Dave Terry: The company had been growing at a really nice growth rate. I think at that point we were in the Inc. 500 list two or three years in a row. We were really funding things out of profits but we had a few investors calling us constantly. We thought that we can keep
If you haven’t already, please study our free Bootstrapping course and the Investor Introductions page. Faisal is one of those rare entrepreneurs who have managed to grow his business with no outside financing to significant scale. We discuss his journey here. Sramana Mitra: Let’s go to the very beginning of your story. Where are you
Sai Gundavelli: We also did two killer partnerships. One is with a company called Kronos and the other one is with EDT. We made them put OEM on our products. They also had a lot of data that they needed to archive. They’re implementing our product in all their customers. We’re getting all the seeding with
Sramana Mitra: Did it give you a sense of how much they were willing to buy it for if you built it? Dave Terry: Absolutely. We established the price and had agreement on everything. Sramana Mitra: What was that price that they agreed to buy it at? Dave Terry: We probably shouldn’t get into those
Sramana Mitra: This is a US–India model since Helion is involved? Jaswinder Chadha: Yes. Two-thirds are in India and the rest are in the United States. Sramana Mitra: Where in India is your operations? Jaswinder Chadha: In Gurgaon. Sramana Mitra: What else is interesting in the story that you want to share?
Sramana Mitra: Given that was your analysis of the market, how did you get the venture off the ground? Did you raise money? Did you self-finance? Dave Terry: It was just Alan and me. Our prior organization was an all licensed in-house model. We knew we wanted to build this entire organization as a SaaS infrastructure.
Sramana Mitra: What is your model? Do you do services? Do you have products? What’s the business? Jaswinder Chadha: It’s all of the above but we, primarily, view ourselves as a services company. Even software today is a services business. In some ways, we have an advantage in that we came from building products and
Sai Gundavelli: From a technology perspective, I always ask the question, “Why Solix?” Why would any customer buy from us? I focused a lot on that. I focused on engineering. That was the first thing from a technology perspective. We wanted to be a price leader. We’ll make it easy for customers to acquire our solution.