Equity Financing from Customers: Modernizing Medicine CEO Daniel Cane, Boca Raton, Florida (Part 7)

Sramana: Where are you located? Daniel Cane: We are in Boca Raton, Florida. Sramana: That is a region that does not have as much of an angel or a VC community. That makes your company’s story even more interesting.

Equity Financing from Customers: Modernizing Medicine CEO Daniel Cane, Boca Raton, Florida (Part 6)

Sramana: This is one of the few stories I have heard where this type of fundraising has taken place. It is wonderful, and it makes perfect sense. You have converted customers into very serious evangelists. Daniel Cane: Exactly. The company has done well financially, so I think everyone is happy with the outcome. Raising money

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Equity Financing from Customers: Modernizing Medicine CEO Daniel Cane, Boca Raton, Florida (Part 5)

Sramana: When you started Modernizing Medical, you focused on dermatology specialists. How many specializations do you sell to today? Daniel Cane: We have also launched products in ophthalmology and optometry. This quarter we are launching into plastic surgery and orthopedics. We also have derivative products. For example, the plastic surgery product has a cosmetic derivative

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Equity Financing from Customers: Modernizing Medicine CEO Daniel Cane, Boca Raton, Florida (Part 4)

Sramana: Let’s talk about your current company, Modernizing Medicine. What were the circumstances of the founding of Modern medicine? What was the genesis? Daniel Cane: Modernizing Medicine is one of those companies where two people met under the right circumstances; in this case a serial tech entrepreneur meets a visionary doctor. Both of us were

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Equity Financing from Customers: Modernizing Medicine CEO Daniel Cane, Boca Raton, Florida (Part 3)

Sramana: In our incubation program, we teach people to get customer validation as soon as possible. It must be done before you even think about investors. Daniel Cane: It is wonderful that you have formalized that concept into a methodology that can be taught. You can only achieve scale through formalized process. When I talk

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Equity Financing from Customers: Modernizing Medicine CEO Daniel Cane, Boca Raton, Florida (Part 2)

Sramana: Let’s touch on a few highlights of the Blackboard story. You started building pages for professors, and then other universities started contacting you. Did you finish college or did you drop out to do this? Daniel Cane: I didn’t drop out; I finished by the skin of my teeth! I graduated from Cornell with

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Equity Financing from Customers: Modernizing Medicine CEO Daniel Cane, Boca Raton, Florida (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.  Daniel is president and CEO of south Florida–based Modernizing Medicine, Inc., a healthcare company that aims to change the way medical information is created, consumed, and used to increase efficiency, lower costs, and improve outcomes. Daniel has a BS from Cornell University where, as an undergraduate,

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Bootstrapping to Exit in Israel: Eli Sasson, Founder of Minicom (Part 7)

Sramana: How long did it take for people to start engaging you once you had decided to sell the company? Eli Sasson: It is hard to say because we did not start the process at a particular date and time. We gradually moved into the decision and gradually made it known. I would say that

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