- In May 2013, Mehdi Samadi, who would later co-found Solvvy, called us without an introduction, He explained, quite simply, that he was a fellow Persian from Carnegie Mellon University, and that he, together with his fellow PhD student, Justin Betteridge, were developing technology from the research they had done during their PhD studies.
- Mehdi and Justin had identified what they saw as a pressing challenge: the lack of effective ways to find specific answers from large amounts of unstructured data. Mehdi and Justin flew from Pittsburgh to Palo Alto to meet Pejman at Coupa Cafe. After a short conversation, we noticed something magical in these two co-founders, and so we made an immediate decision to back them them with a pre-seed check while connecting them with other strategic angels.
- By April 2014 they had both moved out to California to work together full-time, calling our hackerspace their new home. Mar joined their Board to provide additional operational support (strategy, product, recruiting). CMU also joined us as angel investors.
- Mehdi and Justin’s first product didn’t succeed, but they were determined to keep pushing. We had no doubt they would develop something amazing, and supported them with a bridge round that enabled them to pivot from a consumer product into a SaaS product. They worked closely with our operating partners while building their initial product design, as well as their communications and branding strategy.
- We helped them to recruit their third co-founder, CEO Mahesh Ram, whose operating experience in SaaS and strong leadership has led them to the right product market fit. Along the way, Mehdi was also named by Forbes as one of the “30 to watch under 30” in Enterprise Technology for 2015.
- In November 2015, after working closely with them to create their investor deck, they received seven term sheets within 9 days for their seed round, many of which came through introductions we had facilitated.
- They chose True Ventures to lead their seed.
- They’ve also released their first SaaS solution, which provides a delightful self-service solutions for any business, to the market, with strong initial traction and metrics.
- After two years of working side by side in the Pear Hackerspace, they have moved into their own space. Nevertheless, Solvvy remains an active part of our community, sharing their experiences with other entrepreneurs and participating regularly in our community events.