I have, for all intents and purposes, three children: my son, Matthew, my daughter, Catherine, and my company, Dyn. While there is no question that I love my son and daughter a few times more than my business, I have spent 11 years of my life watching Dyn grow from a college project to a multimillion dollar operation that employs about 170 people.
And, like life and family, this ride has been a roller coaster of ups and downs. What has made it all the more sweet is that Tom Daly and I built Dyn from our early days at Worcester Polytechnic Institute, relying only on our surrounding talent and the approval of our clients. It is a great point of pride that we’ve been able to bootstrap our company over all of these years.
Being a successful company, sans outside investors, is an enviable position to be in. For years, we felt like the most popular kid in school as we were courted by countless VC suitors. But when you’ve invested your life into something, you are cautious to give pieces of it away. So while we received attractive offers, we politely declined.
We had yet to encounter that partner who understood and valued our culture, mission and attitude. I don’t care much for wealth. It is prosperity that I desire. I am not building an exit strategy. I am creating an economic engine. Plus, we had experienced 70 percent growth year over year. We were doing a pretty good job of growing by ourselves but we want to be a step ahead.
Then we met North Bridge Venture Partners.
The Massachusetts-based growth equity firm shares our desire to disrupt the status quo and create categories. Their investment allows us to maintain who we are: fundamentally a bootstrapped company that values engineering excellence, believes uptime is the bottom line and creates rock solid customer relationships in the infrastructure space. We will speed up, as we double down on, our commitment to revolutionizing Infrastructure as a Service.
With this $38 million minority investment, we will be able to continue doing what we’ve done all along but with greater financial resources to do it. But, as any businessperson knows, capital doesn’t make great companies. People do.
As part of this event, Dyn will create a board of some of the brightest minds in the game today, an invaluable resource to challenge and push us. We also join a portfolio of like-minded companies that affords us the chance to strengthen old relationships and establish new friendships.
With North Bridge, we found the offer we weren’t even looking for, which is why this is the right time for us to accept such an investment. We’re also excited to continue building a great place to work in Manchester, NH, with Borealis Ventures participating in this deal.
I hope you can tell from reading my words that this is not a light decision. But I do feel from the bottom of my heart that this is the best decision for our clients, our employees, New Hampshire and, of course, Dyn.
And, like any parent, I only want what is best for my child.