Interactio: lessons from Lithuania's tale of startup “grit”

  1. Keep selling the vision. Henrikas never got tired of explaining to customers and investors how simultaneous interpretation could be delivered much more widely than today and thus could help participants of meetings understand each other better, therefore lead to better outcomes from these meetings and events. He truly believes that more efficient communication will make the world a better place and goes to work every day to make that happen. This message, delivered in Henrikas’s infectious, positivity-laden words, has convinced many a customer and investor that they are working with a ground-breaking company that will grow huge.
  2. When you have conviction, don't give up. Interactio came close to running out of cash more than once. Change Ventures led the last bridge round of funding and we were encouraged to make this investment partly by the founding team's commitment. They all took deferred salaries to stretch the runway so that the company could build revenues and we could close the investment round. Never once did we have a discussion about giving up.
  3. Focus on customers first. Henrikas sometimes re-scheduled our calls saying that he had a customer call and that always came first. The whole team lavished service on their early and strategic customers, ensuring that they stayed on board despite the inevitable bugs and operational screw-ups. This led to enthusiastic customer referrals and excellent feedback on the product that could be incorporated to improve it.

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Backing ambitious Baltic founders. We invest at pre-seed/seed in teams with the grit to build global businesses, bring a deep network and follow-on investment.

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Change Ventures

Change Ventures

Backing ambitious Baltic founders. We invest at pre-seed/seed in teams with the grit to build global businesses, bring a deep network and follow-on investment.

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