314. How a UK Grad Bootstrapped a Startup to an $84M Exit: The Story of Silas Deane & VendEngine

Silas Deane is a founder, serial entrepreneur, and University of Kentucky graduate who bootstrapped his company, VendEngine, from a back-of-the-napkin idea to an $84 million exit. VendEngine serves correctional facilities, providing a solution that transforms how families support incarcerated loved ones. With no outside funding, Silas grew the company steadily over 12 years, leading to an $84 million acquisition by Tyler Technologies. His accomplishments recently earned him a place in UK's Gatton College of Business and Economics Hall of Fame, a recognition of his successes since his time at UK.In this episode, Silas shares how he navigated the Dot-Com boom and bust, the challenges of bootstrapping a tech company, and the strategies he used to scale VendEngine in a complex industry. Expect to learn how Silas approached building technology solutions for underserved markets, why he never raised capital for the business, and what advice he has for entrepreneurs looking to grow without outside capital.Middle Tech is proudly supported by:KY Innovation → kyinnovation.com