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Phil Reynolds

๐Ÿ‘ค Speaker
221 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

Yeah.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

No, he didn't actually.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

He exited the company a year before me.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

So he exited right after the Series B. He was like, Series B and the nature of this has changed enough.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

And I think I want to do something else.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

And I stuck in there for another 18 months, being founder guy, running the company with the private equity firm.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

But it was definitely a different world.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

So I had this really nasty problem at Brightcore that I was never able to solve with existing project management tools.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

And it goes a little something like this.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

If you're a meaningfully sized enterprise software team, you probably have multiple products.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

And those multiple products have their own sort of like roadmaps that are going like this over time.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

But if you're an enterprise, you're also implementing those multiple products for multiple customers

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

and they have their own timelines that they're trying to hit for their implementation.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

If you take a layer into that, a series B private equity firm who has their own ROI calculations on when they want to see certain things get, you know, they've invested, as you said, $47 million, I want to see a return on this.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

You're not trying to manage kind of this dimensional data problem.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

I have these projects and it's just one team, one project.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

I have like an authentication module or I have a payments module or whatever it is.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

But there's all these different stakeholders that need different things out of it and they'll have different roadmaps.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

And I could never solve that problem at Brightcore.

SaaS Interviews with CEOs, Startups, Founders
How he closed $3.3m Seed (sold 25%) for Agile Management Tool Last Week

And it led to all sorts of pain and complication in the process.