The Journey of Bost.ai: Bootstrapping to a $23 Million Exit

Lloyd Lobo, co-founder of Bost.ai, shares the story of how they created a software application to simplify the process of applying for R&D tax credits. They started by cold-calling potential customers and hosting events to build relationships and generate demand. They manually collected and filed the tax credit data for their customers, ensuring faster payouts and minimal audit risk. As their business grew, they secured a credit facility and incorporated AI into their platform, automating the process and providing analytics to help businesses accelerate their R&D. They eventually sold the majority of the business for $23 million, reinvesting the capital to fuel future growth.