Huntress: Empowering Small Businesses Against Cyber Threats with Innovative Security Solutions
Company profile
Company business details
Motivation to build the product
The founders were motivated by the need to protect small and mid-sized businesses that often lack the resources and expertise to defend against cyber threats. They recognized that traditional security measures were insufficient and sought to create a solution that combined automation with human expertise.Problem that their product solves
Huntress solves the problem of inadequate cybersecurity for small and mid-sized businesses, which are often targeted by hackers due to their limited resources. The end users are these businesses, and solving this problem is crucial for them to protect their digital assets and maintain their operations in an increasingly hostile cyber environment.Their unfair advantage
Huntress's unfair advantage lies in its combination of automation and human expertise, allowing it to provide enterprise-level security solutions at an affordable price for smaller businesses.Strategies
Pre-Launch (Product Development & MVP)
Customer-Centric Product Development
In the early days of Huntress, Kyle, the founder, took a unique approach to product development by directly engaging with potential customers. He worked for free at customer offices one day a week to understand their real problems. This hands-on experience allowed him to gather insights that went beyond what customers would typically articulate, leading to the development of a product that truly met their needs. This strategy not only helped in refining the product but also built strong relationships with early adopters.
Bootstrapping and Personal Sacrifice
Kyle Hanslovan, the founder of Huntress, bootstrapped the company for three years, burning through all his savings. During this time, he faced significant personal challenges, including sleeping in his car for 16 weeks while participating in a startup accelerator program. This level of personal sacrifice demonstrated his commitment to the venture and helped him to focus on building the product without external funding.
Leading with Education
To create organic demand for Huntress's product, Kyle focused on leading with education rather than direct sales. He organized educational sessions and presentations at trade shows, where he demonstrated the tactics used by hackers and the importance of cybersecurity for small businesses. This strategy not only built credibility for Huntress but also attracted potential customers who appreciated the informative approach. By educating the market, Kyle was able to create a strong brand reputation and establish trust with potential clients before they were ready to purchase.
Launch Stage
Radical Transparency with Stakeholders
During the launch stage, Kyle implemented a strategy of radical transparency with his board and executive team. He shared unredacted board slides during monthly Town Hall meetings, discussing both successes and failures openly. This approach fostered a culture of trust and accountability, allowing the team to address issues head-on and learn from mistakes. By being transparent about the company's performance, Kyle ensured that everyone was aligned and motivated to improve.
Trade Show Sponsorship
In a pivotal moment for Huntress, Kyle and his co-founders invested their last $25,000 to sponsor a trade show focused on managed service providers (MSPs). They set up the smallest booth and worked tirelessly to pitch their product, conducting hacking demos and engaging with potential partners. This effort resulted in their first customers, which were crucial for keeping the business afloat and establishing initial traction.
Learn more about Huntress
#210 CEO & Co-Founder Huntress Kyle Hanslovan w/ Ev Randle: Deep Roots
He got rejected by 60 VCs, burned all his savings—then grew to $100M ARR & a $2B valuation. | Kyle Hanslovan, Founder of Huntress
