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Posts Tagged ‘fundraising’

When Everyone Is Your New BFF…

February 22nd, 2013 Comments off

As I had announced in my last posting, Cylance had officially launched, and with that news came additional details on our Board of Directors, Advisors, and the funding that we had secured. More specifically, $15 million that have been secured through two of the top VC firms, Khosla Ventures and Fairhaven Capital Partners. Now keep in mind, while we are still technically a start-up, there is no shortage of work and structure that needs to be in place to secure this kind of funding. The last I checked, you just don’t go knocking on a few doors and hope that someone writes you an 8-figure check.

I’m also not going to go into the details of our current structure, but I get a bit of a chuckle seeing the onslaught of marketing materials that we have received since our launch. You would think that in one fell swoop we had just filed our fictitious business name statement and only moments later had already sold the company for a HUGE payday. To start things off, there were countless solicitations for real estate representation and wanting to help us find our future home. Check. Already have that covered through a long established and trusted network. The next onslaught would be best characterized as the recruiter onslaught. With a management team that has decades of experience in cyber security then they better be able to recruit from within their own network. Check. We are already solidly moving forward with an A-grade team. Next you wonder? A myriad of folks who want to help us navigate the stormy waters of insurance coverage. Check. Already have that covered as well through our long established and trusted network. Whether workers’ comp or D&O, it we don’t have that in place we have no business being in the positions we are.

The next wave of solicitations was even more amusing. As you know, when you start a company you are destined for riches and it might as well be a slam dunk. It’s a good thing that we started receiving all the literature now on what to do with the vast wealth that will occur at some assured time in the future. Again, this is an area where I wouldn’t trust anyone I didn’t already know and was a trusted advisor or source in the past. I just have to wonder what kind of success these firms have by reading the paper, assembling an envelope of marketing filler, throwing on some postage and dropping it in the mail. In the Finance world, unless you have a unique value proposition that will help me improve my results, in a sustainable way, and isn’t offered by my existing trusted network…then you’ll have a long line to wait in.

As our work and efforts require, we secure our business on trusted relationships and a definitive expertise that we bring to the table and not a glossy brochure. A unique value & protection proposition that our customers can plainly see. What are you bringing to the table…?

Thanks for reading…

Jeffrey Ishmael