Sramana Mitra: How much of this industry do you think has a solution?
Amit Jain: I’ll put it this way. Our enterprise customers also grow by acquisition. There are also inherent technical debts as well. It’s a herculean task for these companies to have a uniform technology strategy. Maybe 10 different ERP and homegrown field services.
A lot of these companies have a solution in place. Typically, the smaller ones have paper and pencil solutions and a lot of homegrown IT solutions as well. The point is how and when they’ll evolve into solutions such as ServiceMax. We think that there are enough proof points in the market from an ROI perspective for these companies to go in more aggressively now versus five to seven years ago.
>>>Anirudh Damani is the Managing Partner at Artha Venture Fund. We have a terrific discussion on the Indian Startup Ecosystem and its trends.
Sramana Mitra: Let’s get you acquainted with the audience. Tell us a bit about Artha and your background.
Anirudh Damani: I have had a very interesting journey to becoming a venture capitalist. I started out as a door-to-door salesman in Texas. During my first seven months at the job, I knocked on a hundred doors a day. I was responsible for selling long-term energy power contracts to homeowners in West Texas.
>>>If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.
From setting up a printing machine in the dining room to $23 million in revenue when we spoke in 2016, RushOrderTees Co-founder CEO Michael Nemeroff’s journey is one of steady, diligent execution.
Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were your born, raised, and in what kind of background?
Michael Nemeroff: I was born and raised right outside Philadelphia. That’s where I’ve lived my whole life. It all started in high school. My parents were entrepreneurs. They owned a clothing line. It’s a lot different from what we do today.
According to a recent report, the global endpoint security market is expected to grow at 12% CAGR from $14.63 billion in 2021 to $28.29 billion by 2027. Leading player CrowdStrike (NASDAQ: CRWD) recently announced stellar quarterly results as it continues to acquire in the space.
>>>Sramana Mitra: I’m seeing it everywhere right now. The investors are talking about it. They want to see vertical cloud products. Your insights are very timely. What are the open problems from where you sit? ServiceMax has achieved quite a bit of scale. What is your current ARR?
Amit Jain: We’re over $150 million ARR.
Sramana Mitra: I haven’t followed the recent state of the company. Are you public?
>>>This feature from Crunchbase News looks at how startups that quickly rise to unicorn status, especially in sectors like scooters and instant grocery delivery, don’t sustain their high valuations. For this week’s posts, click on the paragraph links.
>>>Sramana Mitra: Have Zendesk and Freshworks put in field services or are they integrating with other field service solutions?
Amit Jain: I don’t know of a solution from Zendesk and Freshworks specifically. The customer profile for them tends to be more mid-market versus our enterprise focus. We don’t have specific integrations into those systems.
Sramana Mitra: Your primary source of a help desk solution is all Salesforce-based?
>>>Heather Hiles is Founder and Managing Partner at Imminent Equity, and a pioneering entrepreneur in the Black community. Heather also has deep experience in financing Black entrepreneurs, as well as on the education side to close knowledge gaps at scale.
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