From a Single Desk to a $5M Valuation

FROM A SINGLE DESK TO A $5M VALUATION

By Clint Stoker

Rick Hernandez remembers the early days of his startup vividly — long hours, cold calls, and a single desk at The Mill, SLCC's business incubator, where he worked tirelessly to bring his vision to life.

Now, as the CEO of Social Good Software, Hernandez is celebrating a major milestone: securing a $250,000 investment from Morgan Stanley’s Inclusive & Sustainable Ventures Lab, a move that marks the next phase of his journey. What started as a small idea in a shared workspace has since grown into a multimillion-dollar company, proving that persistence and purpose can turn a simple concept into something remarkable.

I did a lot of cold calling, mailed out hundreds of prospect packages. It was scrappy, but it worked.

Born in Mexico and raised with a deep appreciation for perseverance, Hernandez’s journey to success has been anything but conventional. His passion for technology led him to Salt Lake

Community College, where he earned a degree in computer science before working at the University of Utah. While there, he saw a gap in the nonprofit sector — museums, aquariums, and cultural institutions struggled with outdated membership and ticketing systems.

Hernandez knew he could create something better. In 2019, he founded Social Good Software, an SaaS platform designed to make museums more sustainable by replacing paper tickets, plastic membership cards, and printed magazines with digital alternatives.

It was a promising idea, but as any entrepreneur knows, ideas alone don’t build businesses, and the early days of Social Good Software were a test of endurance. Hernandez returned to SLCC, where The Mill provided him with an affordable workspace and a community of motivated, like-minded founders.

“The marketing strategy was definitely guerrilla at first,” he recalls. “I did a lot of cold calling, mailed out hundreds of prospect packages. It was scrappy, but it worked.”

His team grew, his client base expanded, and his reputation as an impact entrepreneur solidified.

Now, with Morgan Stanley’s investment and validation, Hernandez is preparing for the next phase of growth. He was selected from over 7,000 applicants nationwide to participate in the firm’s accelerator program, one of only two winners from Utah. The $250,000 investment, in exchange for a 5% equity stake, values Social Good Software at $5 million — a number Hernandez plans to multiply.