Sramana Mitra: It was 2012 when you launched the product. How did you do that year? How many customers were you able to bring on in 2012 after the first year of the launch? Mads Jensen: We grew at an accelerating clip from 2012 and until the exit this year. I couldn’t say exactly how
Sramana Mitra: You went to college in Southern California? Ray Grainger: I did. I went to Harvey Mudd. Sramana Mitra: What did you do after that? Ray Grainger: Based on that realization in college that I would pursue a career of applying technology to business, I went to Accenture directly out of college and ended
Sramana Mitra: What was the concept that you were working with while you were pursuing your one-year MBA at INSEAD in the 2008 timeframe? Mads Jensen: Peter Krebs and I had a a lot of experience in software and technology and we both have worked in the construction industry. Peter is a Civil Engineer and
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Ray had started Mavenlink with a certain vision, but had to pivot to find market traction. The pivot was handled skilfully. The original vision remains, and Ray hopes to be able to launch it in the next couple of years. Very good, deliberate execution. Sramana Mitra:
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Mads started working on Sefaira while an MBA student at INSEAD Business School. He went on to launch a sustainable architectural design software product, raised $18 million in funding, and recently exited the company. Read on for more. Sramana Mitra: Let’s start at the very beginning
Robert Hoehn: Just to circle back to the competitive advantage, another one is data. Early on, we took the stance that we don’t want to charge volume-based pricing, which is against the grain for enterprise software. Most people are looking at it and saying, “Enterprise CIOs expect to pay per seat.” We’re afraid that customers
Sramana Mitra: What did you learn in your international expansion? Was there any particular geography that was adopting your technology faster than others? Robert Hoehn: On the marketing side, a lot of people shy away from it just because it’s hard work. It’s already hard to run a marketing campaign with SEO and demand generation.
Sramana Mitra: How many enterprise customers were you able to gather as paying customers to get to this million dollar annual revenue? Robert Hoehn: I think it was about 50 enterprise customers. Sramana Mitra: How were you selling? Were you selling on the phone? How were you going to market? Robert Hoehn: I did it