Sramana Mitra: What else have you done that is an interesting strategic move, whether it’s accelerators or inflection points in your business? Patrick Quinlan: You always learn from your failures more than your successes. The beginning of 2013 was really solid. We were able to raise capital from Sapphire. We had a go-to market plan.
Patrick Sullivan: I worked in sales at Xerox. They have a world-class sales program. At the end of the day, I learned a ton about the business side. You get quite an education on how companies are built. You work with so many companies that you start to see how companies operate. I did that
Sramana Mitra: What happens in 2012? Patrick Quinlan: Going all the way back to Delta and to Rivet, there was this trend of finding something that existed. It didn’t need momentum. We were very good at extending at. We wanted to find a company where there’s no majority shareholder, but had a huge addressable market.
Here’s yet another great case study of a successful bootstrapping whereby the entrepreneurs developed a solid product business eventually. Sramana Mitra: Let’s start at the very beginning of your personal journey. Where are you from? Where were you born, raised, and in what kind of background? Patrick Sullivan: I was born in California. I eventually
Sramana Mitra: You also need the direct to get the reference customers before you can get the channel to accept to sell you. Patrick Quinlan: I don’t agree with that one. None of the customers were turning on. The customers were paying us. This was late 2009. Nobody had to file till 2010. What I
Sramana Mitra: Wonderful capital-efficient entrepreneurship. Where do you want to go from here? Ike Kavas: We’re in the final stages of Series A. I’d like Ephesoft to remain a technology company and keep innovating. In 2013, we came up with a web service API. It brought new ways of thinking around what we do for
Sramana Mitra: What was it about your background that gave you any affinity towards that industry? Patrick Quinlan: I wish I had a great answer to that, but I don’t. I love to eat out with my wife. We have a very funny way of going out to dinner. We get in a car. We
Sramana Mitra: What happens in 2012? Ike Kavas: We got a few more sales people. We continue to expand in every location in America. If I remember correctly, our revenues went up to $550,000 that year. From there, we went to $1.1 million. The next year, it was $2.4 million. Sramana Mitra: So $2.4 million