Ideapaint is a dry-erase paint that turns any surface into an erasable canvas.
Headquartered in Boston, MA, IdeaPaint was founded by three students at Babson College — John Goscha, Jeff Avallon, and Morgen Newman — who came up with the idea when they found themselves unable to afford whiteboards for their brainstorming sessions. IdeaPaint is a patented paint product that can turn any smooth surface into a high-performance dry-erase workspace, allowing for limitless creativity and free-thinking. Among other places, the product is in use at Google, Apple, Microsoft, Harvard, Stanford, and MIT. IdeaPaint is currently sold nationwide at Lowe’s, direct on its website, through commercial distributors such as Sherwin-Williams, and through other distributors worldwide. IdeaPaint can be found in select stores and online at www.ideapaint.com
Ideapaint truly had a breakthrough product with proprietary technology — a better and more cost-effective alternative to traditional whiteboards. With product adoption at prominent institutions such as Google, MIT and Microsoft, Ideapaint had the opportunity to achieve rapid growth but needed to increase its distribution channels, improve product innovation and strengthen its internal team.
The Partnership with FCP
With a continued emphasis on innovation and product enhancement, Fireman Capital Partners brought on strategic advisors and senior management to enhance the Ideapaint team, focused the distribution strategy, and helped right-size the cost structure in certain areas to provide further fuel for growth.