Medical Design Support is an emerging field in its early stages of technology adoption. This conversation looks at how the field is evolving.
Sramana Mitra: Let’s start by giving our audience a bit of background about yourself as well as VisualDx.>>>
Big data player Splunk (NASDAQ: SPLK) continues to focus on its cloud bets. But the company is failing to deliver in the shorter term. It recently announced its second quarter results which failed to meet market expectations. Its outlook fell short as well, but its cloud metrics continue to impress the market.>>>
Sramana Mitra: Why did Matt join your company?
Diego Gomes: We were growing and delivering good results with marketing our products. Our product was evolving and was generating leads, but we were struggling with learning sales. Our founders and the whole team was not familiar in that area.>>>
Sramana Mitra: Perhaps we should work together to some extent, this is very aligned to what I do. I can understand why you guys approached us to be featured. Is there anything else that you want to add to what you have shared so far?
Joe Silver: A couple of additional interesting things about our company, I would say we are international now. We launched recently in Canada and closed our first loan there. This is a big step in the right direction for us.>>>
The rising remote working trend is translating to an increased need for stronger security globally. Security players like Palo Alto Networks (NYSE:PANW) are benefitting from this transition as was evident in its quarterly performance. The company continues to acquire even in the current climate.>>>
Sramana Mitra: The first year revenue was $800,000, and then how did that grow?
Diego Gomes: It started at $800,000, then it grew to $1.3 million to $2 million to $8 million. I would say between the year we grew our revenues from $2 million to $8 million was when we accelerated the most. We also started targeting outside of Brazil at that time.>>>
Some audience questions answered by Sramana:
– What are the best bootstrapping techniques?
– What is your opinion of “failing is not bad?” It’s a way to learn for entrepreneurs.
– Why do you advise entrepreneurs not to raise funding at the early stages of business development?
– How can I get feedback from you on my venture?
Sramana Mitra: How does that split out of the 700 investments you’ve made? How many follow the route of going on to venture capital? How many continue to bootstrap? Is there any other nuance to it?
Joe Silver: Of the companies that have exited our portfolio, which is about 15%, it’s split down the middle. Roughly half of them have been acquired or raised for their equity and another half may have refinanced with us with other debt or paid off with organic cash flow.>>>