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Today we announced the fact that we raised our first $2 million of investor money. TechCrunch and VentureBeat both covered the announcement this afternoon and evening.
I wanted to share some thoughts on why this is an important event (apart from the obvious fact that now we have the wherewithal to make Outright a significant platform and business.)
First, as Robin Wauters states in his TechCrunch post, this is a serious vote of confidence in the space. For those who may not know, our investors (Shasta Ventures, First Round Capital, SoftTech VC) are top notch. They are extremely smart, have been very successful, and are all high-integrity people. So it says something that folks like these are willing to back a company that aims to make business life simpler for the roughly 21 million self employed people out there.
Second, and more importantly, the funding provides assurance that Outright.com will be around for a long time. We know and understand that people, especially those running a business, want to know that a service they start using isn't going to go out of business. While no one is paying us for the service yet, they are still devoting time and energy to our platform. And we appreciate that. So much so that we went and gave away some of our ownership to make sure that Outright.com will be here for the long haul. And while I can't predict with certainty what the future will bring in terms of growth and revenue, I can tell you, as a small business owner myself, that we will not waste the money we now have in the bank.
And with that, it's time to get back to improving Outright.com!
