Errund receives State of Wisconsin QNBV Certification for its seed round

Errund, Inc has received Qualified New Business Venture (QNBV) certification from the Wisconsin Economic Development Corporation (WEDC).

QNBV certification program allows investors in qualified early-stage companies to receive a 25% state tax credit on the amount they invest in the business. The program, one of several WEDC initiatives aimed at helping early-stage companies secure new investment and accelerates their potential for job creation in Wisconsin.

Investors in Errund can receive up to $125,000 in state tax credits through March 2018 as the company is in the process of closing its seed round, allowing the company to raise as much as $500,000 for its seed round under the program. Errund previously raised $75,000 of pre-seed funding.

“We are really excited to receive QNBV. We were just about to move to Chicago earlier this year and gener8tor kept us in Wisconsin for 3 months. Now, WEDC is keeping us here for another 3 years” said founder Jacob Ong, who worked a year at Epic Systems as a Technical Project Manager prior to launching Errund in early 2016.

Earlier this year, Errund was one of five companies chosen from 691 startups to qualify for gener8tor, a top startup accelerator program headquartered in Wisconsin.

Ong is also contemplating moving Errund’s headquarter from Madison to Milwaukee, Wisconsin to be closer to the Chicago market in which the company currently provides service.

About Errund:
 
Errund connects customers to cleaning and other service professionals for homes and offices. Despite its uber-like business model, Errund bookings are backed by its 100% Satisfaction Guarantee and Property Protection Insurance.

Errund currently focuses on cleaning services and has plans to quickly expand to other home and office services, as well as to other cities beyond the 10 Midwestern cities in which its customers can book next-day cleanings instantly.

 

Errund Presents at Chicago Startup Conference

Errund presented on April 26 at Technori, a startup showcase that featured 6 companies, including the CEO of Avant, a company which raised more than $650 million. Held at the Chase Auditorium in downtown Chicago, the 2-hour conference drew more than 300 attendees.

Since 2010, more than 275 companies have been featured at Technori and they have gone on to raise more than $260 million in venture capital.

Here’s a video of Errund’s pitch:

 

 

 

Errund joins top startup accelerator

We just received our term sheet from gener8tor! gener8tor is ranked as one of the few gold-tier startup accelerators in the US by the Seed Accelerator Ranking.

For each class, gener8tor only accepts 5 companies out of hundreds that apply to their program. They run only 2 classes a year. For the Spring 2017 cohort, Errund is one of 5 companies chosen from 691 companies. That’s a 0.7% acceptance rate.

We are proud to announce that we will be joining one of the top startup accelerator programs in the US from February 15, 2017 to May 11, 2017. We will be in Madison, WI. Here’re 3 reasons why we are joining:

1. Growth

Errund has been bootstrapped for a year. We have used the time to our operations more robust. But we are at a stage where we are ready for more accelerated growth.

gener8tor will invest up to $140,000 in us. This will allow us to develop more features for our customers and increase our growth rate.

2. gener8tor’s concierge approach

A very hands-on approach to mentoring their portfolio companies is the main reason why gener8tor is a top startup accelerator in the country. One huge reason they can do that is that they only have 5 companies to work with for each class.

We have heard of horror stories of how various accelerators bring little value to the table to justify the 6-7% of equity that they take from their startups. This is so because those accelerators often accept close to a hundred startups per class, hoping to hit a few startups that will eventually become unicorns.

3. Midwest focus

Our focus is on the Midwest market and gener8tor is based in the same region. Joining them will therefore allow us to capitalize on their regional connections and expertise.

Geographical focus is one of the key yet often overlooked strategies to gain high market penetration, market share and customer loyalty. By catering to the needs of their geographical audience, smaller companies can edge out their global competitors. Case in point: Didi causing Uber billions of losses in China and eventually Uber’s exit.