PayHOA, profitable and once bootstrapped SaaS startup, secures $27.5M in Series A funding

Are you ready to dive into the world of innovative startups and the real-world problems they solve? If so, then you’re in for a treat with this blog post! Today, we’re going to explore the story of PayHOA, a Kentucky-based startup that is revolutionizing the way homeowner associations manage their communities. From humble beginnings to a significant Series A funding round, PayHOA is a prime example of turning challenges into opportunities. So grab a cup of coffee, sit back, and let’s embark on this exciting journey together.

Sub-Headline 1: From Bootstrapped Startup to Series A Success

PayHOA, founded by CEO Mike Bollinger, started in 2018 with a mission to provide self-managed homeowner associations with the tools they need to thrive. After selling two successful companies, Bollinger saw an opportunity to fill a gap in the market. The journey from bootstrapped startup to a $27.5 million Series A round is a testament to the hard work and dedication of the PayHOA team.

Sub-Headline 2: The Power of Profitability and Growth

Despite a challenging fundraising environment, PayHOA stands out as a profitable company with positive EBITDA. The SaaS offering has seen impressive year-over-year revenue growth of over 70% and boasts more than 652,000 users. With a subscription model based on the number of units in the community, PayHOA is catering to a significant portion of the market that has long been underserved.

Sub-Headline 3: Future Plans and Expansion

As PayHOA looks to the future, the company is focused on expanding its team and investing in product development. The recent introduction of a Payables module that uses OCR technology to streamline invoice processing demonstrates PayHOA’s commitment to innovation. While the company currently plans to stay within the realm of community management, the potential for growth into other areas is on the horizon.

In conclusion, PayHOA’s journey is a true testament to the power of innovation and entrepreneurship in solving real-world problems. With a strong foundation in place, a dedicated team, and a clear vision for the future, PayHOA is poised for even greater success. So whether you’re a startup enthusiast, a homeowner association board member, or simply curious about the world of tech and finance, this blog post has something for everyone. Stay tuned for more updates on PayHOA and the exciting developments ahead!

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