Bolster

Bolster (Bolster Networks, Inc.) operates a talent marketplace and executive search platform that connects startups and scaleups with senior leaders. The company positions itself as an alternative to traditional executive recruiting, combining experienced recruiters with a sourcing platform to place candidates in full-time, interim, fractional, advisory/coaching and board of director roles. Its stated aim is to help CEOs find executive talent more quickly and at lower cost than conventional search processes.

Beyond the marketplace, Bolster serves venture investors by helping them address talent, coaching, mentorship and board needs across whole portfolios. In 2022 the company launched Bolster Prime, a mentorship and programmatic learning offering for scaling, venture-backed companies, alongside Bolster Ventures, an early-stage venture fund raised from Bolster's own investors and the program's mentors. Internally the company frames its mission as empowering the innovation economy, with an emphasis on diverse candidate slates and flexible working arrangements.

Founding story

Bolster was founded in 2020 out of two converging ideas. Eight executives who had spent roughly two decades building and exiting the enterprise SaaS company Return Path — Matt Blumberg, Shawn Nussbaum, Ken Takahashi, Nick Badgett, Cathy Hawley, Jack Sinclair, Andrea Ponchione and Jennifer Goldman — were exploring new ventures with their prior investors Union Square Ventures, Foundry Group and Costanoa Venture Capital, including a concept called "Venture Acceleration Partners" that would blend operator-led advisory work with co-investment. Separately, High Alpha Innovation and corporate partner Silicon Valley Bank were developing a talent marketplace to help VC-backed portfolio companies manage executive hiring. After Blumberg and High Alpha's Scott Dorsey compared pitch decks, the groups combined, launching the company with a large formation capital round and building the talent marketplace first.

Business model

Bolster runs a members-and-clients marketplace: executives join as members and are matched to client companies for full-time, interim, fractional, advisory and board roles, delivered through a combination of recruiters and a sourcing platform. Adjacent lines include Bolster Prime, a paid mentorship/advisory program for venture-backed CEOs, and Bolster Ventures, an early-stage venture capital fund. The company states a preference for simple pricing that aligns incentives with clients.

Executive search, board search and on-demand hiring services sold to startup and scaleup clients, with the company emphasizing simple pricing and a cost below traditional talent sourcing; the Bolster Prime mentorship program is also sold to clients, and Bolster Ventures is a managed venture fund.

Traction

The founding team launched with what the CEO describes as an unusually large formation capital round and multiple combined business ideas; by the February 2022 launch of Bolster Prime and Bolster Ventures the company reported thousands of Bolster member CXOs on its platform and had signed its first Prime clients and assembled an initial group of former and current CEOs and senior operators as mentors.

Latest developments

In February 2022 Bolster announced the launch of Bolster Prime, a mentorship and learning program for scaling companies led by Jenny Lawton, and Bolster Ventures, an early-stage venture fund raised from the company's investors and Prime mentors, following the announcement of its Series B financing the prior month. The company's site continues to market executive search, board search and on-demand hiring alongside portfolio and membership partner programs.