VenturePact was founded by Randy Rayess and Pratham Mittal to help accelerate businesses, connecting them with development firms that best suit their needs. Today, the VenturePact marketplace works with over a hundred great firms, but boosts a humble beginning. Randy & Pratham share their advice on building a business, overcoming hurdles, and building a global company.
About The Founders
I grew up in Florida, California and the middle east. I spent most of my time playing sports – mainly basketball, tennis and soccer. Unfortunately, I injured my right shoulder four times and had to train my left hand. I also enjoy traveling, dancing and acting. I got involved in tech startups early and realized the power of technology and the steep learning curve start-ups face.
Growing up, I went to an all boys boarding school in India and upon graduation, came to the United States for college. I used to be a national swimmer in India but have given up the pastime after being defeated by US champs. I participated in a hackathon in my junior year, built something that attracted real users and have been obsessed with tech and product development ever since.
How did you meet?
We met at the University of Pennsylvania and took a few Systems Engineering and Wharton classes together. A few months after one of our group projects, we both had downloaded an app called Contactually that crawls your inbox and lists your dormant connections. We connected within the app and grabbed coffee. We ended up speaking for hours about software, technology and startups and then started VenturePact.
Why was VenturePact created?
VenturePact was created to bring transparency to an otherwise closed outsourcing market. It is difficult for businesses to ascertain how good (or bad) a contractor is, what kind of work they have done in the past, and whether their prices are comparative to the market. We created VenturePact to solve this problem by providing transparent and verified data and removing inefficiencies. Overtime, VenturePact hopes to become a platform of “trust” for B2B commerce.
What has been your proudest moment?
It is hard to pick just one but our favorite moments happen when we receive positive feedback from our clients. It thrills us to know that we are helping them save time, money and removing roadblocks to furthering their software development goals.
What has been the hardest part about growing a business?
The hardest part about growing our business has been getting great people on-board. Searching for people who are as passionate as you about your business can pose a challenge, but when you find someone, they often become your biggest strength.
What is the best advice you have received?
“You cannot make everyone happy. Accept that.”
What advice would you give to other entrepreneurs?
Start early. Don’t think too much. Build quickly. Listen to your users and iterate. Expect roadblocks.