Tuesday, January 24, 2017

Rakuna.Co: Announces their Public Launch

Rakuna.Co just had their public launch this month! 

Rakuna.Co was started by Trong Dong and Ngan Pham, graduate students and STARTUP participants (class of 2015). Dong was initially interested in recruiting solutions for a while, so he confronted several students and recruiters to understand the problem of current recruitment. There was a disconnect from offline to online recruitment experience. That's where Rakuna.Co emerged. Dong and Pham wanted to provide a fully engaging experience between the candidate and recruiters both offline and online while gathering the candidate's information. 

Rakuna.Co, a finalist for the MN Cup 2015, is a candidate relationship management (CRM) solution for millennial recruiting. The solution provides a more efficient way of recruiting candidates. Even in the short time of operation, Rakuna.Co has many accomplishments:
  • Raised over $60,000 from various angel investors
  • Achieved actual sales with 5 customers, 2 customers who are annual multi-year contracts
  • Grown the team from 2 founders to 15 team members (including full-time, part-time, contractor, interns who are working around the world)
  • Set up the operational team in Vietnam, which helps Rakuna.Co to manage cost very efficiently
  • Participating in the Vietchallenge competition, a global start-up competition fro startup with Vietnamese founders, and have advanced to the semi-final round!
However, there have been a few challenges they have faced as well:
  • Figuring out the sales process
  • Cutting cost efficiently with operational team in Vietnam
Rakuna.Co wanted to share some advice to individuals looking to start their own business:
  • Pick your partner carefully - founders conflict is one of the most common reasons a startup fails
  • Pick your board of advisors carefully - you will need a lot of wisdom and help along the way. A strong board of advisors will help a lot. 
  • Focus on customer development process at the beginning - It will save you a lot of money! 
  • Be persistent - There will be a lot of ups and downs. Do not give up. Pivot until you find what works. 

What has Rakuna.Co been up to?