According to a recent report, the global Security and Vulnerability Management Market is projected to grow 6% CAGR to reach $18.7 billion by 2026 from $13.8 billion in 2021. The growth in the industry is attributed to the increased adoption of IoT and cloud trends and integration of advanced technologies such as AI and ML with security and vulnerability management solutions. Maryland-based Tenable (Nasdaq: TENB) recently announced its quarterly results that outpaced market expectations. The company continues to invest heavily on product development to keep ahead in this rapidly evolving market.
>>>Matt Ramme: Another big interest was puzzles and watching Jeopardy. I’ve always been a fan of that. As I got into that, my wife and I would play a lot of crosswords. What I kept finding is that the more I do it, the more I realize there’s a certain subset of trivia data that, if you know, you can get farther into it.
For example, knowing all the states and state capitals, knowing the presidents, and knowing all these lists of data that are well-known. During this time, I was trying to learn more myself. By learning it myself, I was using pieces of paper as flashcards. At that point, I’m like, “It seems like there’s a better way to do this.”
>>>This is a terrific story of a European EdTech venture that has raised $600 million and is scaling extremely well after three years of not finding a monetization model.
Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
>>>Entrepreneurs are invited to the 586th FREE online 1Mby1M Mentoring Roundtable on Thursday, August 18, 2022, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
You can learn more here and REGISTER TO PITCH OR ATTEND HERE. Register and you will receive the recording by email, even if you are unable to attend. Please share with any entrepreneurs in your circle who may be interested. All are welcome!
Zendesk (NYSE: ZEN) has had a tumultuous year so far. The company had backed away from its $4.1 billion Survey Monkey acquisition earlier this year, and rejected a buy-out offer, before finally giving into an offer to be bought out by a private equity firm. After nearly 8 years of going public, the company will go private again by the end of this fiscal year.
>>>Sramana Mitra: What was the thesis of Sporcle?
Matt Ramme: I didn’t know. I had an idea to build a website. I didn’t know what it was going to be. I liked the creation of websites. If you’re familiar with the March Madness Bracket for collegiate basketball where millions of people do it every year. They try to predict all the way out to the end. I thought that was an interesting idea, but it would be cool if I could do it for other sports or other leagues. I built a product that allowed people to predict other sports.
>>>Sramana Mitra: I’m more curious about financial engineering. You have Y Combinator which takes certain equity and gives you a certain amount of cash. After YC, you said you raised a seed round. Then you raised seed extension. As what? Safes, convertible notes, equity financing?
Carl Memnon: We raised primarily on YC safes.
Sramana Mitra: $15 million on safe?
Carl Memnon: Yes.
>>>San Mateo-based Freshworks (Nasdaq: FRSH) continues to grow rapidly as it expands its CRM offerings. The company remains focused on product innovation and continues to offer integrations to drive its product adoption.
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