# Built in tranches, backed by the crowd | Contractor+

- Canonical URL: https://wefunder.com/feed/398199
- Entity ID: wefunder:feed_item:398199
- Published at: 2026-09-30 19:33:04 UTC
- Updated at: 2026-10-01 13:17:47 UTC

## Author
Justin Smith

## Subject
Contractor+

## Content
We could have sold half the company to a VC. Instead we raised in small tranches from people who believed and gave the upside to them. Here's the story.Most software companies at this stage have taken millions in venture capital and handed over a board seat (and a big slice of ownership) to get it. We went a different way, for a reason.Since 2021 we've run three small community raises on Wefunder, all on convertible notes, taking capital in strategic tranches rather than one big dilutive round. On those rounds alone, we built a product now generating nearly $1M ARR. 💥Why the crowd, not VCs?Because the people who use Contractor+ and the people who believe in Contractor+ are often the same people and we'd rather they own it. You took a real risk on us early – if this becomes the exponential outcome we're building toward, you should own a piece of it.💪Founder-led & aligned: Co-founders still own 85% of the company we're building. We're not optimizing for someone else's exit timeline.💰Capital-efficient by DNA: Nearly $1M ARR built with zero VC. Every dollar you invested went into product and customers, not overhead. You see it in the retention: 90% gross, ~100% net revenue retention inside our core base.👷‍♂️Same cap, held for you: We kept the $8.1M cap from 2024 rather than marking it up. You get the same entry price today that our backers got in our last round, but with two years of shipped product, proven retention, and revenue that's doubled.This raise is the next trancheAnd we're structuring it the same way. Your note converts to equity at our next qualified round – whether that's institutional Series A, growth equity, or Reg A+. Whichever path serves the company and you best.💸Don’t forget – early-bird priority access is open now. Existing investors and our community get first access to invest before we invite the wider public.I’d love to have you with us. Invest now → wefunder.com/contractor.Let's build!Justin SmithFounder & CEO, Contractor+