Knack Now Has an Investment Partner



Knack announced the other day that it had recently taken on an investment partner, and some top management changes were made. As shown above, the cofounder and company leader is now the CTO, and they brought in a tech management heavy hitter to be CEO. Pretty big announcement.


Actually, several of us professional Knack developers met with Brandon and the new CEO a couple weeks ago, to get in tune with what is up.


What are my thoughts on this? Well, I think it is great news. Here's why: Since Knack's founding, it has always self-funded its growth and product development ... they referred to this as "bootstrapping". I firmly believe Knack has the best product in its place in the market. But, this is a very hot market, with new competitors all the time, also doing some very clever things. I don't believe Knack could continue to be a leader with their self-funding model, they need investment capital. And Brandon bringing in a seasoned SAAS executive was an absolutely smart call, paving the way for a smooth and accelerated future for this company.


What to expect? Now, last year Knack introduced the new backend builder. This year they transitioned the new "performance environment", basically rebuilding the entire backbone of their system to be significantly faster and more stable. These were both HUGE projects. With these now in place, they are able to focus on product improvement and new functionality development... which if you have been around a while, these have been frustratingly slow to come. Pretty darn sure we will start getting much better support response too (I bet we will still have to wait a little bit for this one).


I don't have a specific timeframe, but they are currently expanding their engineering and development staff considerably, with lots of new hires. And once the new CEO gets settled in, and implements his management processes, we'll start seeing all kinds of improvements rolling out.


I'm looking forward to it. If you want to read the full news release, it is below. Thanks.


rtp-and-knack-partnership
.pdf
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