Pendo co-founder's new startup raises $3M seed round
Boduch wasn't leaving the Triangle's startup scene entirely, however. Instead he's started multiple companies in recent months, including one that is now gaining traction with investors and customers.
- Durham's IDEA Fund Partners and several other investors also joined in.
Details: Revcast makes a software platform that aims to help companies create more accurate revenue plans, set more efficient budgets and respond to real-time changes to business risks.
- A lot of companies, Boduch said, struggle to remain agile when forecasting their businesses and that leads them to dole out resources inefficiently.
- Revcast would attempt to show a fuller picture of how a company's revenue is growing or is slowing.
What they're saying: "You have to be able to adjust your plans whether it be hiring or new revenue expectations as quickly as possible," Boduch said. "And we think a software system allows people to more rapidly adjust to new risks and new opportunities" instead of waiting for a quarterly business review.
Zoom out: Revcast is the first company to emerge from Boduch's 24 and Up, a startup studio that has a goal of guiding two to three companies per year through the early stages of turning an idea into reality.
The big picture: It's among the first signs that Pendo's success is creating promising offshoots in the Triangle's entrepreneurial ecosystem — much like other successful startups, including Red Hat, have done in the past.
- "There's a lot of great people that have worked [or still work] at Pendo," Boduch said."It's a fertile bed, I think, for new companies and talent for new companies."
What's next: Revcast currently has eight employees and offices in the Raleigh Founded coworking hub where Pendo was founded last decade.
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