I first spoke with William for our Entrepreneur Journeys series in March 2015. This is a follow-up discussion on the company’s progress and extensive impact by harnessing data from a hundred different sources to help pharmaceutical companies across various use cases. Excellent insights! Sramana Mitra: Let’s start by catching up a bit. We spoke sometime
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: What year does that bring us up to? William King: I left London at the end of 2008. It was great to learn about business, marketing, and management. The other thing that I’ve always been interested in is the world of technology, given all the devices that we have. The thing that really
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,
Continuing on our theme of ‘Bootstrap First, Raise Money Later’, here’s William King’s story of building a robust company in the healthcare industry, now funded by Kleiner Perkins. Sramana Mitra: Let’s start at the very beginning of your story. Where are you from? Where were you born, raised, and in what kind of circumstances? William