1/8 Today, @thedarwinbox announced its $15mm financing, led by @SalesforceVC. I couldn't be happier for this founding team from Hyderabad to have Salesforce make its first SaaS investment in Asia. cc: @alexkayyal ^ArundhatiBhattacharya
2/8 @shuvi and I first met @chennamaneni, @jayantp, @chaitanyapeddi in February 2017, with @lightspeedindia subsequently leading the Series A in May 2017. The founders and us shared a belief that Asia is underserved and has different requirements for SaaS/enterprise software.
3/8 Over these past 3.5 years, the company has gone from $10k-> $100k ACVs with several accounts well above that. From India->SE Asia->60 countries. From mid-market->enterprise. From 50k->1 million users engaging with the platform.
4/8 The journey with Rohit, Jayant and Chaitanya has taught me the value of a well-rounded team and of a rock-solid vision. Their vision is to be the leading HCM player from Asia, to challenge big global brands like SAP and Oracle in our own backyard and beat them at their game.
5/8 The journey has also taught me that the highest impact companies usually start with a vision that nobody believes in. Then, as the story unfolds, more people start believing: SaaS for Asia, 60% of the world's workforce. linkedin.com/pulse/saas-asi…
6/8 Covid caused a disruption in workforces but then accelerated digital transformation and remote work. @thedarwinbox accelerated into this disruption by rapidly adapting the product for remote workforces. explore.darwinbox.com/lp/evolve
7/8 It's been a pleasure working with Chaitanya, Rohit and Jayant, despite some tough moments😀Our co-investors have been a delight to work with - thanks @sateesh_andra, @harshjitsethi, @pai_dpiper – and independent board member @AneeshBReddy.
Small boards (5 or less) are magic. These massive board meetings here with 10-20 people and every board member and board observer bringing a colleague stifles problem-solving conversations, vulnerability, transparency and generally makes things unproductive.
99% of board meetings I attend have board materials sent less than 24 hours prior to the meeting, sometimes nothing prior to the meeting. I'd encourage founders to do a flipclass model where the deck is sent 4-5 days in advance and only Q&A at the board mtg + strategic deep dives
Would also encourage time for the outside board to chat at the end of each board meeting and then invite the CEO back in for immediate feedback. I've seen this only in 2-5%of boards, so far.
We did a deep dive into digitally-native influencer-driven brands here in India recently. Conclusion: it is a bit early, as truly endemic influencers are not yet at scale (10s of millions of followers) on Insta etc. 1/n
Yes there are sports/movie celebrity-driven brands but not clear these are venture-backable opportunities- much of the value is being extracted by the celebrities themselves or by distribution platforms such as Amazon and Myntra. 2/n
Lightspeed has backed numerous such influencer-driven companies in the US, including @Honest, @rothys, @goop, ^brandable etc. #dnvb