Technology is bringing abundance to the world. But, only a handful of people start the iconic companies with the biggest impact. Floodgate backs these Prime Movers before the rest of the world believes.
Taking risk with these legendary founders at the very beginning of their journeys is core to our DNA and how we add unique value as an investment partner.
When Intuit acquired Demandforce for $424 Million, the writers at Recode observed “to say that Demandforce had been flying under the radar had been putting it mildly.” But this was a deliberate strategy by CEO Rick Berry. While their competitors focused on fundraising and getting attention in the tech press, Demandforce focused on its customers and ignored the startup echo chamber. As long as they kept crushing their numbers, why let the world in on its secrets and invite competitors?
These founders personify an important idea for startups: Attention is only valuable to a company if it contributes to the mission of the company. Otherwise, PR and the spotlight can cause more harm and distraction than good.