AI-driven platform maximizing R&D tax credits effortlessly.
Boast initially monetized by providing consulting services and doing the work manually for a fee. They also considered moving towards a recurring revenue model to create a more scalable business.
“recurring success revenue kind of thing and being profitable or near profitable and this growth equity funding money off the table event?”
“For us, it was easy that we get paid when they get paid anyway.”
“So what was really interesting was we had a very unique path to bootstrapping Boast. We started Boast as a services business. ... So we had to Wizard of Oz this. We called customers, sold them on the vision, and then delivered the service manually.”
“we worked on a number of projects during that time, right? R and D consulting was one and I'll dive into it.”
“we raised a credit facility of a hundred million to lend companies money so they don't wait a long time and we said hey use both get your money now for every month you spend in R&D will figure out what you qualify for and you will give you the money now so you don't wait to get it.”
“And then we get paid when the companies get the money from the government.”
“we have one partner that'd be white labeled for in the U S that came through the community and that's 3 million in revenue with us.”