Episode Transcript
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You were listening to bb revenue acceleration, a podcast dedicated helping software executive stay
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on the cutting edge of sales and
marketing in their industry. Let's get into
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the show him. Welcome to be
to be a review acceleration. My name
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is alliums and I'm yet they with
Offen Shreebo from why a venture. How
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are you today? I'm great.
Thank you for having me. That's a
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pleasure. So today we will be
talking about the states of east, trends
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cyber securities market before we going to
the detail. And you please tell us
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a little bit more about yourself,
your company, why, your venture and
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your rule within way your venture?
Yeah, absolutely so. My name is
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offen Shaib. I'm a partner in
wild ventures. We are venture capital firm
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with offices in Silicon Valley and Tel
Aviv, Israel, who invest in Israel
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startups in early stage, is set
stage and mostly, mostly in Cyber Security.
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That has been our almost exclusive focus
for the past few years. We've
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been working very closely with all of
the folio companies, providing the value and
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everything they can. We build a
very normous network of potensial customers and partners
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and fall on financing all the strategics
and potential acquirers in the cyber security world
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in the US and we're providing access
to Israel entrepreneurs in early stage to that
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network. Currently investing out of our
third fund at the seventy five million dollar
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fund that we raised in twenty seventeen
from doing extremely well so far. That's
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excellent and black to yet. So
we are also, we do a fair
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amounts of walking the Saber Security Company, of the Sabe of security markets,
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I say, at the paractics,
and we do see more and more trends.
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One more growth coming from the saber
securities market, dis right. So
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we see a lot of Israeli player. Israel started coming into the market and
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actually being quite successful, and I'm
sure you you follow that growth quite closely,
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walking in that industry and working better
capital. So what an interested to
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one er some from your perspects even
and from your perspective of being so crused
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that market and probably speaking to the
people on the day days. Is what
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makes this Reeli Sibo securities market so
strong and walk investing in for companies such
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as way ventures. Yeah, so, first of all, I fully agree
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with what she said. Obviously we
are the venture capital from the focus and
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Israeli investment in summer security. Share
the feeling? No, from if you
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look at the person for all,
Serber security is still a very strong market
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in general, globally very hot.
Space security challenges are just getting more and
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more complex and adversaries, you know, the hacker, getting more and more
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sophisticated. So security is a big
challenge and a big market. And Israel
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in general, as you may know, well calling it a start up nation.
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Israelis is a hard med for innovation
and technology in very wrist fields,
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but now these days, we tend
to call it cybernation, and the basis
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of Israel's dominance in the cybersecurity field, from my perspective, is the IDEF,
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Israeli Defense Force, just the sheer
amount of talented people that coming out
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of the of the ideas and specifically
the intelligence corps, from a lot of
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people are familiar with the unit called
eight two hundred, the equivalent of the
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American a Y, say, and
technological people that served their game real world
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experience to the most cutting edge and
innovative cybersecurity landscape. They deal with the
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hottest technologies and doing really amazing stuff. This is, I would say,
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that this is the best training in
the world to become a cybersecurity expert and
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it's in a very tight and restful
environment. A lot of entrepreneurial DVD is
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are being done in those places and
these people, after they get out of
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the army, they tend to becoming
to produce themselves. They builders, they
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want to do something of their own
and they create their own start up.
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They take their own very unique set
of skills in order to develop the right
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solutions that we solved real problems in
the cybersecurity world. So I think that
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makes not extense. We see God
sent. We have to get at the
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four clients, but telling is the
background of the company on the reason why
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the technology came up close splace,
because they were walking to see security forces
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protection. Process of the development is
right and then the almost spin up the
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solution as to a product that can
then be sold towards a company, the
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company that will we see the sort
of cybers rights as a government or a
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country may have, so that that
mixer. That makes a lot of sense
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in that and I think we are
we do see a lot of the startup
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being created on the basis of always
trying to innovate for, as you say
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the beginning of your of your own
swer to me, innovate in always changing,
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fighting the next trap. So it's
not just doing the commodity, but
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it's also creating industry solution, finding
a new way to fight cyberspread, which
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is which makes a market very interesting. Coming back to an article that you
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published recently intech crunch, on out
the shrining Saber security industry performing to some
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of the eighteen, one of the
staffs that cut my eye was an increase
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of seventy six persons in funding for
emerging tech companies or startups, as these
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growth come from more noticeable innovation.
From your your belief or what are the
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technologies that's received the eyes amounts of
funding and also why? Yeah, so
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this is the fourth year that we
published ter annual report, which is called
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state of the CIBER nation reports.
We're in a very unique position that we
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see, I would say, how
dored percent of every security startups that are
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being founded in Israel and that are
progressing in Israel. So we get a
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lot of data and and we find
some very interesting insights and we published every
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in general, Israel entrepreneurs are known
to be visionaries that's not just in cybersecurity
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but in general and specifically when we
talked about Cybersecurity, I think that is
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relatant. Nurse tend to have the
ability to foresee what we be the biggest
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challenges in the cybersecurity world in the
next few years. And once they do
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that, they come they have the
right skis and the right technological background to
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come up with the right technologies.
And when we and when we look at
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all the new startups that were founded
in Israelian in two thousand and eighteen and
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we and the ones that already got
funded, I would say that there are
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several trends that you can see.
The first is that the world just becoming
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more and more connected and the pace
of innovation, in the pace of adoption
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of new technologies, it just being
increased. Okay, so, as organizations
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adopt new technologies, only a couple
of years later so they started to realize
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that they lack security. So,
for example, until a couple of years
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ago, enterprises were migrating slowly and
slowly to the cloud. Then you saw
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new category of cybersecurity start ups that
are dedicated your cloud environment. And these
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years we see it in Iot.
Okay, there are different categories of Iot,
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of connected devices that are being introduced
to the world. These devices are
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very vulnerable to cybersecurity attacks. So
we saw this year's several categories within Iot
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and got funded and we saw a
lot of evity. And, for example,
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medical devices, we saw several companies
there, and automotive now, connected
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cars and autonomous vehicles to these are
these are the trends that we see.
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More the tax surface is being changed, there are more and more connected devices,
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more and more opportunities for the bad
guys, for say, to attack,
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and this is the right place to
come up with innovative solutions that are
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very adequate to these new lens makes
not expense. So pushing thing to that
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is in no environments that is always
evolving with lots of innovasion coming. You
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mentioned clown. Mention all these things
that are currently happening and reach one more
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comple us. The grounds of moving
to the problem obviously communicate things, but
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how do you guys keep on top
of the stick, buge innovation and make
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sure that, I guess, you
don't invest to earlier to late in a
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specific Verticolo, in specific table solution, right? So you know we're since
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that investors. So invest as early
as possible, literally in two or three
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entrepreneurs with a powerpoint presentation. That's
that's the stage at we come in an
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invest and we rely on several things
when we make those seeds stage investments.
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First of all, we rely on
the strength of the team, the fact
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that we have very good networkork here
in Israel and we are able to understand
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what is the background of each more
where he either served in the military or
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worked in the past few years.
Adding of their background and when we look
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at the field, when we look
at the problem space is that they're aiming
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to solve, that's where we rely
on our network, as as I mentioned
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in the beginning, we have vast
network of US based customers and mostly see
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cells chief information security officers of,
say, Fortune five hundred companies and largest
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brands in the world. And as
part of what the diligence process, we
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always introduce entrepreneurs to send between ten
to fifteen customers, get their feedback and
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really do a very deep market validation
process. And so even if there is
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still no product, just in an
idea and general direction, we can reach
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very high level of certainty that there
is, that did there is a big
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problem and indeed the general direction that
the entrepreneurs are going after solve makes sense
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and customers like it. And now
it's about execution and that's where relax.
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We rely on the on the scales
of the team and of course we partner
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with them and provide them a lot
of value addctivities. So all these introductions
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and go to market support in the
US you cannot from some my next question,
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which is great. My next question
was about how much ends you need
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to be when you when you're invest
with with the sea the seat stage,
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because we know that obviously at the
seat stage you may have fantastic control product
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is being able from testing solution the
good to market can be difficult to you.
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You actually also the question. So
just going to move on to what
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we see into some mateen and the
question will suit question between setting or being
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acquired, those fekeeping the company,
keeping do or building up a legacy,
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if you will. So in two
thousand and eighteen we saw lots of company
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being acquired. Just just to mention, if you and I'm just looking about
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this in the friend market, but
we will have Davor being acquire by my
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bravel, the nine being acquired by
checkpoint sec do ight by wild to,
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just to mention with you, and
I believe that from not from Prono,
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your conspective, if there is a
constant dinama between shock, the meetter long
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term makes it or building up legacy
company. So I guess what I'm saying
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is that what you do? You
build up a technology stopt to exit the
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technology start, or do you will
the technology started in the view that you
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will be very successful and potentially create
your own investment and go and I acquire
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your competitors to take on some more
market share? So lookusher I've got for
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you is what are the science to? I don't sify if a company is
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ready to be stalled or if you
should keep investing in his growth to become
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more established and more present in the
market. Yeah, so this is this
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is an interesting question and of course
it's not. It's not related, just
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a cyber security threaded to any many
start up and any field in general.
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Right, I would say that it's
even more relevant cyber security because this is
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a very ecquiditive market, quas a
lot of men activity and we see that
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largest, large vendors, some of
which you mentioned, are or a bit
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struggling to innovate on their own and
they're very much relying on the cutting edge
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startups of small startups to come up
with the next big things, the next
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the next generation solutions and bed bed
these companies within a much broader platform.
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So you kind of mentioned it earlier, but I would repeat the catch phrase
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that good companies don't get solved,
they get acquired. Right and as an
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early sales investors and investors in general, I don't think that you want to
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build a company with a state of
mind of a potential exit. I mean
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you don't build a company to get
a choired, but you always think about
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what's the best way to build a
sustainable business. I would say that in
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Cybersecurity specifically, it's quite hard because
it's a very crowded space and there are
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a lot of a lot of big
companies, a lot of competition and a
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lot of patients to to get acquired
along the way. Yeah, and you
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know when you're doing something right as
a startup usually you grow and and you
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get noticed by the large vendors.
Usually happens when you displace a large vendor
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in a big customer or customer that
stopped the decided not to purchase the big
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vendors product and in place and instead
get get the startups product, then you
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start to step step on their toes
and get on their radar and that then
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they become very interested in the space. And you know, you reach a
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point in time when you when you
think whether it's now is the right time
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to sell, to get a quired
heard or Eider, to raise an additional
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round of capital and go the way
to the next level. And it's a
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very hard question. I mean there
is no guarantee. You know, you
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always have to analyze the market and
project and see see how your marker,
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how your specific monk it is going
to look like the next few years.
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So, just for an example,
if if a large vendor is interested to
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require your start up, okay,
if you say no, there's a big
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chance that they will buy your competitor. So I would that change the landscape.
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Maybe then it would be harder for
you to compete. That's something you
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need to consider. I will the
landscape look in the next few years?
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Maybe other companies we step into your
market and get some significant market share.
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So there are different elements that you
need to take into considerations when you make
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that decision. As mentioned there.
It's it's not very easy and it's not
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a clear cut there. It's not
like a yes or no. But at
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the end of the day, and
that's from my our perspective as investors,
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think that basically it's down to Preneur's
decision. It's the founders decision. The
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founders are the ones who are they're
the captains of the ship. There the
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heart and soul of the start up
and they're the ones with the vision.
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And sometimes we may have disagreement.
You know, somebody thinks that we need
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to raise more capital and go all
the way. Another guy thinks that it's
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time to sell. You need to
make a good discussion and be very analytical
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about it, but the end of
the day this is the founders company and
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and we try to be supportive of
any every decision that day they reach.
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Yeah, absolutely, but it's got
to make sure your life wreat you excited.
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But I do agree with you.
I think it's a it's a very
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active markets, almost almost aggressive sometimes, the way the way we see we
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see big company going after that quisition
and trying to expand the port for you
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and because, by ways as well, we've seen that we've seen company at
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serving lots of companies at once with
sin stems of the kinder time in the
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way they would they would make that
position. But B it's interesting at the
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moment because we even see non security
company being involving doing some that position.
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So when you see your Palowel to
acquire an as of security company comes almost
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it's okay. When you see a
recall or a companies, you will not
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see as the security players, such
or even a Microsoft, acquiring and other
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security companies straight to where you realize
that, okay, this is this is
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this is such an exciting market at
everybody wants to have everybody wants to enter
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the play, if you will.
But the next question I've got from you
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is them. It's part of the
acquisition. So you mentioned companies are being
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sold and some of those are being
acquired. What would you advise to an
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acquire if they were to real started? Because I guess the reason why I'm
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asking you the push just to step
back a little bit, we see two
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types of acquisition. We see acquisition
where almost straight away the full team of
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the STARTUS is leading, the start
of the service team is leading marketing teams
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leaving Exeter, ex which is a
world acquisition where the start up is actually
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acting as a start to carry on
doing what they are doing within the large
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organization pain that people growing and they
actually use the resources of that large organization
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potentially good to be the clients exuch
rights such. So I was wondering if
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you are a new device or the
choir when these are this is a good
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acquisition, or some one into what's
the best way to not only make that
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acquisition but also to get the most
of the decosition. That's a very interesting
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question. I think that the most
important thing is company culture. Yeah,
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I guess that if the start up
that acquired, it means that they were
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doing something right, which means that
they had something good going on, and
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the last thing a big company wants
to do is to swallow small start up
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and crush it and to something that
you sadly we see, we see sometimes,
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and I think that the you ask
whether a big company should embed the
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start up in their in their organization, or either keep it as as a
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separate unit, almost autonomous unit,
under under the roof a lot of different
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the resources apples. I would I
would say that this is a mostly about
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company culture. If the if the
acquiring company believes that they have they share
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the same value use and that they
can, they're agile enough, in order
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to work together with this small unit
of probly very skilled people, then the
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synergy is high and they should swallow
it and make it a one one function.
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I think that if there are a
lot of if the gap is thick,
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for example, you mentioned before that
you see a lot of non security
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companies acquire security startups. So,
knowing that, in that scenario there's probably
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a big difference between how the large
company operates, in how the start up
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operates and how the entrepreneurs would like
to move you usually entrepreneurs, why,
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would like to move fast and be
very agile, and large corporations are struggling
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to do that. Yeah, so
if, if, if the reality tends
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more to be like that, I
would advise to keep the start up as
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a as an autonomous function that can
enjoy all the resources of the large company,
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like says, sales force and marketing
power and so on. But if
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there is high synergy, if there
if it's a big security company that already
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acquired several startups and there's a lot
of entrepreneurial mentality going on, so I
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don't see a big concern in that. So, just to conclude it,
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it's all about making sure that this
small and talent and team is able to
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keep doing the good stuff that they've
been in the past few years and you
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need to enable them to do it
in the best way and to enjoy the
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synergy of and all the good things
that the corporations have that small set of
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dog consider not agree with you sing
for that. We appreciate you your time
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and in sight today. On the
deferent to bigger discuss now if anyone wants
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00:19:36.299 --> 00:19:40.289
to connect with you, and no
more about what we've discussed. So I'll
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find out more about way. Evenhos. What's the best way to connect with
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00:19:42.809 --> 00:19:45.890
you? Yeah, you can reach
me out there on my email. My
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00:19:47.009 --> 00:19:51.569
email is off o fe or at
my Adventurescom. Can read all about us,
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00:19:51.609 --> 00:19:55.000
you know, website. I can
see all of all of our companies
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in our strategy and free to reach
out. Okay, that's one. Not
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For w many things once again.
Now it was great to have younger should
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00:20:03.640 --> 00:20:08.670
thank you very much. It's been
a pleasure. operatics has redefined the meaning
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00:20:08.710 --> 00:20:15.910
of revenue generation for technology companies worldwide. While the traditional concepts of building and
265
00:20:15.990 --> 00:20:21.500
managing inside sales teams inhouse has existed
for many years. Companies are struggling with
266
00:20:21.619 --> 00:20:26.180
a lack of focus, agility and
scale required in today's fast and complex world
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00:20:26.460 --> 00:20:33.940
of enterprise technology sales. See How
operatics can help your company accelerate pipeline at
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