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The SimplyCast Story, Part 4: Raising Capital Early On
Raising capital can be challenging for a young company. Investors are not yet sure what will come of the company, and may be hesitant to invest at first.
In September 2009, SimplyCast raised its first $758,000. The team raised this capital on a local basis from family, friends and other local angels in the community. Without the support of our community, it would have been very difficult. The community's belief in us helped to keep the SimplyCast team's spirits high through this busy (and sometimes exhausting) time.
Our employees worked hard to raise capital, and to develop our Customer Flow Communication platform at the same time. In order to get out the very first release of the SimplyCast application, the team worked up to 18 hours for a few days. Afterwards, everyone went home to sleep it off.
So, what advice would the SimplyCast team offer to new companies just starting out and trying to raise capital?
- You need a very strong team. If your team is not passionate and dedicated, you won't have much success. Everyone must believe in the end goal.
- You must seek out investors who have faith in your team and the potential of what they can do, because you won't have the impressive technology built right away.
The local community believed in SimplyCast and helped us get started, which is why we are passionate about contributing to our community. We are dedicated to keeping jobs in the community and helping out with local initiatives. SimplyCast offers paid internships to high school students in our Next Star Employee program, to help develop talented local youth and show that great success is possible in a small community.
Our company continues to grow and our team is always working hard to optimize our customer flow communication platform. Want to try out our marketing automation tools for yourself? Sign up for a free SimplyCast account.
Read more of the SimplyCast Story here.