ScanCafe Garners $5.5M for Expansion and Improvements
We have completed a tremendous amount of work in the last two years building this company from a simple idea into the world’s greatest analog to digital conversion service. We literally started in a garage in Encinitas, California (right by the beach I might add, “Surf’s Up!”) in the summer of 2006 and here we sit with 5,000 sq ft of Class A office space in Burlingame, CA and 22,000 sq ft of Class A office space in Bangalore, India. We have grown from 4 very focused friends to 675 incredibly dedicated professionals.
During this rapid maturity we constantly have listened to our customers. At each stage of growth, we resoundingly heard “Hey, nice job. Now get it done faster. And can you add some services. And while you are at it, can you improve your gallery review process a bit? Oh yeah, what about the 4 dozen VHS tapes of my 1987 mullet? Can you convert those?” So, in order to give the deserving public what it wanted, and to do so timely, I decided that the time had come to leverage the wonderful world of high finance.
We raised $5.5 million in both Venture Capital funding and good old fashioned debt that will allow us to really throw ScanCafe into high gear. It is important to note that all the really hard things to do – build up the operations, hire the people, buy the equipment, etc. – have already been done. We really wanted to prove the model before going down the road of bringing on financing partners. So the good news is that this money will go to adding services, adding capacity to further reduce turn time and to improve the user interface experience. I will make sure that we do all we can to continue to make the ScanCafe experience an outstanding one. As usual, keep the comments/feedback coming.