How TechGenies Scaled Global Sales Without Equity Dilution
TechGenies used non-dilutive, revenue-based financing from Efficient Capital Labs to hire key sales and marketing leaders, accelerate growth, expand globally and maintain full ownership without traditional debt or equity dilution.
Highlights
ECL’s revenue-based financing enabled TechGenies to hire a Head of Sales and a Head of Marketing Strategy, pivotal to their growth.
Alternative financing allowed TechGenies to expand globally without equity dilution.
TechGenies was able to avoid traditional high-interest debt options, and selected ECL for its transparent and partnership-centric approach.
Learn how succeeded with ECL financing
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About the company
TechGenies is a global leader in software development and cybersecurity, providing innovative IT solutions through a Build, Operate, Transfer (BOT) model and staff augmentation. Headquartered in the USA with a presence in 10+ countries, including tech hubs in South & Southeast Asia, Europe, and Latin America, TechGenies employs over 200 skilled professionals.
Their approach emphasizes cost efficiency, often delivering services at 25%-50% less than US-based teams, while maintaining high-quality standards.
Founded in 2015, TechGenies has quickly become a powerhouse in software development, IT consultancy, and cybersecurity solutions. Their model coupled with robust cybersecurity products and services offers clients a significant strategic advantage, swiftly launching them into global marketplaces.
Founded: 2015
Headquarters: USA
Team Size: 100-130
The Challenge
As 2023 approached, TechGenies was poised for ambitious growth, necessitating the need to strengthen their growth team with experienced leaders. Thriving as a bootstrapped company and 100% ownership, TechGenies sought external funding to propel their next growth phase without relinquishing equity.
Long venture capital cycles:
In the challenging economic landscape of 2023, venture capital funding dwindled, and alternative funding solutions emerged as a lifeline for many founders. CEO Al-Amine, recognizing the prolonging venture cycles, sought a near-term funding option that didn't involve prohibitive costs or loss of equity.
High-cost bridge financing
Al-Amine found the bridge financing landscape to be filled with high-interest options, often ranging between 25-30%, which Al-Amine found excessive.
Investing inKey Leaders:
Hiring key GTM leaders, including a Head of Sales and a Head of Marketing Strategy, was essential for growth but required significant upfront investment.
ECL Solution
TechGenies was introduced to revenue-based funding options, and referred to Efficient Capital Labs (ECL) by a peer. This marked a turning point. ECL's approach, characterized by reasonable rates, transparency, and a partnership-centric philosophy, aligned well with TechGenies’ team's values. This led to a mutual understanding of ECL as more than a financier, but a long-term growth partner. ECL's agility and flexibility contrasted favorably against conventional equity methods, allowing TechGenies to pivot from expensive debts to strategic growth investments.
Transparent and Flexible Financing: ECL offered competitive rates and a transparent process, aligning with TechGenies’ values.
Strategic Talent Acquisition: Financing was deployed to onboard transformative leaders, enhancing TechGenies’ growth trajectory.
Cost-Effective Global Expansion: Revenue-based financing allowed TechGenies to scale their global presence while maintaining financial control.
ECL Impact
With ECL’s financing, TechGenies achieved significant milestones, laying the foundation for sustained growth.
Key Hires
TechGenies successfully onboarded a Head of Sales and a Head of Marketing Strategy, driving business development and marketing strategy. This helped them to further expand and strengthen their global operations in their 10+ country locations.
Retained Full Equity Ownership
As a bootstrapped company, TechGenies maintained 100% equity ownership while fueling growth initiatives.
The Invitation
Founders who drive the future, deserve capital that accelerates with them. Let’s make this the most efficient chapter of your story.