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Iron Yard payments startup bootstraps its way to profitability

By July 22, 2015 February 18th, 2020 No Comments

MoonClerk’s rising tide

Many a startup has bemoaned a lack of investment, but Greenville startup MoonClerk says taking fundraising out of the equation – and refusing $20,000 in seed capital right out of the gate – ultimately helped them survive.

“If you’re a CEO, until you’ve gotten the money, fundraising is generally a full-time job,” said MoonClerk cofounder and CEO Dodd Caldwell, who, with cofounder and CTO Ryan Wood, was a part of The Iron Yard accelerator’s first cohort three years ago. Much of the accelerator’s benefit stems from mentorship, access to beneficial networks and good publicity, but the hallmark of any such program is seed funding.

Yet MoonClerk was one of two companies that turned down the $20,000 offer, Caldwell said. “When you get funding, you hear about software startups where you just kind of wait until you run out of money. We bootstrapped, so we were forced to make it profitable.”

 

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