Applications for our 18% Program are being accepted until April 15th.
Keep Your Cash
Investors will say your idea is worth about two pennies until you have something to show for it. You're expected to spend your own cash to get things off the ground but building great software usually costs hundreds of thousands of dollars. This causes many great startups to never even start. We let you tap into your company's future equity potential and pay for software development with a mix of equity and cash, sometimes as low as 18% cash / 82% equity.
Switch to Cash
Every startup's path to revenue is different. Some might make money in three months, some might take two years. With Series Code, you decide when and how much cash to use. The cash percentage is simply the minimum. You can choose to pay more cash, which means you keep more equity. There is no reason to lock your startup into a four-year stock vesting schedule when six months of equity will do.
Our 18% program, made possible by the Series Code Portfolio program, allows your startup to pay its software development invoices using only 18% cash. The remaining 82% of the invoice is applied towards your equity balance and will convert to equity at your Series Seed or Series A financing round. This program is highly competitive and space is limited. Because Series Code Portfolio is making a substantial investment in your startup, we carefully vet applicants and accept only a select few during pre-scheduled application windows.
There is no waiting for startups that apply under the 50/50 program. We can get started immediately with only a short due diligence checklist. In this program, your startup pays its invoices with a minimum of 50% cash.
And yes, we build great software! We've built software for global, Fortune 500 companies and small startups alike. We build scalable cloud applications that grow as your business grows. When we start your project, you'll meet your program manager who acts as your single point of contact and plays the roles of project manager, technical architect, and lead developer. Your program manager takes complete ownership of your satisfaction and will ensure the job gets done right.
Looking for more details? Here are the nitty gritties. If you don't find the answer you are looking for, please email us.
We think of ourselves as your technical cofounder. Our program managers have decades of experience in software development and bring that experience to the table for you. We see ourselves not only as coders but as partners to help guide you through this process and make the best decisions possible. Whether we're working with technical or non-technical founders, we're going to do what it takes to make your startup a success.
Merriam-Webster defines grassroots as "the very foundation or source." Grassroots activities typically take a no-nonsense approach to getting the job done efficiently and effectively without much pomp and circumstance.
Series Code is with you before your Series A or Series Seed financing rounds. We're with you at the very beginning of your venture to help build the foundation of your new organization. We take a no-nonsense approach to maximize your startup dollars. We don't waste money on expensive conference rooms or lavish parties. Our goal is to keep our costs low so that we can pass those savings on to startups that need to be highly effective in their deployment of resources. We're with you from the grassroots.
Stock options are great for individual contributors. You can know in advance how many hours they will work every week. With Series Code, we can ramp your team size up or down depending on the startup's need. There is a reason that Eric Ries, author of The Lean Startup, calls startups an "environment of extreme uncertainty." You cannot know how much software development you will need in four months from now and what you are building might radically change and require new skillsets. Instead of trying to guess and then renegotiating stock options when things inevitably change, our program allows you to ramp up or down as needed and the equity arrangement will follow suit.
Series Code Portfolio is our way of giving back and investing in the startup community. Too many times we see great ideas that never launch because the software is too expensive to build. Or worse, we see entrepreneurs invest fifty or a hundred thousand dollars into sub-par software development because that is all they could afford. The Portfolio is our way of bringing world-class software development to a few entrepreneurs whose great ideas might otherwise be lost. Funding from the Portfolio allows these entrepreneurs to reduce their cash outlay to only 18% of invoice.
The current application window is open from March 15, 2019, through April 15, 2019.
If your startup is accepted into our standard 50/50 program, there is a $10,000 deposit due on acceptance. If your startup is accepted into our 18% program, there is a $5,000 deposit due on acceptance. This deposit will be applied to your first invoice. To avoid delay, we accept credit card and direct ACH payment for the deposit.
At your Series Seed or Series A financing round, we will determine the outstanding unpaid balance from your invoices. Using the price per share assigned to the round, our equity will be determined by dividing our outstanding balance by the price per share after any agreed upon discount is applied to the price per share (typically 20%).
Every startup is different and the amount of software development needed cannot be determined with a cookie-cutter plan. Even if we could determine a precise percentage for your anticipated plans, there is a reason that Eric Ries, author of The Lean Startup, calls startups an "environment of extreme uncertainty." Everything changes and you simply cannot know how much software development you will need in four months from now. Instead of forcing your startup into a 5% cookie-cutter plan, the Series Code model adapts to your needs. This model is fair. You pay for what you use whether that is 5% or 1%.
Upon acceptance, your startup will be assigned a Program Architect who will work with you to define a Lean Canvas, a one-page business plan that guides the creation of your software. The Program Architect will then decide on a technology stack (programming languages, cloud infrastructure, end-user devices), define a technology architecture, and begin selecting team members (either internally or through hiring as needed). The Program Architect will also select a Program Manager who will be your single point of contact and acts as the project manager and lead developer. Team members typically include UI/UX designers, front-end developers, back-end developers, and mobile developers.
Ready to get started?
Send us an email to start your application today.