Founder: Akhil Pendalwar, 25
Business: Proodos
What it does: Project management software
Founded: 2019
No. employees: Seven
Website: proodos.work
Twitter: @proodosapp
LinkedIn: linkedin.com/company/proodosapp
Instagram: @proodos.work
Akhil Pendalwar helped found Proodos, a project management software, in 2019. Pendalwar and his brother and co-founder, Josh, were both seeing gaps in talent management, skills and collaboration in their respective fields (Akhil was in software development and Josh was an actuary). They wanted software that focused less on tasks and more on people.
So, together, they coded Proodos from the ground up. Pendalwar and his brother moved to the Triad from Atlanta to grow their business because they found the entrepreneurial ecosystem here to be supportive.
Proodos allows clients to stay on budget and on time through its patent-pending tools that can spot risks in a project. For example, managers can view a 3-D map to see where the riskiest tasks are. From there, Proodos provides a toolset to tackle the issue and potentially substitute in another person for the task.
Proodos’ system also runs in real-time and produces analytics for project managers. By comparing people’s schedules, workstyles and other assignments, Proodos can even forecast when a project or task might take longer than expected.
Pendalwar currently serves as the company’s chief technology officer. From launching the initial product in 2019, Proodos has expanded to 10 clients, ranging from businesses in finance to engineering to logistics and supply chain.
Proodos' basic tier costs $15 per user per month, while its premium tier costs $25 per user per month. The company negotiates pricing for enterprises based on volume. Pendalwar declined to disclose company revenues, but said Proodos has started to see early revenue from its initial clients and pilots.
In January 2022, Proodos will launch six-to-12-month pilots for enterprises and small-to-midsize businesses. The company will test out features such as reporting modules, more advanced security and data integration from other software. Pendalwar also plans to raise more capital and grow his team. He hopes that with a successful pilot run next year, Proodos will see more revenue and fit well into the enterprise arena.
Recently, Proodos received an undisclosed investment from First Launch Capital Fund of Greensboro. Proodos was also a part of Winston Starts, and Pendalwar heavily credits the mentors he has met there and elsewhere in the Triad’s entrepreneurial scene with helping to further the company.
Pendalwar and his brother also developed a social media app called Firefeed, where users can ask questions to their friends in a Twitter-like feed format.
How or where do you like to connect with like-minded innovators?
Due to the pandemic, I try to attend a few pitch, speaker and lunch ’n learn events online each month. I’ve met dozens of amazing entrepreneurs and mentors this way and continue to have relationships with them today.
How would you rate the entrepreneurial ecosystem in the Triad?
The startup ecosystem in the Triad is phenomenal. Community leaders here understand the value of supporting startups, and you will oftentimes see them working alongside founders to make their vision come to fruition. It’s very important to have an active community like this, because it gives startups in other cities the comfort confidence, and support needed to move their business here.
What’s one that it could be better?
I believe it would be beneficial to develop a formal partnership or program between the ecosystem partners and local enterprises to support a startup’s endeavors. Enterprises have decades of experience, resources and can provide valuable feedback for entrepreneurs building a product. There are already successful programs like this in Atlanta and New York and I think this is the next step in establishing a strong and attractive ecosystem.
How likely is it you will stay in and grow your business in the Triad?
We love the Triad and can see ourselves growing our business here for three reasons: It’s capital efficient, we are centrally located from important business centers in the U.S., and we get to be at the forefront of technological advancement in the Southeast. Aside from the business element, both the beach and mountains are a few hours away in either direction, and that is a huge plus on the weekends!
