SaaS Interviews with CEOs, Startups, Founders
708: $35M Raised to Tell IT Departments What Alerts Are Important
02 Jul 2017
Chapter 1: What inspired Assaf Resnick to leave Sequoia Capital?
Founded back in 2012 in Tel Aviv, now with offices in Palo Alto and Tel Aviv, 60 folks full-time, about half and half between product and engineering and then market and sales. They've raised $35 million, have 20 of the Fortune 500 as customers, but less than 500 total, so between 20 and 500 customers.
average kind of contract value you know really hitting that million dollar mark as they help try and and and help these it guys in these war rooms understand which alerts are important and which ones are simply noise this is episode 708 coming up tomorrow morning you'll learn from blake smith who breaks down how he's got 17 000 people using his app to efficiently manage their wardrobe but first here's today's episode
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per top. Five and six million.
Chapter 2: How does BigPanda automate IT operations?
He is hell-bent on global domination. We just broke our 100,000 unit sold mark. And I'm your host, Nathan Latka. Hello, everybody.
Chapter 3: What challenges do IT departments face with alerts?
My guest today is Asaf Resnik. He's the founder and CEO of Big Panda, an algorithmic IT operations platform that turns IT alert noise into insight, unifies fragmented operations, and enables digital enterprises to attain dramatically higher service levels.
Prior to founding the company, he was an investor with Sequoia Capital, where he focused on early-stage companies across enterprise software, SaaS, and the internet sectors.
Chapter 4: What is BigPanda's business model and pricing structure?
Asaf, are you ready to take us to the top?
Chapter 5: What strategies did BigPanda use to raise $35 million?
I am. I am. Thanks for having me. Sequoia sounds like a sweet gig.
Chapter 6: How does BigPanda help clients manage data effectively?
Why do you jump out of that and launch Big Panda?
Oh, that's a good question. Sometimes I still ask myself that.
Chapter 7: How does BigPanda ensure high service levels for clients?
And the hardest day is I ask myself, why did I leave this golden cage? You know, I spent six years at Sequoia, and it was an opportunity of a lifetime. I had the privilege to work with some incredibly talented entrepreneurs and incredibly talented people. partners, but I was young. And I felt at the time, boy, I started there at age 29. And I learned a ton.
It was one of those pivotal moments in my career that a fork in the road, and you look back, and this was definitely one of those forks in the road. But after a few years, A, I got the entrepreneur bug.
Chapter 8: What advice does Assaf have for aspiring entrepreneurs?
And I'd been around a lot of entrepreneurs and seen them through the good times and the bad times. And I wanted to get a sense for that myself. And I also had a sense that Having not started a company before, I was kind of telling people how to drive a car, but I'd never driven a car myself. And so I really wanted to kind of eat my own dog food. And that was a lot of the impetus to leave.
Did you miss out on any deals at Sequoia because the entrepreneur was like, listen, I got a term sheet from the guy at Bessemer and he's built his own company before. So sorry, I gotta go with him.
I wasn't a partner. I was kind of a principal there, so helping a lot of deals at the time. So I personally didn't have a lot of that. And Sequoia is a tough place to turn down. But so it really wasn't from a perspective of winning deals. It was more from perspective of personal career growth.
So just people that aren't familiar with how VC works, you have kind of analysts and then principals and then managing directors. Is that kind of how it was at Sequoia?
Every firm is different. Sequoia is pretty flat. But, you know, different firms have the kind of very regimented. You're an analyst and then you're an associate. Every firm is a little different.
And so how was Sequoia?
Pretty flat.
Yeah.
You know, it's a pretty flat organization where the partners do the majority of their own kind of sourcing and deal flow and due diligence.
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