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Is Enterprise Hyper-Growth the New Normal?

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Alison Wagonfeld, operating partner at Emergence Capital, gives a talk about rapid growth trends for enterprise cloud companies. Topics covered include the key factors influencing growth and what companies need to do to keep up.

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Is Enterprise Hyper-Growth the New Normal?

  1. 1. Is Enterprise Hyper-Growth the New Normal? Alison Wagonfeld Operating Partner, Emergence Capital October 13, 2015
  2. 2. 2 About Emergence Capital  MISSION: To invest in visionaries who are building the most important enterprise technology companies  OVERVIEW: – Firm was founded in 2003 with the thesis that enterprise software would move to the cloud – 2015: Nearly $1 billion under management  4 Institutional funds raised in 2004, 2007, 2012, and 2015  LP base – Leading Endowments, Foundations and Fund of Funds  ~40 active portfolio investments  ~$50 billion of market capitalization 2
  3. 3. 3 Track Record: 5 Emergence “Unicorns” in 10 Years 2004 2009 2014 3
  4. 4. 4 Strong and Growing Portfolio
  5. 5. 5 What do these companies have in common?
  6. 6. 6 They all sell to businesses and they are satisfied with nothing less than… “HYPER-GROWTH” Growing at >100%/year
  7. 7. 7 So we asked ourselves… Is Enterprise Hyper-Growth the New Normal?
  8. 8. 8
  9. 9. 9 Why?
  10. 10. 10 Three Factors Impacting Growth 1. Rapid increase of connected professionals 2. Unprecedented access to growth capital – Allows companies to stay private and invest aggressively without worrying about quarterly financials 3. New sales technology, process, and talent – Cloud based applications enable teams to operate differently  Email marketing, video conferencing, remote presentations, e-signatures, sales tracking, analytics
  11. 11. 11
  12. 12. 12 BUSINESS MODEL Product Driven Sales  New business models: End-users can search, try and buy: – Freemium – Free-trial  Result: Buyers have interacted with product before “sales” comes in, enabling shorter sales cycles
  13. 13. 13 TECHNOLOGY Machine Learning & Predictive Analytics  New technology improves productivity – Online training & simulations – Productivity analytics – Real-time decision making  Not-too-distant future – Voice analysis – Natural language processing
  14. 14. 14 PLATFORM Mobile First Mentality  New cloud platforms host applications that optimize mobile sales experience – Messaging – Mobile CRM – Tablet Presentations – Digital signatures  Not-too-distant future – Geo-targeting – Wearables
  15. 15. 15 ORGANIZATION Deep Specialization  Organization includes specialized Sales Roles – Sales Development Reps (SDR) – Inside Sales – Sales Ops – Customer Success  New “Sales Acceleration” tools for each role – Sales prospecting – Configure, price, quote – Upsells/Customer Success
  16. 16. 16 Rise of the “Super-Rep” Super-Reps equipped with Hardware + New Sales Applications
  17. 17. 17 Impact: Hyper-growth “S” Curve is Increasingly Attainable Time $ ARR
  18. 18. 18 Success Requires Unprecedented Levels of Sales Execution  Winning teams have company wide focus on: – Hiring, process, training, tools, process, reporting, analytics, process  Did I mention “process”?   Don’t have time to “learn on the job” – Need experienced team, and/or bring in sales consultants to accelerate learning  The good news is that any company can design for hyper-growth
  19. 19. 19 About Emergence Capital @emergencecap Emergence Capital, based in San Mateo CA, is the leading venture capital firm focused on early and growth-stage enterprise cloud companies. Its mission is to invest in the cloud visionaries who are building the most important business applications. The firm's investments include Salesforce.com (CRM), SuccessFactors (SFSF, acquired by SAP), Veeva Systems (VEEV), Yammer (acquired by Microsoft), and Box (BOX). Emergence Capital has over $910 million under management. More information on Emergence Capital can be found at www.emcap.com. Alison Wagonfeld, Operating Partner, Emergence Capital, @awagonfeld Presentation references article published by Jason Green, Co-founder & General Partner, Emergence Capital, @jasonegreen http://techcrunch.com/2015/09/08/is-enterprise-hyper-growth-the-new-normal/

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