Nick Mehta is the CEO of Gainsight, a B2B company that offers customer success management for SaaS companies with a goal of reducing churn. Prior to Gainsight, Nick was the CEO of leading SaaS e-discovery provider LiveOffice through its acquisition by Symantec. Prior to that was a vice president at VERITAS Software and Symantec Corporation.
Sramana Mitra: I like the manner in which you are thinking, and it would be good to get additional revenue streams. I would not let go of the subscription revenue stream by any stretch of the imagination. What is the TAM for the subscription business? San Banerjee: There are 4 lakh apartment complexes, and each
Sramana Mitra: Let’s talk about funding. When did you receive your funding and what preceded your decision to raise funding? San Banerjee: From the very beginning, we have sought out people who could serve as advisors for us. One of our earliest advisors was Sharad Sharma. We also had Manish Singhal, who we met through
Sramana Mitra: Who runs your Bangalore office? San Banerjee: Ashika runs that office. When we relocated to Mumbai, we knew that our Bangalore office would fall apart unless somebody was running it. We promoted here and she is now our COO. She stabilized that office.
Sramana Mitra: How did your business ramp the following year? How many customers did you end up with by the end of 2010? San Banerjee: We had around 110 customers at that point. We made around 17 lakhs that year. By the middle of 2011, Venkat and I started drawing a salary. We also noticed
Sramana Mitra: In 2009 was it still just you and Venkat working on building the company, or had you started hiring people yet? San Banerjee: In 2009 my neighbor, Ashika Sripathi, was just getting back to our career after having a child. She had a background in sales. We had a good discussion on our
Sramana Mitra: What property management function was the most important to automate? San Banerjee: We learned very early on that the accounting was a very important aspect. Neighbors were not comfortable telling each other to pay their maintenance fees. They would rather have a system that automatically reminds everyone to pay and informs them of
Sramana Mitra: You had established your company and sold to your first customer by the beginning of 2009. Venkat was on sabbatical from his job. Did you keep working full time? San Banerjee: I worked at SAP when we moved to India and stayed there through almost all of 2009. It was interesting for a