Thought Leaders in Cyber Security: Thycotic James Legg CEO and Jonathan Cogley (Part 3)

Sramana Mitra: The value proposition is still password management?

Jonathan Cogley: It’s a password vault but it’s really to prevent external or insider threats.

Sramana Mitra: Talk to me about what is the competitive landscape. This is a crowded space. What is the competitive landscape that you see around your product?

Jonathan Cogley: The space is getting crowded because there’s a bunch of people who are a little bit late to the party. Some of the big vendors are coming in. They’re trying to either acquire small startups that aren’t necessarily that successful and throw their weight behind it. One of the reasons we are able to succeed is due to the fact that we are a pure-play vendor. We don’t do anything else. CA is in the space too but they’ve entered recently. It’s much easier to beat them in deals because the customer can quickly see that this is not CA’s core focus whereas Thycotic has been doing this for 12 years. >>>

Long Journey Over 20 Years: Paula Tompkins, CEO of ChannelNet (Part 6)

Sramana Mitra: How did the revenue move from a million dollars in ’87. Where are you now?

Paula Tompkins: We have been through three major downturns. The first in the 1990’s where we had to reinvent ourselves. Then there was the 2001 dot-com collapse where one of my major clients came to me and said, “We need to reduce our spend by 33% in five days.” Literally, I had to lay off hundreds of employees. Then in 2006, three major clients of ours – General Motors, Ford, and Chrysler – got into major trouble. By the time the bankruptcies were done and the dust settled, we were pretty much starting over. I had reinvented the company three times over its history and we are now over $20 million in revenue.

Sramana Mitra: Is there anything else from your journey that you want to share? >>>

Thought Leaders in Cyber Security: Thycotic James Legg CEO and Jonathan Cogley (Part 2)

Sramana Mitra: What was that product that was the beginning of your transition from services to a product company?

Jonathan Cogley: The product’s name is called Secret Server. The simplest way to think about it is, if you think as an individual, all the passwords that you have are so many. They’re difficult to manage. There are some that don’t directly matter to you. We call them non-human passwords. You even have a few examples as a consumer.

If you think about the WiFi router at home, it doesn’t really belong to you but you need to know it and you need to keep it secure. If you think about that router, you need to know the admin password if you want to go in and change the specific settings for your home network. You need to know those credentials. If you roll that out to the IT department in an enterprise, they have those passwords except they are thousands of them. >>>

Long Journey Over 20 Years: Paula Tompkins, CEO of ChannelNet (Part 5)

Sramana Mitra: When you moved to create this platform, what year was it and what was the competitive landscape into which you were coming with this platform?

Paula Tompkins: It was non-existent at that point.

Sramana Mitra: What year was it?

Paula Tompkins: 1999. What you really have to understand is, we have always done the same thing. We’re an enabler. Our job is to help bring a buyer and a seller together through technology. What we’re about is helping a consumer and a business user go online and research. Most of the work we do is in conjunction with sales channels. This is  all about working in an industry where they have a direct sales force, where they have a distribution network, where >>>

Thought Leaders in Financial Technology: Snehal Fulzele, CEO of Cloud Lending (Part 1)

You’ve read our coverage of online lending vendors like Kabbage, OnDeck, Lending Club, etc. Here, we cover a story of how ALL online lending vendors (including banks) will soon become much more customer-centric, equipped with technology for fast decision-making and rapid processing of loan applications. Important trends in the industry. >>>

Thought Leaders in Cyber Security: Thycotic CEO James Legg and Founder Jonathan Cogley (Part 1)

Password management is a nightmare. See how the industry is evolving.

Sramana Mitra: Can one of you give us a background of the company and also please introduce yoruselves?

James Legg: I’m the CEO. Just to give you a background, Jonathan built and founded Thycotic and then decided he wanted some assistance in taking the company from roughly $25 million to $100 million. We’re fairly sizeable. He and I teamed up a year ago. Now we’re growing at a tremendous pace. I brought in several members of my team. This company today is growing at roughly 100% and we’re EBITDA and cash flow positive. We’re extremely profitable.

Sramana Mitra: Where are you located? >>>

Long Journey Over 20 Years: Paula Tompkins, CEO of ChannelNet (Part 4)

Sramana Mitra: What was the sweet sauce in your digital marketing offering?

Paula Tompkins: I like to call it the next best thing to a sales call at a fraction of the cost. If you look at the shopping process for a car, as an example, you want to see how the vehicle looks, you want to read all the specs and features and you want to compare that vehicle to other vehicles. Then you want to find out where to purchase that vehicle, very much like what people do today.

What we did in that case is we replicated that process and put it online so you could see all the features of the vehicle and experience it. For example, one of the clever things we did is you could put your skis through the trunk into the front of the car and then you could place the people in the car. Then the dog would have to get in the car. When you put him in, he would bark. It was like a little game. That was to show the fact that even though it was a small car, it had lots of capacity and you could put a lot of suitcases in it.

We had all the competitive comparisons. We had the lease versus buy calculator. >>>

Connected Medical Devices from France: Visiomed CEO Olivier Hua (Part 3)

Sramana Mitra: Let’s talk about from the point of view of building this company. You said the company started in 2009?

Olivier Hua: The company started in 2007.

Sramana Mitra: At that point, the product was the thermometer?

Olivier Hua: Correct.

Sramana Mitra: How long did the company function in that one product mode and what revenue levels did it reach? >>>