WyzAnt is an online marketplace for private tutoring and lessons that’s making waves in Chicago and around the U.S. After bootstrapping to $100m in revenue since its creation in 2005, it recently landed a $21.5m investment by Accel Partners in its Series A round.
As a marketplace, WyzAnt has achieved the most critical factor — great liquidity. Its community is here to stay. The company uses hyper-local, personal interactions to fuel its growth by connecting parents looking for great tutors with skilled individuals who can provide those services.
The model has served it well. Today, WyzAnt hosts over 75,000 tutors on its website and has logged over three million hours of tutoring to date.
We had a great time sitting down with Andrew and hearing his story. You can watch the full video below to catch some of his valuable insight, including:
- WyzAnt’s humble beginning after a one-week stint on Wall Street
- The founders’ choice to bootstrap — and why they don’t regret it
- One mistake that Andrew believes too many companies are making too quickly
- Why WyzAnt decided to raise money — and why Accel was the right partner for them
We hope you enjoyed this interview with Andrew, and look forward to the taping of our next Chicago Founders’ Stories @1871 with Redbox founder Gregg Kaplan on September 17th! Click here to sign up for the event.
Pat Ryan is a business and social entrepreneur who has created several high growth software companies as well as several innovative urban education initiatives as a social entrepreneur. Pat’s first company, FirstLook, was recognized by Inc Magazine in 2008 as the #4 fastest growing software company in the U.S. in its Inc 500 rankings – the highest ranking ever for a Chicago based software company. Pat is also the Founder of MAX Digital as well as the Founder and CEO of INCISENT Labs, a platform and incubator for innovative, industry-changing technologies that spin out into high growth companies. MAX Digital was created in INCISENT Labs where Pat and a team are currently incubating their latest start-up. Pat blogs at Coolerbythelake.com and can be reached on Twitter @PatRyanChicago.