.png?width=2708&height=560&name=2022%20Render%20Capital%20Red-04%20(4).png "2022 Render Capital Red Logo")
Apr 20, 2022
We are excited to be underway with the third annual Render Competition. A startup competition where we award 8 startups with a $100,000 investment to grow and scale their solution within and beyond the Greater Louisville region. With the Render Competition, we are aiming to make venture-style funding more accessible to early-stage startups. We work to support the high-potential startups that need that initial seed money to build out and start scaling their solutions.
As we approach the halfway mark of the 2022 Render Competition application period we checked in with our 2021 competition winners to hear about their experience winning the competition.
Symba
Symba empowers real estate agents into the future with the only platform in the industry that combines customer relationship management with financial automations and embedded banking. By giving agents more financial transparency and matching their unique, on-the-go lifestyles, we help them grow their business more effectively from anywhere.
Why did you apply?
We decided to apply at the last minute. Thank God. At the time of the application we were not raising a round but we applied anyway and shortly after applying, we decided to begin fundraising because we had gotten great feedback from users. Render ended up being some of the first money into Symba and after that we went on to raise the rest of our round thanks to the awareness the competition brought us.
How did $100k help?
All the money we have raised including Render’s $100k has gone to developing our product and hiring talent to build the foundation of our team and culture.
Why Louisville?
I love how connected all the entrepreneurs are. There is a tight ecosystem because it is a rather small ecosystem and we all face struggles other parts of the country do not. That bonds us and forces us to all seek advice and mentorship from each other.
Diningtek
DiningTek is a Marketing and Sales Platform for the Food and Dining Industry. DiningTek delivers automated marketing, unique customer branding and online sales to the restaurant and food merchants, in order to improve their profit margins, customer retention and brand elevation; all under one platform (AI-powered).
Why did you apply?
We were aware that Render Capital supports underrepresented startups that have a high growth potential who need seed money to expand and scale their business solutions (like DiningTek). We already had customers in Illinois and Wisconsin, so we felt expansion into the Greater Louisville Area would be a natural fit because we were already in the Midwest.
How did $100k help?
$100k investment has helped standardization and optimization of our platform to scale across several states.
Why Louisville?
They are natural collaborators, and effectively assist startups with scaling their business. They have introduced us to several investors as well as scaleup groups like Endeavor.
Moolathon
Moolathon is a social fundraising platform built around fitness tracking. It gives groups, organizations, and individuals the ability to raise money for a cause with the miles you walk, run, or bike! With Moolathon, friends and family can sponsor the miles you log for motivation to reach your personal fitness goals… or raise money for the groups, teams and organizations you care about with virtual fitness fundraisers. Use Moolathon to help you reach your personal fitness goals through sponsorships from your friends and family… or raise money for the groups, teams and organizations you care about with virtual fitness fundraisers
Why did you apply?
Becoming part of the Render portfolio was an opportunity we couldn’t pass on. We’ve seen Render grow into a pillar of our startup ecosystem, and we are now experiencing firsthand what founders of other Render portfolio companies have told us all along… they go out of their way to open doors of opportunity and help us grow our business through their network. We knew the Render Competition was an opportunity worth competing for!
How did $100k help?
We’ve grown our team, as well as developed our product quite a bit since receiving the Render Investment. Not only have we been able to hire a sales team to help us spread the word and get more schools and nonprofits on the platform, but we’ve advanced to a second version of our product that includes some highly-requested features from our customers. In addition to the $100k, Render themselves have made connections and given guidance that has immeasurable value in itself!
Why Louisville?
Hands down it’s the accessibility to the individuals in this ecosystem that act as pillars and their willingness to help! If you think of someone who can help you push your business to the next level, they are usually only 1 or 2 contacts and quick intros away. Our local ecosystem builders are really accessible, and they can typically point you in the right direction with just an intro call or two.
Legal Gantt
Legal Gantt simplifies and improves communication between attorney and client through automation. We remove the redundant tasks that come with client onboarding, status updates, and emails with our automated client appreciation platform! Legal Gantt contributes to client retention, financial growth, information security, and equitable access.
Why did you apply?
We decided to apply to the Render Competition because we found that the team behind the organization saw a major need in providing capital to the under-represented founders in the community.
How did $100k help?
The $100K investment has provided us with confidence and strength to grow our team to revolutionize the legal industry. We have been able to hire additional talent to meet the needs of our industry and continue improving our solution.
Why Louisville?
Our favorite part about the Louisville startup ecosystem is the continued push for diversity and education from programs like the Render Competition, the Vogt Awards, KY Science and Technology Corporation, and Amplify. These organizations and programs have provided us with the strength, knowledge, and capability to make our dream a reality.
Xena Intelligence
Xena Intelligence is an AI-powered e-commerce growth platform that uses data intelligence to automate and optimize seller accounts on Amazon & Walmart.com. Xena Intelligence customers range from small businesses, early-stage brands, startups all the way to a Fortune 20 brand across all product categories including consumables, baby products, safety kits, health drinks, and women’s hygiene products amongst others.
Why did you apply?
While we applied for Render Competition, Xena was in a unique position where it had market fit, early revenue, paying customers, solid product road map and growth strategy in place. We decided to apply to the Render Competition to enable Xena to launch into another level of validation which would act as a tremendous morale boost to our team. As an early stage startup, validation at this level is priceless.
How did $100k help?
The $100k went a long way in enabling us to achieve our growth goals. Our product development started accelerating, we were able to onboard more members into our team and we were able to explore opportunities like sponsorships and attending conferences which we might not have been able to do early on. We were also able to invest in sophisticated machine learning software to help boost our growth.
Why Louisville?
Our decision to move to Louisville has been taken after much consideration and deliberation. We spoke with many stakeholders within the community and outside. Suffice to say that this decision has been the best I have ever taken – for the startup as well as on a personal level.
My favorite part of the community has been the people. Everyone has been exceedingly kind and supportive to us, even though we were quite new to the community. We were accepted with open arms and enthusiastic minds. The support from the Louisville startup community has been far more valuable than anything we have received so far.
I realized that Louisville has a charm which I have not experienced anywhere else, and I have lived in many cities across the globe. As entrepreneurs, there are hundreds of things not in our control, but the very few that we do have, makes all the difference in the world. Louisville has been that one factor for me.
Repaytient
Repaytient offers hospitals and patients modern billing and collections solutions, including interest-free payment plans, that replace the archaic, paper-based processes that lead to increased administrative costs for hospitals and leave patients on the hook for bills they cannot afford to pay. Repaytient’s tools allow patients to pay their rising healthcare expenses in a budget-friendly manner and allow them to get access to the care they need when they need it without having to make sacrifices to their care due to cost.
Why did you apply?
When we applied, we had just completed the XlerateHealth Accelerator program and were looking for capital and partners to continue to build our patient billing and payments tools. I knew of Render and had heard great things about the fund and the team and decided Render was a perfect fit for where the business was at the time and would be a great partner in helping us continue to scale and build Repaytient.
How did $100k help?
We have been able to use the funds to further build out our technology and add a Head of Growth to the team to scale up our business development and sales and marketing initiatives. Without being selected a winner of the Render competition, we may not have been selected to participate in the Village Capital FinHealth2021 program. We completed that great program in March 2022. The Render competition was a real catalyst and launch pad for much of the success we have seen over that last 15 months.
Why Louisville?
My favorite part of the Louisville startup ecosystem is the selfless support that so many founders and organizations provide. There is no one in Louisville that will not answer the call for help or support from a founder when asked. I think that is unique and should be cherished and nurtured so that is always stays that way.
Lullafeed
Lullafeed develops innovative therapeutic solutions to health challenges. Our first product, LullaFeed™, is a music-based baby bottle system that helps infants in the early months with feedings. The system provides the infant with a reward (music) when they engage with the bottle, encouraging them to feed appropriately and efficiently. Feeding problems affect up to 60% of infants at some point in their development and whether they last a couple days or a couple months, parents and therapists are looking for answers on the best way to address them. We are excited to be developing LullaFeed™ to meet this need!
Why did you apply?
We decided to apply for the Render Competition as we are in a critical phase of growth that not only requires capital, but also expert mentorship. The connectivity and support Render provides was very attractive to us as we try to avoid as many missteps as possible.
How did $100k help?
This investment has allowed us to confidently move forward with some critical R&D necessary before we make further plans for GTM. It also brought visibility to the exciting developments we’ve made and attracted several other new investors, for which we are extremely grateful!
Why Louisville?
The kindness and support of fellow founders! This ecosystem has a strong and rich helping culture and I’ve yet to meet a founder who isn’t willing to offer their insight, feedback, or connections. Running a startup can be lonely at times, but knowing we have this incredible ecosystem ready and willing to help brings much security to the process!
Veeper
Everyone on the internet has experienced lost/unused loyalty points and expired vouchers. Veeper auto-applies the smallest discount/incentive necessary to get each customer to buy more. Each time a shopper adds an item to the cart, they’ll see their discount increase. We’ve increased their partnered stores’ average order value by net 14%.
With Veeper, merchants will no longer have to think about, calculate or even create promo codes ever again.
Why did you apply?
We met with Marigrace Ragsdale, Senior Associate at Render, during a Midwest Connect conference where they discussed Render Capital’s $100k competition. We applied to the competition a couple months later and waited with anticipation to hear news of making it through to the second round. Veeper was perfectly positioned for the competition as we had tested and validated our hypothesis with our successful MVP and was seeking capital (among other benefits) to enable us to complete development on our Beta Shopify app. Marigrace had sold the team at Veeper on how supportive and collaborative the entrepreneurial ecosystem is in Louisville and how much Render and the City of Louisville plans to help it grow into the future.
How did $100k help?
The $100k allowed us to complete development on our Beta Shopify app, recruit a full-time CTO and 7 developers, a new website and positioned us to raise additional capital knowing that we had already been funded and supported by a strong firm.
Why Louisville?
My favourite part about Louisville is how supportive and willing other founders and those involved in the entrepreneurial ecosystem are to help you and make introductions. The Render team, Larry Horn and Jordan Clemons have all helped us with making important decisions for the company, getting meetings with angel investors and connecting us with local support benefits and communities. We can’t thank Render enough for all that they have done for Veeper and will continue to do for us along this journey.
