“We all have ideas, but few act on them. You do need to try and not do everything at once, but similarly only you control your actions, and therefore you must decide to take action”
What’s happening: While AI startups globally chase billions in venture capital funding, New Zealand serial entrepreneur JD Trask is launching Autohive with a contrarian approach, proving that bootstrapped businesses can compete with Silicon Valley giants.
Why this matters: With North America capturing 63% of global venture capital with $229.9 billion despite handling only 35% of deals as AI funding reaches unprecedented levels, Trask’s revenue-first model offers an alternative path for local startups where funding opportunities remain limited.
JD Trask’s current business journey doesn’t come down to a singular moment, rather a collection of experiences throughout his life. His entrepreneurial instincts date back to when he was five years old, dismantling remote control cars to understand their mechanics.
By age eight, he was programming on his parents’ PC, and by fourteen, while at high school, he was selling commercial software, developing a knack for translating technical skills into business value.
Growing up with self-employed, entrepreneurial minded parents who regularly discussed finances, business, and the share market at dinner enabled him to develop financial literacy and business awareness which he still uses today.
The foundation years
He continued his entrepreneurial journey at Massey University, running a PC repair business while studying Information Science majoring in Computer Science. This combination of formal education and practical business experience prepared him for the challenges of building technology companies, later recognised with the university’s Distinguished Alumni Award in 2016.
His true entrepreneurial journey, which has always come from spotting tangible business problems and being hellbent on solving them, started in early 2007 when he co-founded a software business called Mindscape which grew into a global business serving over 6,000 clients across 80+ countries.
This led to the launch of his second venture, Raygun, born out of frustration with existing error monitoring solutions, which were clunky and involved crude email-based systems that flooded inboxes with irrelevant notifications. “We launched Raygun in 2013, processed our first billion errors in 2014, and now handle over 100 million requests per hour, serving major clients including Microsoft, Coca-Cola, Domino’s Pizza, Samsung, and HBO,” Trask explains.
The AI revolution
The company generates millions of dollars in annual recurring revenue, with 92% coming from exports to over 100 countries, demonstrating the global reach achievable from a Wellington base. This success positioned Trask to launch Autohive, where he sits as CEO alongside his CEO duties at Raygun.
“We launched Autohive this year, following the generative AI boom that kicked off in 2023. Autohive is a no-code AI automation platform that I truly believe could represent a bigger revolution than the internet,” Trask states.
While 43% of the new unicorn startups in 2024 are AI companies, Trask’s approach differs fundamentally from the venture-backed model dominating headlines. Autohive addresses a critical gap in AI implementation where 91% of small and medium businesses using AI report revenue increases, yet only 35% have actually adopted the technology due to implementation complexity.
Solving real problems
The platform enables businesses, from florists to accountants, to create AI agents that handle complex workflows like GST reconciliation, customer support, and content creation. Customer testimonials highlight dramatic efficiency gains: reducing GST reconciliation from two days to 18 minutes, cutting customer support first response times by 94%, and automating weekly analysis reports that previously took four hours.
“Autohive’s pricing model reflects my philosophy of aligning costs with value. At $20 per month per company regardless of size, the platform makes advanced AI capabilities accessible to businesses that lack resources for custom development,” Trask explains.
Autohive focuses on providing a platform that allows business people to easily use and implement AI agents to solve real business problems. The platform is also agent agnostic, meaning ChatGPT and Claude can chat with one another, which is unique in the market.
The bootstrap advantage
Starting out at 23, it would be very easy to say, ‘I’m too young’. Being mindful that your brain will look for reasons to not do something, and powering through that anyway when your gut says you should”
A key strategy contributing to growth has been not letting silly reasons create barriers. “Starting out at 23, it would be very easy to say, ‘I’m too young’. Being mindful that your brain will look for reasons to not do something, and powering through that anyway when your gut says you should,” Trask notes.
Another crucial element is agency and taking action. “We all have ideas, but few act on them. You do need to try and not do everything at once, but similarly only you control your actions, and therefore you must decide to take action.”
Being international by default proved essential. “We’re a digital business; therefore, we can have customers anywhere in the world. We approach all product and business development this way. This has led us to have high export revenues as a percentage of revenue,” he explains.
Lessons from experience
Through nearly two decades of building technology companies, Trask has faced trademark trolls trying to extort businesses, managed co-founder challenges, exit challenges, and capital raise challenges. “Just about everything you can imagine, we’ve faced at some point in my career as a founder,” he reflects.
The key lessons remain consistent: “Back yourself, don’t skimp on paying for advice and get comfortable with disagreement. These traits have helped overcome issues throughout the journey.”
Early encounters with older business leaders who thought they could take advantage of a younger partner taught valuable lessons about standing firm. “Being willing to stand up to that, involve lawyers if you must, and be your own person can be very hard to do at that age, and with those types of partners. However, in doing so, it helped establish the reputation that you’re fair but won’t be bullied.”
Revenue over funding
For aspiring entrepreneurs, Trask advocates a revenue-first mindset over chasing funding. “My bootstrapped approach to building global software businesses has meant I have been able to achieve eight-figure annual revenues with minimal external funding. This challenges the traditional Silicon Valley venture capital model, and can be a key enabler for local startups in Australia and New Zealand, where funding opportunities can be limited.”
This approach becomes particularly relevant as Australia’s startup ecosystem buzzes with ambition and innovation, but securing the right funding remains a critical challenge in 2024.
Beyond business success, Trask emphasises wider impact. As part of the founding team of Givealittle, he helped create the country’s largest online fundraising platform, which facilitated over $20 million in donations to New Zealand organisations before its sale to Spark Foundation in 2012.
In 2019, he announced a $15 million investment in expanding the Wellington workforce, bringing all staff back to the office to support the local community. His recognition as a thought leader extends internationally through podcast appearances and industry commentary on AI adoption and business transformation.
The message remains clear: global software success doesn’t require Silicon Valley funding or location. With the right mindset, technical skills, and customer focus, world-class businesses can emerge from anywhere with decent internet infrastructure and entrepreneurial ambition.
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