IdeaPaint Lets You Think Bigger

A single-coat, roller-applied paint that turns smooth surfaces into dry-erase writing surfaces giving users the space they need to collaborate and interact. This is IdeaPaint, an innovative product that is thought to create dynamic environments within corporate, educational and home environments.

The original idea behind the paint is that “when you’re confined to the space of a typical whiteboard, your ideas are destined to be small”.

For example, at a business level, IdeaPaint allows corporate users to create a place to share information with customers, coworkers or clients, by turning smooth surfaces (including desks, doors, walls, hallways, columns, conference tables, reception areas/lobbies, seminar rooms, cafeterias and cafes old whiteboards) into interactive workspaces.

At school, the paint can be used by teachers to turn any space (old whiteboards and chalkboards, walls, desks, lecture halls) into a complete learning environment.

At home, parents can transform kids’ spaces (bedroom, playroom, tables, doors), into a place to explore and express their imagination. Users can also use IdeaPaint to keep track of appointments, tasks, and important dates.

IdeaPaint™ is available in two versions:

– IdeaPaint™ PRO, a solvent-based urethane coating;

– IdeaPaint™ CRE-8, a water-borne paint (watch the company’s installation video).

Both products are available in 50 sq. ft. kits with a roller, stir stick, can opener and wet paint sign. They are formaldehyde-free, conform to all U.S. EPA regulations and do not produce any harmful gas, once they’re dry.

The company ships to customers in the United States, Mexico and Canada, via its web site. In other countries, customers can buy IdeaPaint through international distributors in Europe, Australia, India, Singapore, and Malaysia. To see the list of distributors, click here.

IdeaPaint was founded in 2002 by John Goscha, while he was still a student at Babson College. After years of product development, Mr. Goscha invited two of his former Babson classmates, Jeff Avallon and Morgen Newman, to join him as co-founders. Mr. Avallon joined the company in late 2006 and Newman in early 2007. In 2008, IdeaPaint launched its products on the market.

After two angel rounds, Goscha led the company through its initial institutional financing of $5m that closed in August 2008 with Breakaway Ventures. In 2009, he left his senior management role but continued as a consultant into 2010. He currently is a significant stockholder in IdeaPaint while Avallon and Newman are still part of the team.

In March 2010, the company raised $3.3m in its second round of venture financing.

Currently led by President Bob Munroe, IdeaPaint is headquartered in Ashland, MA.

E.C./FinSMEs

03/01/2011