WAD: Techbold has seen an impressive growth since its foundation in 2015. What’s the story behind the remarkable progress you made over the past 2 years?
Gerald Reitmayr: Techbold was founded by long-time industry professionals with a clear executional focus: this means we didn’t need to spend a lot of time making a business plan, we were able to go right into execution. While techbold doesn’t enjoy the explosive growth of a startup with a digital product, its growth in such a well developed market as IT sales and services and PC manufacturing is remarkable in our view, too. It was probably the right mix of B2C and B2B that jump started techbold into the category of companies with a couple of million turnover and a healthy profit margin.
WAD: One of Techbold’s main ambitions is to “democratize IT services”. What do you mean by this exactly and how are you trying to accomplish it?
GR: Today’s world is more polarized than it ever was, and sees a huge concentration on the top end. In IT services, it means as a customer you will only get maximum attention if you are big. What if you are a small or medium sized company, the type that constitute the backbone of Austria’s economy? In that situation you will have to struggle with several small suppliers and get stuck in the middle if there are problems. Your ISP vs your phone provider, your cyber security software vs your firewall hardware brand, and so on. Techbold delivers its customers the same end – to end spectrum of services and support that only large customers can afford, all from just one hand. The width and depth of our services are second to none in the industry.
WAD: In addition to major investments from some of Austria’s most successful angel investors, Techbold also raised more than €600.000 through crowd investing. Why did you decide to go with this type of funding?
GR: We raised more than 700.000 to be precise! By working with Conda, we wanted to add liquidity for business expansion. On the other hand we wanted to use the marketing effect to broadcast the techbold story to a wide range of possible customers. After all, many people still think techbold is a phone repair shop while in the meantime this has become a small side business of our B2C arm.
WAD: Virtual Reality is finally taking off. Does Techbold have any particular plans with this exciting new technology?
GR: We’re certain that Virtual Reality has crossed the chasm of the technology adaption curve. However it is at the same time still in the beginning stages of the mass market. Looking at B2C, VR is mainly driven by the advent of major content, mostly in the form of games. Demand therefore is going to correlate with the launch of those games and we want to make sure we’re a perfect source not only for head mounted displays and accessories, but especially for upgrading people’s PCs. There are hardly any shops providing such a service, let alone run on a professional level. Today however, we see much more VR business on the B2B side. In recent months we have become partners to a broad range of content providers, and we can offer a multitude of hardware solutions to chose from – including CyberShoes by 3D Run, or the Virtualizer by Cyberith. Combine this with all major HMDs and bespoke PCs and what you get is full competency to implement the VR solution of your imagination. We’re happy to install and service these solutions in a professional environment, too.
WAD: What are your goals for Techbold in the next 5 years? And what can you tell us about the company’s long-term vision?
GR: Techbold wants to grow both its B2C as well as B2B businesses, by applying ‘bold’ approaches. Our vision is in our name. We will not just grow turnover by a trading business, but by providing services and solutions. In terms of numbers, we expect solid two digit Million turnover within the next five years. Growth will be achieved through both a greater geographical reach as well as through adding additional verticals to the business. The bottom line motto however shall remain the same: we accompany our customers through an ever more technical world and are the partner on their side for them to make the most of exciting innovation.