We started Bento in 2020 to solve a problem we called “everboarding”. Basically, how do software products integrate a way for customers to discover the best ways to use that product, and to continue doing so as new features are added, or new use cases emerge.
And over the last 4 years, we built a product that served millions of these end-users. We partnered with our incredible customers to run countless experiments and to rethink their customer onboarding and activation methods, and celebrated with them as they saw success like improving their activation rates by 4 or 5x.
Yet three months ago, I made the difficult decision of winding down our operations and closing this chapter in our journey. The decision was difficult because we had over 18 months of runway and could see profitability around the corner. We had never churned an annual plan customer. Customers were seeing results and excited for their roadmaps ahead.
So why shut down?
We did not find a way to grow fast enough to give me confidence that this would one day be a very large, standalone company. And that was the shared goal of all the employees who joined us, and the investors who backed us, and my goal for putting 100% of my energy into Bento these past years. Surviving, or building a lifestyle business, wasn’t the goal of this particular venture.
Shutting down while we had the runway also meant we could take care of our customers by offering them a smooth transition onto other solutions or internal programs. It meant being able to build out additional features to help them export data. We could take care of the team and help them land in each of their new roles. It meant returning capital to those who believed in us. It meant having the oxygen to do it with integrity and with the values that have guided us each step along the way.
For founders who are in these shoes, or find themselves peering through this fog right now, it is one of the hardest calls to make. When it’s not obvious which path to take, it means you live on the knife’s edge of perseverance and stubbornness. And no founder is not without a healthy dose of both. I’m deeply grateful for the team and advisors who worked with me for weeks and months through this decision and its implications.
There’s nothing I’m prouder of than what we built with our product, business, and culture.
To say goodbye is deeply sad, not simply because we didn’t get to the outcome we all worked so hard for, but because the journey was so meaningful. It was, as one of the Bentosaurs put it: “a Core Memory”.
Thank you to each Bentosaur, to each customer, and to the incredible investors and advisors who cheered us on, showed up to brainstorm and help, and opened countless doors. This journey would have been far less meaningful without you.
As for me, I'm excited to be exploring at the intersection of climate & energy and finding the next great mission to embark on!
Authority on Spiff Implementation
1yThis is exactly how we feel about Bento, it's awesome!