Want to see Bend’s fledgling startup ecosystem working? Keep reading. We resume our #50startups project with SteadyBudget, a budgeting tool for PPC analysts, started by former G5 staffer Jon Davis. That’s alum from one startup starting another. Like they do.
SteadyBudget just closed its seed round of funding and is focused on growing its customer base. They’re not disclosing the exact amount, though Davis says it’s less than $1,000,000. We recently sat down with Davis to learn more about his company and future plans.
Founded: Oct. 2014
Co-Founder and CEO: Jon Davis
Team: Chris Vlessis, CTO; David Teofilovic, senior developer; Dominic Albano, chief design officer; Dominique Catabay, chief community officer; Tyler Juhola, chief growth officer.
How do you describe SteadyBudget? It’s a software platform for digital marketing analysts that allows them to manage their monthly PPC budgets. With SteadyBudget you can start or pause campaigns across all your networks, so you can make changes in our app that affect Google, Bing and Facebook, etc. It will also alert you when you get close to overspending and has a setting to turn off campaigns automatically for customers.
Where did you get the idea? I’ve been working in tech for nearly 10 years, and I spent four years as an analyst at G5. When I was there I had a different PPC budget for each market, and I was managing them all. I started thinking about how I could make it easier. I came up with the plan for a product resembling steady budget, and eventually left G5 in 2013 to pursue it full time.
Who was on your team? At first it was just me, and then Chris Vlessis, my co-founder who was an intern at G5 at the time. Now he’s our CTO. He was only a senior in high school, but you could see that he’s brilliant. He came up to me at one point when we were still at G5 and asked me for a project he could take on vacation. I gave him four coding problems I’d been working on (struggling with for months) and he had them solved 15 minutes later. He taught himself full-stack development, and then studied computer science at OSU.
How did the first year go? We spent six months creating our first product, but it completely failed in terms of customers. It was trying to do too much, and there were all these dead areas that weren’t being used by our beta clients. However, we realized everyone was still using the budget tool. So we hyperfocused on that and launched our current product last fall.
Who are your customers? We’re targeting digital marketing companies, so organizations that are managing at times thousands of PPC campaigns for their customers.
What’s the response been so far? We have more than 30 companies using the platform, including G5. We have a free tier that allows users with less than 10 budgets to try our product within minutes of discovering it. That really sets us apart from some our competitors, who typically insist that you talk to a sales rep before you ever even see the product.
Where did your investment come from? We raised it from two Oregon based angel investors, Bruce Rhine and Drew Smith. They were both early investors in Jama Software.
What will you use the funds for? It helped us hire two developers and two sales and marketing positions. So we’re simultaneously building out SteadyBudget 2.0, which includes an improved UI and offers users more data that customers can pull in. We’re also finding more customers.
You can reach Kelly by email at [email protected].