When we founded DueDil most people thought what we were doing was illegal. Exposing private company details? Ironically we ended up playing a part in exposing real criminals. Our humble beginnings were on the forefront of the transparency movement, exposing tax avoidance schemes and helping people do better business. We created a growing sense of trust in partnerships, helping to solidify the foundations of our economy.
The naysayers also thought we couldn’t scale to other jurisdictions, and that we would never get access to real-time data. All of this we have disproven.
In the last 7 years we have grown from covering 3m companies to 130m companies, our team has grown from 3 people to 93 people and sales have grown by nearly 100% year on year for the past three years. On a weekly basis, we see household names buying our services as we continue to be one of the most well known UK tech companies. I am proud of every accomplishment we have fought to achieve and I am humbled by the grit it has taken to get here.
As part of reaching this level of growth, I have often spoken of the importance in making yourself dispensable. While this task can be emotionally taxing, it is how you ultimately grow as an individual, as a team and as an organisation. If a single person’s absence can damage a company, then are they truly an effective teammate?
It is on this note that I make the bittersweet announcement that I am stepping aside from my role as CEO. The fact that I am no longer a necessary component of this company functioning speaks volumes of our team. I am proud that I have led something so much bigger than myself. I am proud to be dispensable.
I am going to remain on the board, and continue to be an active shareholder of this company. I am also maintaining my open-door policy to you, our customers, and to anyone who has an interest in DueDil. I have too much heart for this company to ever fully leave.
As for the future of my position there is no one better equipped to take my place than my co-founder, Justin. As COO he has countlessly proven his strength of leadership, and his complete alignment with this company’s values. Justin filling in my shoes won’t be much of a change, as we’ve worn the same pair for the better part of our history. There is no one I trust more to lead this family forward.
I want to thank our customers whose patience and feedback over the years has led us from strength to strength. In my absence our gratitude and partnerships will remain. As will the drive and innovation that has brought us together from the beginning.
What’s next for me? In the coming months, I will be launching a new business in the US consumer lending space. After the better part of a decade at DueDil, I am excited for a set of fresh challenges that will allow me to continue to do what I love - building an organisation around customers who need us.
Also in the coming months, there will be exciting announcements about DueDil.
Before I go, I wanted to express my gratitude to every single one of you for teaching me so much. I am a much stronger, smarter person having worked with all of you. And I am excited to move forward with the tools you have given me.
(ex) CEO, DueDil
From Justin Fitzpatrick
Damian and I first met in the spring of 2011, when he had just launched DueDil. I was completing my Masters in Finance degree and working part-time at a local VC fund. DueDil was entirely the wrong profile for the fund, but there was something about Damian and the conviction he had about what he wanted to build that stuck with me.
After almost a year of back-and-forth conversations, I finally joined DueDil full-time in May of 2012. Damian’s tenacity and the expansiveness of his vision convinced me that there was a problem worth solving buried in the murky world of private company information.
Fast forward nearly six years and so much has changed in both our personal lives and the business. We’ve grown together and shared experiences that only come from the chaos of building a high-growth company together. I’m pleased to say that DueDil is no longer a start-up. We’re now a growth company with global ambitions, and that’s down to Damian’s vision and leadership these past seven years.
The year ahead is going to see DueDil’s transformation into a global company. This is work we started last year by increasing our company coverage more than 10x to 131m global companies. Our technology gives us an edge, and we expect to see a similar increase in coverage this year. We’ll also continue to promote the rapid adoption and growth of our API, which is now being used by some of the largest financial institutions in the world to improve their customer experience and ensure compliance with their regulatory obligations. Most importantly, we’ll continue to invest in attracting and developing world-class talent. With these initiatives, we’re well on our way to achieving our mission of becoming the world’s most complete source of private company information.
DueDil has grown up a lot these past seven years, but one thing has stayed the same. All along we’ve been guided by a single, driving force: to use information to fuel a more informed and connected economy. There’s never been a more important time to make this vision a reality.