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Investment Update: AROUND THE HORN


 

Dear Boardroom Subscriber,

As a parent of three kids, there’s nothing like a slice of silence. Add a multitude of dogs into the mix and it’s a high priced commodity in my world. 

 

But there are things in my life, I want to be loud. I want to hear chatter non-stop. It’s from my investments. Give me all the news, all the numbers, all the updates. That’s one of the allures with investing in public companies, they are required to keep up updated with quarterly reports at the very least. 

 

Awaiting updates from a private investment can be a challenge. Sometimes I won’t hear from a company for six to twelve months. Those down times can be difficult. That’s why I’m happy to bring you quick updates from not one,but two Boardroom names.

 

Getting All Squared Up

First up is MC Squares, a company that has turned the traditional whiteboard business on its head with its eco-friendly reusable dry-erase products. These include mcSquares Stickies, mcSquares Surfaces, mcSquares Tablets, and mcSquares Tiles.

 

According to the company, they ended the year strong with sales of $2.6 million, an increase of 410% year-over-year. They were able to build on the $700,000 they raised from 1500 investors. Management projects revenue of $7.5 million for 2021. The company is in the process of raising another $4 million to continue its global expansion.

 

Follow me ThisWay

ThisWay Global, an AI Software-as-a-Service that matches people to jobs without bias, continues to grow quickly. 

The company signed a channel partnership contract to onboard 3400+ paying customers between March 1, 2021 and July 1, 2021. By the end of the year, they anticipate having over 5000 paying customers.

All of this adds up to projected recurring revenue of $6 million in 2021, which should grow to around $21 million by the end of 2022. 

The company proudly converted one of the top 10 defense industry companies from pilot to customer, expanding ThisWay’s product into all five of the customer’s international divisions.

 

I’ve Got a Feeling

It’s great to get a feel for progress in Boardroom names. Over the years, as I’ve watched private companies navigate business, I see many coming back to the proverbial fundraising table. This is completely normal for young companies; however, I rarely double-dip. 

In other words, I generally don’t buy into up rounds, rounds raised at a higher valuation and after the round I’ve invested in has closed. The reason comes down to diversification. 

I want to spread my risk. Now, I might consider a second investment if my first one was much smaller than other investments I have, but I prefer to spread my risk as wide as possible. It’s a personal choice, but one that helps me sleep well at night.