Sramana Mitra: Let’s switch topics and talk a bit about your financing strategy. I know that you did something recently. Talk me through the whole financial strategy. Nick Mehta: That is a big part of our success too. It’s expensive to create a category. You have to do these events and hire people. The scales
Sramana Mitra: Is there anything else that you want to discuss? Nick Mehta: A second thing is bringing our culture and values, which I think is a bit novel. We feel passionate about that. We brought that into our community. Many of these customer success people feel like they are a part of Gainsight. I
Sramana Mitra: In terms of strategic elements, what were some of the things that you did as you were growing that infused momentum into your journey? Nick Mehta: Momentum is an important point. One thing that we did was this annual conference. We would invite people in the customer success field that included CEOs. With
I spoke with Nick back when Gainsight was very young. Much has happened since. This conversation catches us up on the interim years since 2013. Gainsight recently raised money from Vista Equity at a $1.1 billion valuation.
Ben Hodson: What we realized is that customers coming to us were for customization and choice. Because we’d built the software to be so customizable with all these integrations, we now had a full product solution that we could start scaling. We saw tremendous growth in 2018. We did over 100% in our growth. In
Ben Hodson: By the end of 2013, we were in a position where these guys would say, “Hey, we would pay for this. This is better than a lot of stuff out in the market.” We decided to take the money that we earned on our latest project RepeatSys. We had about $50,000 each. We
Sramana Mitra: What period of time did you do that mode of existence of doing consulting to pay down your debt? Ben Hodson: That was from about 2008 to 2012. During that time, I started a bunch of smaller companies that tried different things, but I made most of my money off of consulting. None
Sramana Mitra: That means that you now had to work with customer who had physical locations. Tom Coburn: No, a lot of these were still digital brands. A lot of our customers do have physical locations too, but these were digital experiences you could do no matter where you were. Sramana Mitra: What did that