Being Nimble Led This Accidental Entrepreneur to Success

It’s no secret Arizona has a ripe ecosystem for startups and tech companies — and that is just one of the things that attracted startup founder Josh Lau to the Valley. When he moved to the area last year, he also introduced a new company to Phoenix: Nymbl Systems, a healthcare records and practice management platform for the durable medical equipment space.

Josh had the seedlings for Nymbl while he was working on the IT side of healthcare operations in Kentucky. While working in an orthotics and prosthetics clinic, he was tasked with finding a practice management software solution, but after six months of searching, he kept coming up short. Half joking, he suggested he build the software for the clinic. The owner liked the idea and that kickstarted Josh’s journey as a tech startup founder.

As the company began to grow, Josh knew his network and partners would be crucial pieces in the company’s success. He was fortunate to find several investors who believed in the mission wholeheartedly and helped Nymbl find its early success. But Josh also wanted to be in a hotbed of other startups and that meant relocating to Phoenix. Since Nymbl Systems’ official launch in 2018, it has grown to more than 700 clinics across the US and several other countries.

In this conversation, Josh shares how he set the foundation to build a scaleable company and gives his advice to founders looking to do the same.

What is Nymbl Systems?

Nymbl is a healthcare records and practice management platform for the durable medical equipment space. We help schedule, keep patient records, bill, and do the inventory for providers that create prosthetic limbs, custom bracing, powered wheelchairs, crutches, and canes. There’s a company called WebPT that we have a very similar product to, but instead of being in the physical therapy space, we are on the durable medical equipment side of things. Our platform has been able to help streamline the workflow process and help save our customers time, money and effort spent in the software on a day-to-day basis.

How did Nymbl Systems come to be?

Nymbl was started by accident. I really wasn’t looking to create Nymbl at first. I graduated from the University of Kentucky in 2012 with a degree in biology. I was a medical school at the time and it was the first year the Affordable Care Act/ ObamaCare was rolling out. A lot of the physicians I was shadowing and working with didn’t know how it would change their life. Everyone was worried they were going to work twice the hours at half the salary and where student debt is, it wasn’t the best career path at the time. I ended up taking a year off and worked in IT.

I was helping set up printers, phones, network admin, and things like that. We were contracted out to some small- and medium-sized healthcare groups in Kentucky. One of them happened to be in the orthotics and prosthetics space and they asked me to look into some new software for them. I spent about six months doing diligence and looking at a lot of different platforms out there and nothing could actually fit this industry’s needs. One night I was talking to the owner and jokingly said, “How about I start our own software company?” He had opened his clinic with our first investor and introduced us to his network. That was how Nymbl was founded.

How long did you spend building it prior to launch?

We started building Nymbl in mid-2016, and then we had our first paying customer in June 2018. Now we’re in over 700 clinics across the US and a few different countries including Canada, Malaysia, and some others. We’re hoping to continue doubling our clinic size over the next couple of years.

What’s been one of the biggest challenges you’ve had to overcome?

The biggest challenge I’ve faced — and one a lot of non-technical founders are going to face — is starting the development of the product. At first, I designed the user interface and the workflow but I had no idea how to code and do all of the technical things. We had a little bit of cash, but finding the right CTO took a long time and finding the right sort of development group to help do that early legwork was difficult as well. We went offshore with it and that didn’t work out. We brought it onshore and it kind of worked out, but where we really took off is when we brought all of the development in-house.

What’s one of the best things you’ve done for the company?

I would say the best thing was finding the right investors. That really helped early on. We have two major investors who believed in us and the product so far that whenever we hit any challenges or roadblocks or needed additional growth capital, they were more than willing to help out. It’s been very helpful to find those partners. We’ve been searching diligently for the right partner to come alongside us for this next phase of our growth. Finding a key group for the stage you’re at has been critical.

What brought you to the StartupAZ Collective?

I actually moved to Phoenix about a year ago. I’m from Kentucky and what attracted me to the Phoenix ecosystem was the quality of life. Besides Phoenix, I was looking at up-and-coming tech hubs like Atlanta and Austin. I had a pretty good network when it came down to investor relations and private equity in the south but really nothing on the West Coast. Phoenix seemed like a good area to land. With WebPT and a few other big startups being based out of Arizona, it made a lot of sense. Since jumping in, it’s been super welcoming and very tight-knit.

With StartupAZ specifically, I was looking for a cohort or group of founders to bounce ideas off of, troubleshoot, and go through the trenches with. I’m sure everyone says this, but being a founder can be lonely at times. In Kentucky, a lot of founders in my network I was close to moved away or started something different. We’re really looking forward to the community aspect of StartupAZ.

What advice would you give to other startup founders in Arizona?

For founders specifically in Arizona or Phoenix, I would say StartupAZ has been super helpful. Get plugged in as soon as you can. I know everyone is more than willing to help out with things like introducing you to potential investors, provide deck feedback, or anything to do with your company or team. It’s a great resource to have especially if you’re just starting out.