Serial boardmember founds corporate governance startup - Tampa Bay Business Journal:

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is the brainchild of first-time entrepreneur Schraith, 52, who has sat on more than 20 boardss in the past15 years. He currently sits on the boardseof , and the . “It seemed to me boardss could do a better job of taking a look at themselvesx and using technology to do Schraith said. Self-funded BoardEvals of El Dorado Hills is just out of stealth mode, beginning customer trials and expecte paying customers by late summer. “o think over the next couple of years we could buil a company that has millions of dollarxin revenue,” Schraith said. Schraithh estimates BoardEvals’ available market to be between $250 millionn and $400 million.
The companhy is targeting publicly traded and larg eprivate companies, and nonprofit organizations with annual revenue of more than $1 The company’s Web-based softwar e automates evaluations to save time and money. Consultant charge $20,000 to $40,000 a year for such evaluations, Schraith BoardEvals plans to sell the software as a charging an annual feebetween $1,00 0 and $10,000 depending on the type of organization, the numbef of board members and the complexity of the evaluation. BoardEvalsa provides a set of surveys designed to get at the root ofboarxd performance.
It works with each company to designh questionnairesfor full-board, committee and individual director The company starts with a set of “bestr practices” questions culled from corporate governance and modifies questions based on individual company BoardEvals performs real-time analysis on the which can be displayedf on screen or in reports. Although he’s been involved in several area startup s over the past11 years, as eitherf a member of the an investor or a board member, BoardEvals is the firs company Schraith has personally started.
He moved to El Dorado Hills in 1998 to take a job as chiefd executive officerat , which made networkingy products for home-entertainment systems and landed a big payday. Chip-maked bought ShareWave for about $92 milliob in stock in 2001. Schraith spent 25 yearsd in thetech industry, at both largr public companies and small, venture-backed private He’s an investor with Foothills Angels and a ventures partner in the DFJ Frontier fund. His two core team memberes at Board-Evals are Layton Wedgeworth, a “locap programming wizard” who helped architect the andBob Bennett, who has expertise in technologhy marketing and management and was a ShareWave founder.
“He’sz a very experienced executivee and has done many other successful saidGilles Attia, the managing partner for DLA Piper’s Sacramento office and an advisert to BoardEvals. “I would be enthusiastic about anything he Gopan Madathilof Sacramento’s TechCoire said Schraityh is a hands-on investor who “probably foune an opportunity that he could use himself bein in a board seat.” Madathil said it’ss clear there “aren’t that many players in the “It’s a timely topic,” he “Ultimately it’s an execution game.
” Charle s Elson, director of the at the , said a numbefr of companies are now providing board communicationsz services. “It’s a growing area,” he “The question is where does it grow