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Why We Invested in Steelbrick

Why We Invested in SteelBrick

by Jason Green, General Partner

Recently we had a kick off strategy session with SteelBrick, a new Series A investment for Emergence. I walked away feeling totally energized about working with this amazing team to build a next generation SaaS leader to enable “Selling made Simple”. I want to take a moment to share why I’m so excited to be working with Founder Max Rudman, CEO Godard Abel and the entire SteelBrick team and why this was such a great fit for Emergence.

The press release on our financing: http://www.steelbrick.com/press-release-steelbrick-financing-from-emergence-capital

First, this product solves a real pain point in the market in an elegant and repeatable fashion. Configure, Price and Quoting (“CPQ”) solutions have become “standard practice” for leading sales organizations similar to how CRM and Marketing Automation became “must have” solutions. Founder Max Rudman bootstrapped the business to over 150 happy customers leveraging the Salesforce.com platform with no outside capital. The power of a scrappy, product-oriented founder who is intensely focused on customer success came through loud and clear in the many conversations we had with their delighted customers.

Second, Godard Abel and Matt Gorniak, the Founding team at BigMachines, who pioneered the CPQ space, successfully sold BigMachines to Oracle but never achieved their ultimate goal of building a public, independent company. When they discovered SteelBrick, a true SaaS CPQ solution built on the Salesforce platform, they decided to join Max and bring the band back together again to achieve their ultimate dream.

Third, they are thinking big from the start. They understand what it takes to build a market leader and Godard and his team are being incredibly thoughtful about the people he wants to recruit and the culture he wants to build. It is part of their mission to create a great place to work for hundreds and hopefully thousands of people. As an investor it simply doesn’t get any better than this, a proven product in an important emerging category, a proven team with relevent domain expertise and an opportunity to partner with them in the earliest days to build a world class team to maximize the potential of the business.

It’s an honor to work with Godard and his team — and we are incredibly excited to change the world of selling made simple together.

The Evolution of SaaS: What a difference 10 years Makes

A Decade of SaaS

Our Investment in Xapo – Another Transaction for the Blockchain

by Santi Subotovsky, Emergence Capital Partners

Today, Emergence Capital is thrilled to announce an investment in Xapo, an early leader in the emerging bitcoin ecosystem.  CEO Wences Casares has decades of experience in building successful global finance companies. My partners and I have known him for over fifteen years, and we can’t think of a better leader to navigate this exciting new platform.

On a personal level, I have been tracking bitcoin startups for nearly two years.  When I first canvased the ecosystem, I came across less than 100 startups, mostly focused on wallets, exchanges and merchant services.  I’m now working on an updated version of this landscape with nearly 1,000 companies, which I plan to publish in the next few weeks.

The more time I spend with bitcoin entrepreneurs, the more obsessed I become. It’s so much more than a financial instrument – it’s a protocol that allows efficient and secure fixing, storing and transfer of value. That value can be much more than a currency, we are thinking about use cases in real estate, tickets, email addresses and more. While we have started to see early companies focused on the consumer elements of bitcoin, at Emergence, we are particularly excited about the emerging B2B opportunities around security, identity, financial tracking, merchant services, analytics and others.

Just over 10 years ago we invested in Salesforce.com which became the defining company in the SaaS world. Today, we are announcing our first investment in a bitcoin company, and we are excited to partner with Wences and the company that’s going to help define one of the most exciting developments for the next decade.