Building a second startup poses big questions for any founder. Do you stick to the same sector? Hit the same investors? Partner with the same co-founder? Allen Kramer and Alfred Johnson founded their first company, a volunteer mobilization platform called Mobilize, in 2017. After they sold it in 2020, they decided to stick together for a second round and see where it took them. The result? Crux – another mission-driven company, this time designed to catalyze investment in green energy. In this episode of the Further, Faster Podcast, Crux COO Allen speaks with Antler partner Jeff Becker about their whirlwind journey so far, and the secret to second-time founder success. 

Crux is a company that has hit the right idea at the right time. Its launch followed the Inflation Reduction Act, major US legislation designed to drive the green transition through tax credits for renewables – and Crux provided the capital platform to help businesses, investors and financial institutions participate in the movement. The startup quickly picked up backing from some major players, with investors like Andreessen Horowitz and Lowercarbon Capital jumping on board. But rather than a lightbulb moment, Allen tells Jeff that the inception process was a slow and thoughtful one.

“We spent four or five months digging through a bunch of different ideas,” says Allen. “We talked to probably 2-300 different people, pressure testing lots of different ideas, getting feedback on early iterations of what we were thinking about building, and understanding market dynamics. It was only when we found something that we felt some degree of conviction for that we really hit go.”

The idea for Crux came from the pair knowing their strengths. That, and good timing. “We understand financial markets. We understand business. We understand startups. We understand software,” says Allen. “And so we were iterating on a lot of different ideas around that space…and then the passage of the Inflation Reduction Act created a very clear window into applying that sort of background and skill sets.”

Even once they’d pinpointed the idea they took it slow. As Jeff points out, the ascent of tools like Lovable makes it instinctive for founders to want to dive into building as soon as they land on a concept, but Allen and Alfred were more disciplined, holding off from the build for a further year. Sure, says Allen, there was this “Cambrian explosion” with the market going through all these shifts, but for Crux to really hit home, they needed to wait for the results of the new legislation to settle. They timed it right, and now…Crux is making a mark. 

To hear more about the importance of discipline when building; how to grow a startup in a fast-changing macro environment; and why it’s important to craft a meaningful company culture, listen to the full episode here.

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