Rick Hernandez, CEO of Social Good Software, secured $250,000 from Morgan Stanley’s accelerator program, boosting his company’s growth. His mission-driven SaaS platform helps museums become more sustainable.
Rick Hernandez, Founder and CEO of Social Good Software, recently won the Morgan Stanley Inclusive & Sustainable Ventures Lab pitch competition, securing $250,000 in exchange for 5% equity—valuing his company at $5 million. This win not only provides funding to accelerate growth but also positions Morgan Stanley as an investor, significantly increasing the company’s future acquisition potential.
Hernandez was selected from over 7,000 applicants nationwide, including more than 250 from Utah, to compete for a place in Morgan Stanley’s six-week, in-house accelerator program in New York. He emerged as one of just two winners from Utah. The program offers entrepreneurs of technology-driven startups access to capital, mentorship, and an exclusive network of investors poised to scale high-growth companies.
“Winning this competition is more than just about the money—it’s about what comes next,” said Hernandez. “Morgan Stanley’s investment gives us credibility and opens doors that weren’t available before. This is the start of a new phase for Social Good Software.”
Social Good Software helps museums become more sustainable by replacing paper tickets, plastic membership cards, and printed magazines with fully digital alternatives. This shift reduces waste, cuts down on shipping emissions, and saves over 1,800 trees and 4.2 metric tons of plastic annually. On the social side, the company helps museums improve member engagement through automated digital renewals and accessible content.
From Bootstrapping to a Multi-Million Dollar Valuation
Hernandez’s journey to success has been anything but conventional. Born in Mexico, he faced challenges in his youth, including losing a close friend to gang violence—a turning point that motivated him to change his life. Determined to build a better future, he pursued a computer science degree at Salt Lake Community College, later working at the University of Utah while refining his entrepreneurial vision.
In 2015, he launched Salty Slopes LLC, experimenting with technology solutions for nonprofit organizations. By 2019, he had pivoted to focus on Social Good Software, a SaaS platform that streamlines operations for museums, aquariums, zoos, and gardens. His product quickly gained traction, serving major cultural institutions from MoAD in San Francisco to the Neue Galerie in New York.
But success didn’t come easy. Hernandez started his journey at The Mill, Salt Lake Community College’s small business incubator, working from a single desk with nothing but an idea and determination. He spent hours making cold calls, mailing out prospect packages, and handling every aspect of the business himself.
“Building a company isn’t just about creating something cool—it’s about doing the ugly work,” he admitted. Through perseverance and strategic growth, he steadily expanded Social Good Software, gaining customers, hiring his first employees, and refining his business model. In 2022, he took his company to the next level by completing the Goldman Sachs 10,000 Small Businesses program, sharpening his financial strategy and preparing for future scaling.
The Next Chapter: Scaling to a $50M Valuation
Hernandez has ambitious plans for the future. His goal is to grow Social Good Software to a $50 million valuation and partner with larger players in the industry.
“Ultimately, my goal is to partner with larger players,” he said. “To do that, I need to scale, and this investment will help us get there.”
The $250,000 investment will enable Social Good Software to launch an additional service, significantly increasing revenue and expanding its impact within the nonprofit sector.
A Success Story from Salt Lake Community College
A former SLCC student, Hernandez’s win highlights the resources available at The Mill at SLCC, which played a key role in his early success.
"Rick Hernandez embodies the pure spirit of entrepreneurship," said Jon Beutler, Director of The Mill Entrepreneurship Center. "With unwavering tenacity and determination, Rick transformed a simple idea into a thriving business. His ability to leverage the right support system and continuously learn and adapt has been key to building something remarkable."
With Morgan Stanley’s backing, a rapidly expanding customer base, and a bold growth strategy, Hernandez is no longer just building a business—he’s shaping the future of sustainability in the museum sector.
