Cary-based entrepreneur with previous exit of $350m (Samanage) gets $21m for new startup
CARY- Based on Cary viably raised $21 million in a seed round, CEO Doron Gordon told WRAL TechWire in an exclusive interview.
Gordon is best known for his role as founder and CEO of cloud-IT startup Samanage. Gordon led Samanage to move its headquarters from Israel to Cary, North Carolina in 2014; Samanage was then acquired by SolarWinds for $350 million in 2019.
While Gordon called it a “difficult time” to raise capital, he also said he was “super grateful and thrilled” to welcome back two investors who had backed Samanage: Viola Ventures and Salesforce Ventures.
“But it was also really important for us to bring in the local experts,” Gordon said.
Local investors in this round included Jason Parker of Bull City Venture Partners and Scot Wingo of the Triangle Tweener Fund. Viably is one of 14 companies in which the Triangle Tweener Fund has invested during the second quarter of 2022.
“I’ve always wanted to work with people like Jason and Scot, for so long, even since the early days of Samanage,” Gordon said. “So we’re fortunate to have both Bull City Ventures and the Tweener Fund supporting us, and we’re certainly looking to leverage their experience and ideas.”
London-based Angular Ventures also participated in the round, according to Viably’s Press release.
Viably offers a (free) finance app for small businesses
Gordon said Viably hopes to solve two major challenges: helping financial institutions understand small businesses and educating small businesses about their finances.
“At Semanage, we spent so much time working with different banks and really trying to help them understand the way we saw the business and the data we were looking at when we ran the business, and there was a disconnect,” Gordon says.
Viably allows small business owners and entrepreneurs to create a free account and import their financial information – their business bank account, Quickbooks account, etc.
“All you have to do is enter and connect your data set, this will give us visibility into how you manage your finances,” Gordon said. “And by analyzing your finances, we can provide you with insights, we can provide opportunities for you to reduce your costs, your expenses, we can provide opportunities for you to collect your income faster, which is a unique skill.”
Gordon hopes that by giving small business owners a better picture of their finances, Viably can educate small business owners and entrepreneurs about their credit history.
“The data is going to give us the insights that we can share and use to educate them on how lenders would actually see them,” Gordon said.
Viably launches $2,500 grants for small businesses
Viably is also launching the Viably Visible Grant program, Gordon said, which will award a $2,500 grant package to one North Carolina-based Viably small business per month.
“You must be a local business, incorporated in North Carolina, you must be in business for six months, and you must go through the Viably application process,” Gordon said.
Each month, Viably will randomly select one client who has gone through their application process to receive the $2,500 grant package.
“So we’re looking forward to spreading the word and inviting local businesses to come and apply and participate in the program,” Gordon said.
Gordon ‘fell in love’ with Cary
Viably recently opened its headquarters in downtown Cary. Gordon first moved to Cary when he moved Samanage to the Triangle in 2014. He said he had “fallen in love” with the people and the quality of life.
“We fell in love that everyone valued work-life balance, even before COVID,” Gordon said, adding, “that’s probably why my wife doesn’t want to go anywhere else.”
Gordon also noted the “loyalty” in the region, and he mentioned that several members of his team from Samange joined him at Viably.
For more information about Viably, visit www.runviably.com
Bazinga start! Triangle ‘Tweeners’ Breaks Fundraising Record; the new list increases to 251 emerging stars