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corestream
Capital Efficient Entrepreneurship: Neil Vaswani, CEO of Corestream (Part 7)
Sramana Mitra: Besides the roughly $2 million you raised, did you raise any other funding? Neil Vaswani: We had some angel funding throughout the way at different points. Sramana Mitra: What is the total amount of money that you’ve raised? Neil Vaswani: Probably around $3 million or so. Sramana Mitra: What kind of revenue run
Capital Efficient Entrepreneurship: Neil Vaswani, CEO of Corestream (Part 6)
Sramana Mitra: These are large enterprises? Neil Vaswani: All sizes. ADP typically plays in the middle market. The business unit that we’re partnered with has a sweet spot of 1,000 to 10,000, but really, 3,000 to 7,000 is where most of the groups come in. Thus began the next part of our journey – third
Capital Efficient Entrepreneurship: Neil Vaswani, CEO of Corestream (Part 5)
Sramana Mitra: The point at which it makes sense to take a lot more money is if you know that if you put in $10, you’re going to make $100. There are certain companies that figure out the product-market fit and the customer acquisition strategy. If it’s something that will yield a deterministic return on
Capital Efficient Entrepreneurship: Neil Vaswani, CEO of Corestream (Part 4)
Sramana Mitra: How many enterprise clients got you to 75,000 end users? Neil Vaswani: Maybe 10. Sramana Mitra: What kind of average deal sizes were you closing? Neil Vaswani: We had some big ones that were 20,000 to 30,000 employees. On average, it was something like 6,000 to 7,000 employees. We had 75,000 end users
Capital Efficient Entrepreneurship: Neil Vaswani, CEO of Corestream (Part 3)
Sramana Mitra: How did you get it off the ground? You said you raised money right away? Neil Vaswani: Yes. My co-founder and I wrote up a two-page executive summary. We started spamming VCs. We got some calls back. Sramana Mitra: What year was this happening? Neil Vaswani: This is 2005. Not exactly the best
Capital Efficient Entrepreneurship: Neil Vaswani, CEO of Corestream (Part 2)
Sramana Mitra: What year did you start Corestream? Neil Vaswani: In 2005, I realized that there was this inefficiency in the market. Then in 2005, I sought capital. In 2006, we closed capital. In 2008, we went to market. Sramana Mitra: Talk to me a little bit about what was the idea. What prompted Corestream? Neil
Capital Efficient Entrepreneurship: Neil Vaswani, CEO of Corestream (Part 1)
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Neil has turned a $3M investment into a ~$10M annual revenue company by addressing a cumbersome piece of workflow in benefits management. Read on to learn how. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born,
