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How cord grew to £3M ARR without raising investment

Ben Henley-Smith, CEO

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founder

About cord

The messaging tool for finding work
Founded in 2016
cord.co

In 2016, Ben and his co-founder realised that the biggest problem when looking for work was speaking to the right person.

That's why they decided to build cord, a messaging tool to speak to people hiring inside companies like Starling Bank and Depop. By bootstrapping and focusing all their efforts on their users, Ben's team have grown the business to revenues of £3m+ ARR.

5 years into launch and the founders haven't given away any equity to investors. Instead, they are generous with their employee equity and call on Uncapped's revenue-based financing whenever they need capital to help them scale.

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I am able to make decisions with more clarity because I know I’ll be able to raise money at the drop of a hat if I need it. I feel very grateful to be building a company at a time when a product like Uncapped exists.”

Ben Henley-Smith, CEO

Challenge

Scale cord without taking investment

Ben and the cord team had reached an important milestone. After bootstrapping to build their product, cord started to gain significant traction.

Suddenly there were a lot of different things that needed to be done at once, and Ben needed to make a number of hires to support cord’s fast growth.

However, Ben didn’t have time to raise a full round, and he didn’t want to give away equity for revenue he knew he would soon make back from his customers.



Solution

Uncapped advance for building the cord team

Ben first called on Uncapped for a £39k advance to hire for new positions in engineering, sales, and customer success. Since then, Ben has taken an additional £150k to keep scaling his company.

Knowing he can access capital quickly, Ben is able to make bolder decisions about the future of his business, and doesn’t have to worry about spending time raising money from investors - or giving away equity.


cord

in numbers

2x

Headcount

Hiring

Use of Funds

£3m

ARR

$189k

Amount

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