Sramana Mitra: The money that you had in the convertible note and your own money, that was financing 2010 then? Ray Grainger: It got us through 2010. It actually got us almost through 2011 as well. Sramana Mitra: In 2011, you generated revenue? Ray Grainger: Yes. We got up to a million dollars in 2011. Sramana
Sramana Mitra: What did you do in terms of going and trying to recruit the next set of projects? Did you then go out to find projects that are in line with those people’s expertise? Ray Grainger: We decided to take a different path. The thousand people told us, “We really like your concept. It’s
Sramana Mitra: Who were these thousand participants and how did you get them on the platform? Ray Grainger: We started with our own network of people we knew. We come from a service provider industry so we have a lot of people in our network who are service providers in one capacity or another. Between the
Sramana Mitra: Let’s start with the step-by-step journey of how you put all the pieces together to make this happen. When you quit InQuira, what was the first thing that you did? Who left with you? Who were the co-founders? Ray Grainger: The co-founders were colleagues who I had met at InQuira. One is named
Sramana Mitra: You joined InQuira as CEO? Ray Grainger: No, as Executive Vice President. They had already been around for five years. I was an investor and joined them as Executive Vice President. I was in charge of all professional services channels and helped them grow from $6 million to about $40 million. Sramana Mitra: By
Sramana Mitra: You went to college in Southern California? Ray Grainger: I did. I went to Harvey Mudd. Sramana Mitra: What did you do after that? Ray Grainger: Based on that realization in college that I would pursue a career of applying technology to business, I went to Accenture directly out of college and ended
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Ray had started Mavenlink with a certain vision, but had to pivot to find market traction. The pivot was handled skilfully. The original vision remains, and Ray hopes to be able to launch it in the next couple of years. Very good, deliberate execution. Sramana Mitra: