DealMachine’s CEO David Lecko didn’t intend to turn his software into a startup. He just wanted to solve a problem.
David was getting started in real estate investing in Indianapolis when he missed out on a deal because he didn’t follow up with the homeowner.
The pain of missed opportunity sparked an idea that changed his life. He created a basic app on his phone that included a map so he could pin houses, do research, and send out postcards to follow up.
Lecko’s real estate colleagues quickly realized how useful the app is, so Lecko and his Missouri-based co-founder Dave Oster beefed up the functionality and put it up on the app store.
The SaaS company took off like a rocket, reporting revenue growth of 8,385% between 2017 and 2020. During the same three-year period, DealMachine added 38 employees in the Midwest.
Scoring a spot on the list. Last week, DealMachine was ranked #36 on Inc.’s list of America’s 5000 fastest-growing companies in the U.S. It is also the fastest-growing company in Indiana and Missouri.
DealMachine is a self-funded company so far, and they’re looking to accelerate their growth with an upcoming SBA loan. They are expecting to double their team in the next few months (hint: They’re hiring remote software developers and more!)
Self-financed, self-assured. When we asked him about the benefits of bootstrapping, David said:
“Instead of focusing on fundraising or convincing an investor that our idea was good, we were able to run with the ideas and opportunities we saw, and act faster. We’ve also been able to provide more stability for ourselves and the team, knowing that we aren’t operating unprofitably. We had been operating profitably and hired somebody as soon as we could afford to have them.”
Congrats to David Lecko and the entire DealMachine team for representing the Midwest as #36 on the Inc. 5000 list this year!
CATEGORY: Community, Company News, Entrepreneurship