Print
Entrepreneurs

Vantaca Fills HOA Industry Need

By Scott Nunn, posted May 7, 2021
TECHNOLOGY | VANTACA BEN CURRIN, CEO| YEAR FOUNDED: 2017 | EMPLOYEES: 100 (Photo by Michael Cline Spencer)
Wilmington’s best-known startup and another up-and-comer have similar beginnings: Both were created after established companies needed better industry-specific software systems.
 
Not satisfied with what was available on the market, both Live Oak Bank’s Chip Mahan and Community Association Management Services’ (CAMS) David Sweyer set out to develop their own systems.
 
As they brought in software developers, both realized their products could be valuable to others. Sweyer faced the same dilemma at CAMS, which manages communities for homeowners associations.
 
“The HOA industry did not have a software solution that met the needs for our company, so we decided to develop our own,” Sweyer told the Greater Wilmington Business Journal in 2019.
 
He brought in David Gunn and Will Warner to help develop the software, and the team quickly realized there was a similar need industry-wide.
 
“We made several peer companies aware we were developing our solution, and they expressed interest in purchasing [it],” Sweyer said.
 
Vantaca was launched in 2017 and its platform is now used by 130 organizations, including management companies and HOAs representing 2 million individual homes.
 
Members of Vantaca’s early “skunkworks” team all had worked in the HOA industry.
 
“The folks who were saying ‘these are the requirements for the system’ were all people who had worked in the industry,” said Ben Currin, Vantaca’s CEO. “Those were, you know, the director of accounting from CAMS, the chief operating officer at CAMS, a few other folks who really had their hands all the way in the industry.”
 
Currin believes that close connections to the industry it serves, as well as the company’s ability to meet specific needs of clients, are a vital part of its success. (It’s grown to 100 employees and expects to add up to 40 more by the end of the year.)
 
Currin, a Wilmington native and former Naval officer, said entrepreneurs can make the mistake of putting the cart before the horse.
 
“I think there are a lot of technology companies out there who have a really interesting solution … and they’re looking for a problem to solve,” Currin said. “We saw a problem that was very real and built a solution to very specifically address that problem.”
 
At its core, Currin said, Vantaca’s platform is a product that can handle relatively complex accounting tasks and also serve as a customer relationship tool. When asked about the possibility of retooling the software for other industries, Currin didn’t dismiss the idea. He quickly noted, however, that plenty of opportunity remains in the HOA industry.
 
He also wants to ensure Vantaca never becomes complacent, failing to evolve with the needs of its customers.
 
“We’re just kind of scratching the surface of the addressable market for the industry,” Currin said. “And we’d really like to keep dialing in the solution for our industry.”

Click here to meet all of this year's CEA winners

Ico insights

INSIGHTS

SPONSORS' CONTENT
Dave sweyer 300 x 300

Common Property Management Mistakes

Dave Sweyer - Sweyer Property Management
Tommytaylor ceo unitedway

I Got 99 Problems But a 501(c)(3) Ain’t One

Tommy Taylor - United Way
Mc2 56882

Landing Whales Requires A Larger Ocean With More Food

Scott Byers - Majestic Kitchen & Bath Creations

Trending News

New Owners Announced For South Front Street Restaurant

Staff Reports - May 23, 2022

Coastal Entrepreneur Of The Year For 2022 Named

Johanna F. Still - May 24, 2022

Former First Bank Exec Named CFO Of New Hanover County

Staff Reports - May 23, 2022

World-famous YouTuber Spotlights Two Local Restaurants

Jenny Callison - May 25, 2022

Governor's Office Honors Brunswick Co. Volunteers

Staff Reports - May 24, 2022

In The Current Issue

Creative Campus Aims To Draw Artists

The Cucalorus Festival has covered a lot of ground over the past 28 years, and with executive director Dan Brawley at the helm, it continues...


Local Startups Aim To Innovate

Innovation helps set a startup apart from the competition, said Heather McWhorter, regional director of the UNCW Small Business & Technology...


Info Junkie: Aariene Hansley

Aariene Hansley, entrepreneurial academy education coordinator at business development firm Genesis Block, shares her top info and tech pick...

Book On Business

The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100