My reflections after five years of building Millie
As Millie turns 5 on August 27th, I feel so appreciative of what we have built, and how we have built it. Today I wanted to share this feeling, and express a huge thank you to all those who made it possible.
1. We built something the way we wanted
When we started Millie, we did not follow any “playbook”. We did not raise a ton of VC capital to scale at a crazy pace. We did not completely bootstrap it either. We raised some capital, to give us some runway, and invested selectively in a unique business model. We now onboard schools as paid partners, while having a core B2C product that drives revenue.
This was not the easiest path by any mean. We chose a very competitive market, deciding to partner with institutions that are naturally skeptical of external support. To this date, when people in the industry find out that we are an online college counseling and tutoring firm that sells to K12 schools, they almost cannot believe it.
However, this was worth it for us. It was consistent with our social enterprise ethos: providing some guidance to everyone through a school, not only to a select few.
2. We got traction in uncommon ways and achieved great results
Part of following our own model was also leveraging any connection we had, and making the most of any opportunity we came across, as long as it was in line with our vision.
For example, we explored high-potential markets like Saudi Arabia, thanks to an introduction to a local school by a friend of mine. This turned the country into what today is the source of 40% of our total revenue.
Another example is how we considered joining, on the recommendation of our board member, an accelerator in Malta in May 2023. We did not feel any need of being “accelerated”, and never had Malta on our radar. Yet, as we explored the opportunity and built a dense network of relationships, we managed to receive non-dilutive funding of $700,000 from Malta Enterprise.
We now have a mentor network of over 1,300 people, paid partnerships with over 30 international schools, and surpassed $2M in cumulative revenue.
And — most importantly — the quality of our support shows in our student results. Our non-selective group of class of 2024 students performed better than any prep school of a comparable size.
3. We laid the grounds to a strong future
As we built our company, we developed a proprietary IP made of content (all original, all created by our mentors) and processes (to select and onboard mentors, control the quality of our programs, and more) that will outlive us.
This is what we had in mind from the very beginning: in an industry where hearsay and rumors drive anxiety and fear-based decisions, we wanted to create a consistent support network that students, parents, and school counsellors can count on. For upcoming class of 2025, and generations to come.
I want to say thank you to all the people in my life that made this possible, starting with my cofounders, my partner, my family and my friends — and also to so many others who, along the way, understood our intentions and decided to help us.
