Here's what you should know about Plaid (the startup, not the hipster uniform)

It is Monday, January 7, 2019. In case you forgot.
The company

Meet Plaid, the fintech facilitator 

Plaid builds the technology that allows financial applications to interact with your banking information. When you connected your bank account to Venmo, that was Plaid-powered. 

Their product is an API that makes it simple for app developers to access a consenting consumer's financial data. Plaid handles the messy infrastructure and security headaches of integrating with thousands of banks, bringing down the barrier to entry for developers. 

For example, a personal finance app might use Plaid's API to allow a user to connect their credit card so the app can categorize expenses and provide the user with spending insights.

And since Plaid charges developers based on the number of users and how active those users are, the cost of the service grows only as the business scales. Pretty neat.

The founders' rocky start

First-time founders William Hockey (Emory - Comp Sci) and Zachary Perret (Duke - Physics) met during their first gig out of school as consultants at Bain in Atlanta. The two bonded over their love of rock climbing (their SF office features a climbing wall for work day sends).

Apparently, consulting didn't stick (although they learned some valuable skills). They left for New York and founded Plaid in 2012, gaining recognition (including from venture capital piggy banks) after winning a TechCrunch hackathon in 2013.

With newfound cash in hand, the founders set sail for SF to open their headquarters and grow the operation.

Plaid poised for growth in 2019

In December 2018, Plaid announced a fresh $250M Series C investment with a valuation of $2.65B. Plaid will be funneling that cash (in large part) into ramping up hiring efforts.

The team currently has just under 200 employees and they are hiring across all three offices (SF, NY, and Salt Lake City). Here's the role that caught our eye:
  • Software Engineer - New Grad, entry-level engineer position open to any STEM majors with good coding fundamentals in at least one language
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Oh yeah, we have a podcast. It's called The Missing Ingredient. Each week we interview a tech professional, entrepreneur, or tech recruiter to give students the skinny on the tech industry. Check it. 

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Yours truly,
Zac Cherin
Brendan Uyeshiro