An exclusive Tech Tribune Q&A with Henry Moore, the co-founder and CEO of REsimplifi, which was honored in our:
Tell us the origin story of REsimplifi- what problem were you trying to solve and why?
We initially built a transaction management tool for the commercial real estate broker with which we hoped to help automate the sales and leasing processes. However, we ultimately learned that there was a larger need by brokers for alternative marketplaces where they could advertise their properties available for sale or lease and connect with prospective buyers in their local marketplaces. We offer a locally focused and connected marketplace for these individuals. We focus exclusively on a limited number of markets and therefore are able to focus all of our energy on capturing the maximum number of properties within a specific market and then maximizing exposure to those properties through our connected network.
What was the biggest hurdle you encountered in your journey?
It is no secret that building a SAAS company is capital intensive. Managing and growing a company while raising the capital necessary to offer your clients the value they deserve can be extremely demanding (especially early on before the company has achieved meaningful revenue). The energy and focused effort required is unlike anything I have experienced in any other job that I have had. I initially found it difficult to relate to my family and friends, or anyone else that is not involved in the day to day of what we were doing.
What does the future hold for REsimplifi?
We are serving an industry that is in a golden age of technology, yet there is still a strong need for effective technology that actually moves the needle. There are some very specific things that we are doing that we are keeping quiet at this point. These efforts are connecting the commercial real estate communities in the markets that we cover in a unique way that is serving both the broker and the consumer in ways they are not experiencing elsewhere. We are excited for both our brokers and REsimplifi prospective buyers and tenants.
What are your thoughts on the local tech startup scene in Columbia?
It is changing pretty quickly and there seems to be a growing number of successful companies that we track and communicate with. There are pros and cons to being a SAAS company located in a smaller southeastern city. But, this has mostly created an upside for us. There is infrastructure here that has definitely helped us find our feet. SCRA’s SC Launch program and the USC Technology Incubator are reasons that we have had some of the success that we have had. Being in a university town, there is a talent base here and likely not as much competition as larger markets. There is venture capital available here and there are other early-stage companies that are happy to help make introductions. It’s interesting to see the start-up scene change over the last few years. It’s definitely more viable.
What’s your best advice for aspiring entrepreneurs?
The best advice is to make sure that you invest only in solutions that your prospective clients are willing to pay for first. If you are not able to get some sort of commitment from them, even if it’s non-binding, then your idea is likely not there yet.