Sramana Mitra: That’s not necessarily the only kind of companies that VCs back. VCs also back enterprise software that delivers that kind of growth. In fact, I would say the IT industry’s bread and butter success have been from enterprise software – not from consumer software. Eric Burns: I guess the thing that may have
Sramana Mitra: In terms of other vendors that you compete with, whom do you see in deals? Eric Burns: Initially, we were quite afraid of what seemed like the incumbent player in the lecture capture market in the higher education, which is a company called Tegrity. I think it’s safe to say that we badly
Sramana Mitra: So roughly speaking, it is end of 2007. How much venture capital did you raise at that point and how long did it take you to get the first product out of the door? Eric Burns: We had an extreme advantage here, which is that we have the opportunity to research that market