Sramana Mitra: So about 2008, you were done with HP?
Terry Ryan: That’s when I started the current business I’m running. I had successful exits in the 90s with companies in which I was an early employee but I wasn’t a founder of those companies. I had some nice exits in three or four cases before I started Knightsbridge. Fast forward to 2008, I sat down with HP management and said, “I think if I point my guns in one direction for the next decade, I can move this battleship and make a difference. At the same time, I think I can make a bigger difference going out and building my next company.” I politely gave them all the time they wanted. I decided I was going to take six months off and think real hard about what I wanted to do next. I wanted to build on what we did in the Knightsbridge days, which was build world-class data warehouses that solved business problems. I wanted to take the next step, which was not only to do that, but also to own and build the software and solution set that provided great business value for the clients.
Urban Compass is trying to disrupt the real estate industry with a tech-savvy brokerage model. They have raised $70 million and are currently valued at $360 million based on the last funding round. Listen to Robert Reffkin explain why he thinks the company will dominate the industry.
Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born and raised, and in what kind of background?
Robert Reffkin: I’m from Berkeley, California. My mom is an Israeli and my father was African-American. I grew up in a mixed race household with a single mother. When I was younger, I went to an entrepreneurship program called the National Foundation for Teaching Entrepreneurship. It helped me create a disk jockey business in high school. I was actually a DJ in high school and college, which paid for school. It was the foundation of a lot of the entrepreneurial drive that has carried me since I graduated from college.
Sramana Mitra: Your primary go-to-market strategy is an OEM strategy?
Coby Sella: Yes. Our goal is to deploy as many clients as possible. Our footprint in the industry today is about a quarter of a billion devices using Sansa technology, whether it is Sansa providing platform security capabilities or Sansa delivering embedded software within the trusted environment. We already have a very nice base on which we deploy our clients. >>>
Sramana Mitra: In that case, the software that you are delivering goes as embedded systems?
Coby Sella: Sansa’s solution actually requires implementation of clients. These clients will be embedded within the SOC. We are relying on the SOC’s platform security. This could be a piece of software in a secure environment. For the sake of fast adoption, we’re actually starting with software on existing devices. The counterpart of that would be >>>
Abraham Gutman: Another level of quality analysis that we do is on the meta data in the images. You know how JPEGs have some meta data. It has a little bit of GPS stuff. In a JPEG, you may have a few dozen meta tags, so to speak. In a medical image, you have several thousand meta tags. The equivalent of aperture and so forth but multiplied by a thousand. Those things are very well-defined in the imaging charter because you need consistency, step by step, as they are being sent. Otherwise, you may introduce noise into data that is already pretty fuzzy to figure out whether a drug is working. We are now able to check all of these things around these images prior to the images being sent, which reduces the number of queries by over 75% in imaging trials.
Sramana Mitra; It sounds like that’s where you’ve done a huge amount of innovation and thinking to really optimize the process of pre-sending.
Coby Sella: Alternatively, if the management company changes within a certain set of years, this mechanism will be applicable and replace the entity with another one. The solution itself has the flexibility to rely on these devices and to delegate the provisioning technology from one entity to the next one up the chain, which is a relatively innovative concept.
Sramana Mitra: What about on the facilities side? What specifically is happening? We just recently did a story on an energy sensor and energy management and optimization IoT company. I know that space is very active. What kind of adoption are you seeing there?
Coby Sella: One interesting adoption that we see is in the use case of connectivity chip sets. >>>
Sramana Mitra: What part of that map are you playing in?
Coby Sella: The most important part that Sansa is contributing to is the challenges around provisioning of secrets and assets into devices. Being the industry veterans for the last 15 years, we’ve been injecting assets and provisioning secrets across a wide range of devices for quite a while. We think that this challenge is not addressed in a holistic enough manner. It’s certainly not in the use case of diversified IoT scenery and certainly not in a way that will be service-oriented. That’s really the essence of our innovative technology. On top of it, we can create applications and layers of functionality. This infrastructure, by itself, is what we’ve singled out as the most important technology that needs to >>>
Abraham Gutman: We needed to figure out a way of using our infrastructure. It was the same infrastructure as for the eBay of radiology, but I needed to have a way of enabling people to send these images using just a software front-end. There were a number of things that you needed to be able to do. One of them was being able to de-identify the images because unlike care environment where it’s very important that a patient record always has the patient name, it is exactly the opposite in clinical trials. Any subject record should not have the patient name because these are blind trials. So, we developed a front-end and we released it on October 31, 2008. I always remember that date because it was Halloween.
Again, luck struck because as we had been developing this, a pharmaceutical company called Glaxo Smith Kline somehow heard about what we were doing. >>>