A new year is always a healthy time to consider change, and it’s with enthusiasm that I am handing over the CEO reins at Bunker to Jordan Simkin. Jordan and I started to work together over a year ago, and he formally joined the team in October as his value to our business and the team became increasingly obvious.I’m a firm believer in ‘re-potting the plant’ as they say, injecting new perspectives and creating room for growth. Over the past year he’s not only been a trusted partner to work alongside, but he’s also become a close friend. We share a similar vision, and I was thrilled when he accepted the opportunity. His background in founding and operating several successful internet and software businesses is a perfect fit for the next stage at Bunker, which is profitable growth.
When we first started Bunker, our mission was to embed smarter insurance into a native process – managing certificates of insurance. While a variety of financial products are embedded in other processes today (e.g. warranties in a product purchase, workers’ compensation in payroll, etc.), we were the first to do it for a business’s COI compliance process. We continued to iterate and pivot during our first 5 years – always learning and adapting to improve. It’s much easier on paper than it is in practice, and the team deserves all of the credit on being resilient; listening to customers, relentlessly iterating, and overcoming the daunting challenges that come in building something from scratch.
Fast forward to today and we have many accomplishments to be proud of. We have a great team executing on our mission, a 2020 YE revenue growth rate of ~40% (December was our best month yet), a Trustpilot rating of 4.8/5.0, and a business on track to achieve profitability in 2021. While we have similarities to our early vision of the business in 2016, over the past year in particular we’ve focused on our SaaS and API certificate of insurance compliance platform. In addition to Jordan moving into the CEO role, other talented and passionate team members are stepping into larger roles as part of this transition. The fresh leadership and perspective is the perfect springboard for this next stage of our business, and I couldn’t be more excited about the future.
On a personal level, while I’m stepping away from the CEO role, I’m excited to continue to support Jordan and the Bunker team as an active board member, advisor, and shareholder.
Please join me in congratulating Jordan and the rest of the Bunker team, and a sincere thank you to our customers, investors, and other stakeholders who have helped get Bunker to this point!