Pendo co-founder Eric Boduch loves startups – so much so that he’s sinking his energy into a concept he's calling a “startup venture studio," one he hopes could create the next unicorn, or even the next Pendo.
Boduch’s new venture is called 24 and Up and it is based in Raleigh.
It’s why he left Pendo last year.
“I love Pendo,” he said. “I love the people. I love what we were doing … but you get to a certain point and you’re like, if I don’t do it now, when am I going to do it?”
So, with the blessing of Pendo CEO Todd Olson, Boduch took the plunge, officially leaving the Raleigh software company he helped found in 2013 to build a startup studio. It’s an idea he’s envisioned since before Pendo began.
“I’ve always loved the idea of venture studios,” he said.
A founder comes in and has instant support, a team around them that can support the idea and help start a company. The founder “gets access to me and people like me, access to engineers, designers, product marketing … we try to make the process smooth," Boduch said.
It’s a collaboration – similar to how Pendo began. Boduch recalls how he, alongside Olson and co-founder Rahul Jain, juggled multiple ideas before hitting on the concept that would become Pendo.
“The process is really co-creation,” he said.
It’s early. Right now, he’s looking for a few good co-founders as he works to raise money. The skills are the most important thing – not the idea. He’s looking for people with domain experience to offer, say they’re interested in starting a company in the RevOps space, but don’t have a solid idea. That’s part of the co-creation concept.
“I’m looking for people who want to create companies,” he said.
Eventually, Boduch hopes to start two to four companies a year. The plan is to one day raise $25 million for the studio and start hiring engineers. If all goes well, Boduch hopes to be at a team of a dozen in the next 12 months.
The studio would have equity in the new company, both as a founder and an investor. Boduch said he can’t wait to get started – so much so that he’s already incubating ideas as he seeks out founders.
