Eric Boduch: Revcast, 24 and Up, and Building the Next Generation of Triangle Startups (Part 2)

In Part 2 of our conversation with Eric Boduch, Pendo co-founder and CEO of Revcast, we explore the world of venture studios. Having left Pendo to pursue his vision of parallel entrepreneurship, Eric shares how his studio, 24 and Up, identifies, builds, and funds new companies.

This episode unravels the unique model of a venture studio, differentiating it from accelerators, incubators, and traditional venture capital. Eric also offers a candid assessment of the Triangle's startup ecosystem, highlighting its strengths and identifying key areas for growth.

Tune in to hear:

• What a venture studio is and how Eric's 24 and Up model co-creates companies with entrepreneurs, acting as an "unpaid co-founder."
• How the venture studio model provides hands-on support, helping companies grow faster and achieve better outcomes.
• The origin stories of Revcast (revenue optimization), Wayfound (AI agent performance management), Troop (brand story consistency with AI), and Sesame (digital identity marketplace), including which ideas came from within the studio and which were external.
• The challenges and opportunities of building companies in a changing macroeconomic landscape.
• Eric's perspective on managing multiple companies simultaneously and the team structure at 24 and Up.
• A candid discussion on the Triangle's startup ecosystem, including its strengths in technical talent and successful founders, and areas needing development like early-stage venture capital.
• Why entrepreneurs have a responsibility to buy from other startups to strengthen the local ecosystem.

Where to Find Eric Boduch:

LinkedIn: https://www.linkedin.com/in/eric-boduch-a1b61/
24 and Up: https://www.24andup.com/
Revcast: https://www.revcast.com/

Where to Find Scot Wingo:

LinkedIn: https://www.linkedin.com/in/thescotwingo/
Tweener Times: https://www.tweenertimes.com/
X: https://x.com/scotwingo

In this episode:
(00:00:03) Eric's plea: Entrepreneurs must buy from other entrepreneurs to build a stronger ecosystem. 
(00:04:46) What is a venture studio? Eric breaks down his model for co-creating and funding companies. 
(00:06:33) Why Eric chose the venture studio model over accelerators, incubators, or traditional VC. 
(00:12:00) The birth of Revcast: from an internal Pendo idea to a revenue optimization solution. 
(00:17:56) The origin of Wayfound: an AI play in agent performance management. 
(00:21:47) Introducing Troop: leveraging AI for brand story consistency and improving win rates. 
(00:24:34) Sesame: an external idea for a digital identity verification marketplace. 
(00:26:17) Looking ahead: New ventures in social selling, e-commerce, and AI agent technology. 
(00:28:30) Managing multiple companies and the strategic advantage of asymmetric information for early-stage investment. 
(00:33:15) Building the 24 and Up team and the strategy behind raising more capital for the studio. 
(00:36:13) Comparing the Raleigh and Pittsburgh ecosystems: strengths, weaknesses, and the need for "Pendo Mafia" spin-offs. 
(00:43:56) The critical need for early-stage "YOLO" VC funds in the Triangle to back generational companies. 
(00:49:32) The entrepreneur's responsibility to buy from other startups and foster local growth.

Triangle Tweener Talks is hosted by Scot Wingo, presented by Triangle Tweener Fund, and produced by Walk West.

This is Part 1 of Eric Boduch's story. Tune in next week for Part 2!

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Triangle Tweener Talks is sponsored by:

• Atomic Object: https://atomicobject.com/