Sramana Mitra: At what point did you bring in the first financing? Walk me through the financing history of the company. Sai Gundavelli: As I was building the company, I was also looking for funds, but I didn’t want to go through the VC route. One of my good friends heard the story and he introduced
Sramana Mitra: Tell me more about what were the circumstances of starting this new company. Dave Terry: We had a large ERP system for these large law firms. ChromeRiver does expense reporting. We automate the labor-intensive and error-prone workflow process of expense reporting and supplier invoice management. While I was still at Elite, some of
Sramana Mitra: What about your operations team? Part of the people who were executing on these projects were in India? Is that why you raised money from Bangalore? Jaswinder Chadha: Yes. Actually, we raised money before we set up our operations in India. We were one of the companies to do data analytics in India.
Sramana Mitra: What’s the killer app for what you were offering? Where did you find traction in the enterprise? What part of the enterprise was looking for this kind of enhanced search capabilities? Sai Gundavelli: That’s a good question. A lot of enterprises had implemented Oracle applications, using which their data started to grow and their backups
Chrome River is successfully taking on Concur (now SAP) in the expense reporting SaaS space. Find out how. Sramana Mitra: Let’s go to the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of circumstances? Dave Terry: I was born in Texas. I went to school
Sramana Mitra: Let’s double-click on that a bit. You founded marketRx in which year? Jaswinder Chadha: In 2000. Sramana Mitra: You self-financed that project? Jaswinder Chadha: No. The first round of financing was friends and family. We did another round of financing from angel investors. The third round was when we brought in a group
Sramana Mitra: How long did you work for Cisco? When did you finish the Cisco gig? Sai Gundavelli: It was in 1996. I worked there from 1991 through 1996. Sramana Mitra: That was when you started your first company? Sai Gundavelli: That’s right. I started my first company in 1996. Sramana Mitra: Tell me a
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Outsourced analytics services has been a popular category, especially in the US-India mode. Jaswinder has built not one, but two of these businesses. Sramana Mitra: Let’s go to the very beginning of your story. Where are you from? Where were you born, raised, and in what