‘People are the hidden force behind any innovation’: Sergey Bunas reflects on the role of networks in startup success
In the fast-paced reality of tech startups, a strong network often determines the difference between success and failure. Recent data from Startup Genome highlights that startups with robust mentor and investor networks are 4.5 times more likely to experience rapid growth than those that operate in isolation. With over $300 billion raised globally by startups in 2023, it’s clear that the strength of these ecosystems is driving unprecedented innovation.
Networking isn’t just about securing funding — it’s about creating an environment where ideas flow freely, resources are shared, and support is readily available during challenges. This principle underpins the success of many of today’s most innovative startups, including those led by Sergey Bunas. As the founder of two AI-driven platforms, Suggesty and Replai, Sergey scaled these businesses by leveraging his entrepreneurial skills and a network of mentors and peers. His story underscores the vital role that collaboration plays in building successful ventures.
Sergey’s participation in Entrepreneur First, a prestigious startup accelerator in London, was a transformative experience that expanded his network and refined his strategic thinking. “Joining Entrepreneur First was the turning point for me,” Sergey explains. “It didn’t create my products, but it gave me the connections and perspective I needed to think bigger and scale more effectively.”
Suggesty, Sergey’s first AI-driven tool, was launched before his involvement with Entrepreneur First. The marketing automation platform was designed to solve a pressing problem: helping businesses enhance their outreach strategies with precision and speed. While the tool itself addressed a critical need, Sergey credits the broader entrepreneurial ecosystem for providing him with the momentum to continue innovating. “The success of a product like Suggesty comes from solving real problems, but the network around you helps amplify your work,” he notes.
Similarly, Replai, an AI-driven platform that automates cold outreach, achieved notable traction with an Annual Recurring Revenue (ARR) of $12,000. Sergey attributes this success to his ability to adapt quickly to market feedback, a skill honed through mentorship and collaboration. “We learned to listen closely to what businesses needed and adjusted our approach accordingly,” Sergey reflects. “The right network doesn’t just support you — it challenges you to think bigger and execute smarter.”
Even as his ventures grew, Sergey continued to rely on the networks he cultivated. From refining Replai’s product-market fit to expanding its user base, the connections he made through Entrepreneur First and other networks were instrumental at every stage. “Scaling isn’t just about resources—it’s about having the right people in your corner,” Sergey emphasizes. “Every major decision was shaped by input from those who had been through similar challenges.”
Looking ahead, Sergey remains committed to fostering connections and supporting others in the tech ecosystem. His journey highlights a broader truth about the industry: while technology might drive innovation, it’s the human connections behind the scenes that enable success. As the startup landscape continues to evolve, Sergey’s story is a reminder that collaboration and networks remain the backbone of entrepreneurial growth.
