITWatchDogs, Gerry had this idea because it had just become possible to
Sramana Mitra: Did you go to work for them? Jason Cohen: I did for just a little while, but at that time, I had already started another company with Gerry’s encouragement. In fact, when we started ITWatchDogs, I was hesitant to join a startup because I thought, “Maybe I should just increase my savings a little
Sramana Mitra: It is very difficult to get any kind of financing for new companies from these community banks. I’m curious about how you managed to get that. Was Gerry offering a personal guarantee of some sort to get that money out? Jason Cohen: Yes. He also had a history with the bank. Of course, you’ll