In the high-stakes world of startup entrepreneurship, the narrative of CharaChorder stands out not only as an example of innovative product development, but also as a masterclass in securing startup funding.
CharaChorder’s startup journey began in 2019 when Riley Keen strolled into the CodeLaunch office clutching a peculiar-looking device – a concept that would later revolutionize how we type. Now, in 2023, CharaChorder boasts a thriving business, multiple product lines, and a global user base.
The genesis of CharaChorder is rooted in its mission – to vastly accelerate the average human typing speed from 40 words per minute to 250 words per minute, mirroring the pace of human reading comprehension. In under four years since the product’s grand reveal at CodeLaunch 7, the company has made giant strides toward achieving this ambitious goal.
Startup Funding and CodeLaunch: A Defining Moment
So, what exactly is CharaChorder? Unlike the QWERTY-based typing method we are accustomed to, CharaChorder utilizes a state-of-the-art chorded keyboard that allows users to input the letters of a word both individually and simultaneously while the internal processor automatically arranges the letters on the screen in real time.
This hyper-fluent interface was inspired by Riley’s personal experience living at home with his non-verbal father. This groundbreaking device would now allow him to communicate at the same speed that we speak.
The first version of CharaChorder, dubbed CharaChorder One was showcased for the first time at CodeLaunch and operates via the movement of the device, replacing the need for standard typing. This innovative concept harmoniously combines traditional and novel typing methods, underpinning CharaChorder’s success.
“CodeLaunch was a significant turning point for us, marking the first public display of our product, years in the making,” reminisces Riley Keen, CharaChorder’s founder. The platform not only presented the perfect timing but also the ideal audience for unveiling the fruits of their labor.
Startup Funding and Beyond: The CharaChorder CodeLaunch Experience
Despite not securing the winning title at CodeLaunch 7, CharaChorder still emerged victorious. They gained access to free software development services through the startup competition, along with a platform to showcase their innovation. Connections established at CodeLaunch continue to be integral to Riley’s network, encompassing investors and a team member of the winning startup, 3GStrong, who currently uses CharaChorder at their workplace.
After CodeLaunch, the CharaChorder team explored other avenues of startup funding. They attended the Consumer Electronics Show (CES), attracting the interest of angel investors. Crowdfunding through Kickstarter was also leveraged, enabling customers to pre-order their inaugural commercial product. Their startup funding journey culminated in a profitable year in 2022.
Harnessing social media, Riley also built a following of over 150K on TikTok, which proved instrumental in promoting their product without heavy advertising expenditure.
A Unique Take on Startup Funding: Riley’s Advice to Founders
With only about half a million dollars in startup funding, CharaChorder’s financial trajectory deviates from the norm of multi-million dollar funds associated with startup success. Riley’s take on startup funding emphasizes not relying solely on investments. He believes in minimizing undue pressure on entrepreneurs and investors, which often results in premature product launches that could jeopardize the company or product’s viability.
Riley’s sage advice to startups: Utilize your investments to expand your brand and products, but don’t let them be your lifeline. CharaChorder has made strategic decisions regarding its investors, inviting contributions from lawyers who offer additional contract-related advice and technology industry insiders who help refine their products.
Future Goals: The Road Ahead
With their startup funding journey behind them, CharaChorder’s 2023 goal is straightforward. They aim to ramp up their product delivery to weekly schedules (a vast improvement from the previous 3-4 month wait time) and incorporate customer feedback to enhance their offerings.
“We owe our accomplishments to our community. Their unique insights guide us to improve every day. That’s how you elevate a company,” says Riley. This inclusive approach reflects the team’s belief that creating something for marginalized groups can have widespread benefits.
For more insights about CharaChorder, its products, and its mission, visit its website here. Hear more from Riley on our podcast We Code, You Launch, a live weekly interactive session open to our growing Discord community every Monday from 4:30-5:30 CDT. Listen to Riley’s episode now.
Finally, as we gear up for our second competition in Atlanta on May 10th, we invite you to join us and experience the exciting world of startup funding and launches. Find out all about this startup event here!