Sramana Mitra: You raised $15 million in this round? William King: Yes. Sramana Mitra: That’s all the financing that you have raised so far? William King: Correct. Sramana Mitra: Tell me a bit about how you framed TAM for your business. What is the TAM model that you’ve been using? William King: I’ll just give
Sramana Mitra: This, by the way, is also a trend. For the longest time, the buyers of IT were IT departments of corporations. Today and going forward, the buyers are much more going to be the business users. The marketing department, for instance, is becoming a huge buyer of IT and other departments as well.
Sramana Mitra: That’s the beauty of this bootstrap first, raise money later model. You’re going out to raise from a position of strength as opposed to weakness. You’re not begging for money. You’re in the negotiating position. In any given time in the market, there is more money chasing fundable deals than fundable solid deals
Sramana Mitra: What was the customer segment that you were going after and what was the pain point that you were solving for them? William King: We’re a technology company first that is focused foremost on life sciences. Simply put, we wrangle this universe of Big Data and put it to use for pharmaceutical companies. What
Sramana Mitra: Tell me a bit about where exactly in the chronology of the industry you were coming out of college? What did you do at that point? William King: I finished school in 2002. It’s an international business degree. Sramana Mitra: Where were you geographically at that point? William King: I was in Denver,
Billions of dollars are spent annually on avoidable hospital readmissions mainly for the chronically ill and elderly patients. This is primarily due to poorly managed transitional home care services. Ankota aims to remove this pain point through its software for managing care delivery for home care agencies.
Sramana Mitra: They allowed you to publish the results as well? Morris Miller: They actually published it in the journal of Infection Control and Hospital Epidemiology. It’s called ICHE. It was very well received and passed peer review. In March of 2011, when we really could begin selling in earnest, we had our prototypes. We sold
Sramana Mitra: Tell me what you think about industry movements, trends, and open problems. Torben Nielsen: One of the things that I see as a major opportunity is that we, as a company, work very closely with health plans in providing that shopping experience. You can see treatment cost. You can see your benefit levels and