As if you needed any more reasons to register for Thursday’s GrepBeat Happy Hour (5-7 p.m. at Bull McCabe’s in downtown Durham), consider: 1) your first drink will be courtesy of our generous sponsor, Hutchison law firm, which also recently turned 25; 2) you can eat a homemade chocolate chip cookie made by Pete on a first-come, first-served basis. We especially encourage new-ish members of the Triangle tech community who moved here during the pandemic to attend. In fact, if you say you’ve moved here since last March, you can have a second cookie! Register here.
Here’s the latest The Friday Nooner, which includes a long and (in my totally unbiased opinion) very useful discussion on good business and entrepreneurship books amongst Joe, Pete and guest Chris Geiss, the CEO of Seguno.
Personal aside: when I was a startup co-founder, I used to say that the best thing about running a startup is that you get to make all the decisions, while the worst thing is that you have to make all the decisions. But Robbie, Adam and Kelly say it better than I can. Read some show highlights here and listen (and subscribe!) to the episode here. Thanks as always to the show’s sponsor, Robinson Bradshaw.
One proven path for software startups that we maybe talk about less than we should is a successful services-slash-consulting company developing a software product to help its customers and then deciding at some point, hey, maybe we could sell this product as a standalone business. Today marks the latest example of this trend with the official announcement that Cycle Labs is spinning out of Raleigh-based Tryon Solutions as a SaaS startup. Tryon Solutions was founded in 2014 by Josh Owen and Adam Downing to help companies manage their supply chain issues, primarily on the Blue Yonder platform. But along the way the team developed a software product called Cycle, an automated testing platform.
Now Cycle Labs is going to stand on its own with Josh (and his impressive mustache) as its CEO, with plans to expand to customer cases well beyond managing the supply chain. Read our full story here, and you can also check out the startup’s press release.
I’m going to pin this on my poor job digging out from Memorial Day Weekend, but we haven’t yet noted (or feted) Fantasy Life and CEO Yasin Abbak for its acquisition by Betsperts, a sports betting social platform, on May 26. We wrote about Yasin and Fantasy Life, a platform that provides breaking news and insight to fantasy sports enthusiasts and sports bettors—which are definitely overlapping universes—last July. That wasn’t all that long after Yasin moved himself and Fantasy Life to Raleigh from New York City.
While Yasin won’t (can't?) reveal the purchase price, he did tell GrepBeat that “we were ALL very happy” and that it’s a “1 + 1 = 5 scenario,” which by our fuzzy math is 125% better than 2 + 2 = 5, so congrats. Yasin is already on to hatching a new startup—a B2B software platform that will be called The Convoy—but he’s not quite ready yet to say more than that publicly. Though if you see him at the GrepBeat Happy Hour, ply him with drinks and cookies and see what you can find out.
Weather Or Not
To me, “Climavision” sounds like an ill-fated technology from the ‘60s in which you’d be sprinkled with water at a movie theater if, for example, the screen was showing Niagara Falls or Singing In The Rain. But a Louisville-HQ’d startup with an engineering hub in Raleigh emerging from stealth mode has $100M to say that I’m way off.
Instead, Climavision is a weather-intelligence startup that will use its proprietary radar technology to, it says, provide more accurate weather forecasts. CEO Chris Goodetells TBJ that its Raleigh R&D operation will start with 4-5 people and grow from there. Hopefully the forecasts will be more useful than my iPhone telling me that every one of the next eight days has a 40% chance of rain.
We wrote a month or two ago about how the publicly traded healthtech company Phreesia had stealthily moved its official HQ from NYC to Raleigh, though that doesn’t seem to have meant the actual movement of many bodies. Nevertheless: much like many waistlines, Phreesia experienced a growth surge during the pandemic. Given that the company’s primary product is an automated patient intake platform for healthcare providers, that makes sense. TBJ has more details.
While this event will be virtual, TechWire ran a story yesterday that dives into when NC TECH, RIoT, the First Flight Venture Center and other local tech orgs might be returning to in-person events. Of course, if you have an itch for in-person mingling, scratch it this Thursday at the GrepBeat Happy Hour!
As part of the Town of Chapel Hill’s partnership with TechWire, the latter ran a feature on AdaptBionic, which we featured in January. Co-Founders and UNC alums Greg Bantista and Chas Feuss are using 3D printing to make prosthetics to help deal with limb loss, especially among athletes.
Do you like podcasts? Specifically, do you like podcasts that relate to the Triangle startup scene? Then we have a few things to say: 1) Check out Item No. 1 above re: For Starters. 2) Hutchison’s Trevor Schmidt, who will be this week’s guest on The Friday Nooner, has a podcast called Founder Shares. 3) Raleigh Founded has partnered with Earfluence—the Raleigh-based startup studio that produces Founder Shares, as well as the First Check podcast from Cofounders Capital’s Tim McLoughlin and others—to convert one of Raleigh Founded’s suites into a podcast studio. Raleigh Founded members can use the studio for free once they take some training.
Dualboot Partners is a software development firm that helps ventures at all stages build great software and great companies. Founded by serial entrepreneurs, Dualboot Partners comes to each project with deep expertise in technology and business, as well as a commitment to supporting its clients well beyond the development process. The team offers advice and perspective—built over the course of hundreds of projects—and leverages its vast network to connect clients with investors, future hires and other resources critical in turning a concept into a successful venture. Intrigued? Email them here!
Her Spark, a Triangle-based nonprofit dedicated to equipping girls with STEM skills and opportunities, is hosting a virtual Summer Summit for high school girls from July 12-16. Participants will explore coding, engineering and other STEM topics while connecting with professionals from Red Hat, Cisco and more. You can find more details and apply online here. The application deadline is next Friday, June 18.