Vettery's $110M Exit Journey
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Brett Adcock shares the story of his journey with Vettery, from near bankruptcy to a successful exit.
"When I started Vettery, I couldn't get anybody to invest in the business for almost 3 years. I put all my savings, about $200,000, into the company and took no salary for 3-4 years. I had to pay for my own healthcare, food, rent while living in Manhattan.
In 2015, things got so bad that I had to borrow $50,000 just to pay for rent and survive. I had credit card debt and was probably negative $100,000 prior to the acquisition of Vettery.
Over 7 years, I raised a little over $10 million, which meant I had a large percentage ownership of the company. Then Vettery sold for $110 million. It was an overnight success going from 7 years of agony and debt to having significant capital for the first time."
Brett Adcock
Brett Adcock is a technology entrepreneur and founder/CEO of Figure. Figure is an AI Robotics company developing a general purpose humanoid.
In 2023, he founded Cover, an AI security company developing concealed weapon detection systems. Cover’s imaging technology scans students for concealed weapons in K-12 schools in the United States.