#55: Bootstrapped to $10M ARR with community-led growth and services – Lloyed Lobo

Lloyed Lobo is the co-founder and former president of Boast.ai, a leading platform to help software companies in the US and Canada to redeem available government tax credits. Initially started in 2012 as a services business helping companies administer tax credits, Boast.ai was launched as a technology-powered platform that scaled their business much faster.  Technology-powered Boast.ai was launched in 2017 after starting a services business in 2012 that helped larger company administer their R&D tax credits. Boast.ai bootstrapped their growth to $10 million ARR before taking an investment from Radian Capital that also allowed Lloyed and his cofounder to cash out some of their equity for life-changing cash payouts. Their growth was fueled by the active startup community they built called Traction.  Lloyed faced many challenges as an immigrant, startup adventurer, frugal entrepreneur, and hyperactive community builder. He also struggled after the investment when he finally had monetary wealth and experienced depression. With the support of his family and therapy, he moved forward to prioritize his health and family and limit his startup addiction.  Learn more at practicalfounders.com.