Sramana: Selling the first few instances of a new product is vastly different than building a sales organization that the market has validated and accepted. Could you talk about what is unique about the early sales process? You don’t have reference accounts, you are selling a new concept. What have you learned over the years?
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Chris Cabrera is the founder and CEO of Xactly, a leading incentive compensation management software suite for companies of any size. He has more than two decades of successful senior management experience at both early-stage and public companies and has managed sales, marketing, operations and business
Sramana: Are your investors all Eugene based? Jake Weatherly: Most of them are; however, we do have an investor from the Los Angeles area, and one in far eastern Oregon. Sramana: What is the entrepreneurship community like in Eugene? Jake Weatherly: It is an area that is near and dear to my heart. This is
Sramana: I have been noticing a trend lately. Companies are building very sizable revenue with small teams. The ideal example of this is FineArtAmerica which, when I spoke with them, they were doing $5 million dollars a year with three people. He had all sorts of outsourcing. You have 16 employees and are approaching $5
Sramana: Your TAM is essentially tied to the number of transactions you can process. You really needed to get a handle on the volume of transactions going through your system. What did you define your TAM after this reality emerged? Jake Weatherly: We look at all of our segments somewhat uniquely. We also look at
Sramana: What was the reason you were making pitches? Were you trying to raise capital? Jake Weatherly: We were pitching for practice in the beginning, but it was warming up to raise capital. In our first round we raised just over 1 million dollars and just over 1.5 million dollars in the second round. Both
Sramana: When you set out to deliver an eligibility verification service and technology, did you have specific questions that you wanted to frame the capability around? Jake Weatherly: One of the things that we uncovered in the early stages in terms of personally identifiable information, where security is a huge concern, is the need to
Sramana: What years were you at WebEx? Jake Weatherly: I was there from 2005 to 2006. I was there when the company was preparing for an acquisition. It was a fantastic experience and I was fortunate enough to be there during the acquisition. I stayed there for a quarter after the acquisition before I was