18 min listen
EP 467: $60M Raised To Help CIO's Manage Their Cloud with CEO Ben Nye
EP 467: $60M Raised To Help CIO's Manage Their Cloud with CEO Ben Nye
ratings:
Length:
20 minutes
Released:
Nov 3, 2016
Format:
Podcast episode
Description
Ben Nye. Ben joined Bain Capital Ventures in 2004 and leads their infrastructure software team. Listen as Ben talks about how he became Turbonomic’s CEO and how they got to Series D. Famous Five: Favorite Book? – Steve Jobs Book What CEO do you follow? – Jeff Bezos Favorite online tool? — LinkedIn Do you get 8 hours of sleep?— No If you could let your 20-year old self know one thing, what would it be? – “I wish I knew about the power of equity” Time Stamped Show Notes: 01:34 – Nathan introduces Ben to the show 02:00 – Ben joined Bain Capital Ventures in 2004 02:15 – Capitalized Turbonomic as an investor in 2009 and first delivery of product in GA in 2010 02:30 – Joined the company full-time in 2013 02:40 – Bain Capital Ventures is a sector focus 02:55 – They want something with a prepared mind 03:17 – They cover multiple sectors 03:38 – Total capital raised 03:59 – Ben is the lead investor at Bain Capital Ventures for Turbonomic 04:17 – There was 3 CEO in Turbonomic 04:46 – There was an issue between the founder and the CEO that was hired 04:58 – The board made a decision, making Ben the CEO 06:15 – Passive equity in the company 06:22 – They kept the best people 06:42 – The company has to retire passive shares and it is covered by investors right agreement 07:00 – They have bought people’s equity, who left the company 07:15 – Turbonomic is a soft managing self-organizing control system 07:40 – They have the capability to provide enhance performance for high workloads 08:15 – They have on-premises and off- premises sectors 08:30 – In on-premises, there is per socket and per core based pricing 08:35 – In off-premises, there are no sockets so you work virtually in public cloud 08:55 – They are not SaaS, but users can purchase on term basis 09:20 – Some users request how to acquire the software 09:35 - They measure the environment based on sockets and core count 09:52 – 91% of the customers have a 3-month full payback 10:19 – Ben offers a scenario how the model works 11:34 – At Bain Capital Ventures, they research the companies and pick which they think will win 12:53 – The startups competing in the market 13:15 – In Turbonomic, there are 16,000 CIO who invested in them 13:28 – They have 400 employees 14:00 – Revenue growth in 2016 14:36 – In November of 2014, they did a $ 50 million series-d 15:35 – Going to series-d will depend on the nature of the company 15:41 – Ben’s company is an intellectual property strategy company 16:30 – Connect with Ben through his website and join Green Circle Community 18:30 – The Famous Five 3 Key Points: People can voluntarily sell their equity when the leave a company. Getting to series-d will depend on the nature of the company. Know your market. Resources Mentioned: Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal developers. Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible. Freshbooks – The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Assistant.to – The site Nathan uses to book meetings with one email. Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel. Turbonomic.com – Ben’s website Green Circle Community – Ben’s online community Show Notes provided by Mallard Creatives
Released:
Nov 3, 2016
Format:
Podcast episode
Titles in the series (100)
EP 89: From Poker Player to Magician to $5m Advertisements: Nathan Latka brings you top entrepreneurs daily inspired by Tim Ferriss, Pat Flynn, John Dumas, Entrepreneur on Fire, Chalene Johnson, NPR, HBR, the StartUp podcast, Art of Charm, Dave Ramsey, Planet Money, APM Marketplace, Mixergy, Seth Godin, #AskGaryVe by SaaS Interviews with CEOs, Startups, Founders