2021 was a difficult year for Typesense, but not in the way you would imagine.

The problem was not growth. We were growing comfortably month over month with little fuss.

But our competitors were raising millions of dollars and doubling their team sizes and their on-paper valuations.

Every other week a new angel investor or venture fund would reach out. Some wanted to genuinely learn about us, some wanted to know more about the search space, and a few others were just curious about us because they were thinking of investing in one of our rivals (it’s a small world, so word gets around!).

Some of the larger potential customers that we were speaking to back in 2021 were concerned about our viability as a business that had not raised VC funds.

“Are you venture backed? Why don’t you raise a round and hire a few more people? We will be much more confident to proceed with your solution then.”

We politely nodded and passed.

But the FOMO was real and there was always a doubt lurking at the back of our minds.

In mid-2021 we came mighty close to actually closing a round. However, the fund developed cold-feet at the last moment, and said they were “not ready yet”.

In hindsight, we dodged a bullet. I know several companies that raised at ridiculous valuations in 2021. Today, they have already done a round of layoffs and are now preparing for a down-round.

In stark contrast to these companies, we’re actually hiring and growing the team now. We’re profitable, growing fast and have a war chest ready for lean times.

So this is just a note to prove the naysayers wrong: we were fearful when the others were greedy. Now we plan to be a little greedy when others are fearful.