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Ideas to Invoices

Oct 27, 2017

In this episode of Ideas to Invoices, Will Mitchell, co-founder of Contract Simply, discusses how his startup pivoted from a consumer marketplace called Renovate Simply to a business to business enterprise software company for the construction and banking industry.

The co-founders of Contract Simply spent last summer in Mountain View, California in the Y-Combinator program. Mitchell and his co-founder, Andrew Latimer, moved to California, rented an apartment and furniture and spent three months in the accelerator program.

The company initially got rejected when applying to the Y-Combinator program as Renovate Simply. So they re-examined their business and decided to focus directly on the construction contracting market. With the new concept, they got into the program.

Y-Combinator invests $120,000 in the startups for a seven percent equity stake.

The program was worth it, Mitchell said.