Robert Biederman, the co-founder of HourlyNerd, sent a cold e-mail to billionaire investor and entrepreneur Mark Cuban asking him for funding. HourlyNerd owed their development firm a payment so they figured that applying for “Shark Tank” would not cut it due to the short deadline.
According to The New York Times, Cuban responded to Biederman in about 15 minutes. HourlyNerd is a website that connects businesses to the top MBA students and alumni for solving business problems at an affordable price. The Times reports that the amount is typically between $25 and $75 per hour.
Biederman talked to Cuban’s lawyers and found out that Cuban was going to put in $450,000. Biederman and the other co-founders at HourlyNerd started the company while at Harvard Business School. Biederman is currently at Harvard in his second year.
HourlyNerd has raised a total of $750,000 in seed financing from Accanto Partners and Connect Ventures. The company now has over 300 companies on their platform with over 900 MBAs from several business schools.
The founders in HourlyNerd includes Biederman, Peter Maglathlin, Joe Miller and Patrick Petitti. The four of them launched the company out of the Harvard Field 3 course. The Field 3 course requires students to start a company. HourlyNerd was put in second place out of 150 companies in a Harvard competition this past May. The first place prize went to a company that focuses on elderly care.