Idea management software is designed to help businesses and teams collaborate and track their ideas. The act of managing ideas can heavily influence the outcome of teams and projects, which can mean the difference between success and failure for a company.
You'll need to ensure that you have a solid foundation of coding and prototyping to build this kind of software. On top of that, you'll want to have good sales and marketing skills to sell this software to companies and executives.
Here are some real life success stories of starting a idea management software:
1. Idea Drop ($2.4M/year)
Charlie de Rusett (from London, UK) started Idea Drop over 9 years ago.
Hello, my name is Charlie de Rusett and I’m the CEO and Founder of Idea Drop. We are a software-as-a-service (SAAS) that helps businesses identify, refine and execute their most innovative ideas. Our company was founded on the premise that the best ideas already exist, they just need to be discovered!
Companies across multiple global industries have seen success with Idea Drop. Examples range from multinational enterprises such as Ericsson and MTV to public sector organizations such as the NHS and Kent Police Force. We have an established track record of delivering long-term value for our clients. For instance, Covea Insurance found that an idea implemented as a result of Idea Drop would save them £2.5m over the next 5 years.
2. IdeaScale ($9M/year)
Rob Hoehn (from San Francisco, California, USA) started IdeaScale over 14 years ago.
Hey there! I’m Rob Hoehn and I’m the Co-Founder of a B2B Software as a Service (SaaS) company called IdeaScale. It’s crowdsourcing software that companies and government organizations use to gather, prioritize, and transform ideas from the crowd. What do they turn them into? Those ideas become products, public policies, marketing campaigns, workplace improvements, and other fun stuff.
Learn more about starting an idea management software:
Where to start?
4. Viima ($1.8M/year)
Jesse Nieminen (from Espoo, Finland) started Viima almost 10 years ago.
I’m Jesse Nieminen, the Co-founder and Chief Growth Officer for Viima. Viima is the most widely used and highest-rated innovation management software in the world. Innovation management software helps organizations systematically collect, develop, and manage ideas all the way through to innovations.
Our customers are medium and large organizations across every industry, but the one thing they have in common is that they are looking to make more innovation happen. We have more than 13 000 organizations from all around the world using our platform, which we’re super excited about and proud of, especially since we’re a bootstrapped company based in a small home market (Finland). We’re currently growing our recurring revenue at a rate of around 70% year-over-year, while also being highly profitable.
5. COR ($1.24M/year)
Santi Bibiloni (from San Francisco, California, EE. UU.) started COR over 7 years ago.
Hi, my name is Santi Bibiloni and I founded COR in 2016 with Jose Gettas and Gabriel Marin.
After almost 5 years in the market, our current MRR is $103k and just closed our Series A round having raised $6M.
6. illumisoft ($792K/year)
Dan Prince (from Downtown Kansas City, Missouri, USA) started illumisoft over 6 years ago.
My name is Dan Prince, and I am the founder of illumisoft, a software development company specializing in cloud migration, web applications, business solutions, and data management.
Regarding illumisoft, as a leading software development company, we are always evolving to best serve the healthcare industry. In 2020, the initial year of the pandemic, our annual revenue was $842k, and in 2021 our annual revenue was $785k. As for 2022, we are trending upwards and look forward to having one of our best performance years yet.
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Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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