Here’s your look at the largest deals relating to IPOs, acquisitions, and venture capital investments across the Boston tech scene in 2018!

IPOs

 

Carbon Black goes public

Carbon Black is one of the leading providers of enterprise-wide endpoint security. Carbon Black intends to list its common stock on the NASDAQ Global Select Market under the ticker symbol “CBLK.”
 

Carbon Black is now hiring!

 

EverQuote goes public

EverQuote is an online marketplace for auto insurance. EverQuote plans to list on the Nasdaq under the symbol "EVER."
 

EverQuote is now hiring!

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Acquisitions

 

PillPack acquired by Amazon

PillPack delivers medications in pre-sorted dose packaging, coordinates refills, and renewals, and makes sure shipments are sent on time. The acquisition is subject to regulatory approvals.
Location: Somerville

PillPack is now hiring!

 

LogMeIn Acquires Jive Communications for $342 Million

LogMeIn purchased a leader in the Unified Communications-as-a-Service (UCaaS) space.
Location: Boston

LogMeIn is now hiring!

 

S&P Global acquires Kensho

Kensho’s AI, machine learning, data visualization, and analytics technology will be part of S&P’s emerging technology department.
Location: Boston

Kensho is now hiring!

 

Grubhub acquires LevelUp

Grubhub Inc. will acquire mobile payments company LevelUp for $390 million.
Location: Boston

LevelUp is now hiring!

 

Siemens acquires Mendix

Siemens AG will acquire Mendix for $730M in cash, plus a significant multi-year investment to accelerate R&D innovation and global footprint of their platform.
Location: Boston

Mendix is now hiring!

 

VMWare acquired CloudHealth Technologies

VMware has agreed to acquire CloudHealth Technologies for approximately $500 million. CloudHealth will continue to operate as a brand underneath VMWare.
Location: Boston

CloudHealth Technologies is now hiring!

 

Broadcom sells Veracode to Thoma Bravo for $950M

Broadcom is selling CA Technologies' Veracode application security testing platform to private equity firm Thoma Bravo for $950 million in cash.

 

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Funding (Over $100M)

 

Cambridge Mobile Telematics receives $500M

This investment will accelerate the adoption of CMT’s successful DriveWell platform used by insurers, fleets, wireless carriers, and other entities to measure driving risk and improve driver safety. It will also fuel CMT’s growth in automated crash and claims management, video analytics, and safety for emerging vehicle and mobility systems.
Investors: SoftBank Vision Fund
Location: Cambridge

Cambridge Mobile Telematics is now hiring!

 

Devoted Health raises $300M in a Series B round

Devoted Health plans on enrolling to its Medicare Advantage plan members in eight Florida counties. The company, which helps Medicare beneficiaries access care through its network of physicians and tech-enabled healthcare platform. 
Investors: Andreessen Horowitz, Premji Invest, and Uprising

Devoted Health is now hiring!

 

American Well raises $290M in a corporate round of financing

American Well is using the funds to scale their virtual doctor plans business.
Investors: Philips and Allianz X
Location: Boston

American Well is now hiring!

 

Indigo closes Series E with $250M

 Indigo Ag, Inc., a company dedicated to harnessing nature to help farmers sustainably feed the planet, announces the launch of Indigo Marketplace™, along with the close of a $250M Series E funding round. Indigo Marketplace allows the company to further its vision for decommoditizing agriculture to better support grower profitability, environmental sustainability, and consumer health.
Investors: Baillie Gifford, Investment Corporation of Dubai, the Alaska Permanent Fund, and Flagship Pioneering.
Location: Charlestown

Indigo is now hiring!

 

Fuze receives financing round totaling $150M

The company plans on using the funding to accelerate expansion and product growth.
Investors/Groups: Summit Partners, Bessemer Venture Partners
Location: Boston

Fuze is now hiring!

 

Toast closes Series D round at $115M

Toast plans to accelerate investment in research and development, recruit new talent, and expand its market presence.
Investors: T. Rowe Price Associates and Tiger Global Management
Location: Boston

Toast is now hiring!

 

ezCater receives $100M in a Series D round

ezCater enables businesspeople to connect with local caterers and restaurants online. The company plans on using the funds to expand their business internationally.
Investors: Wellington Management
Location: Boston

ezCater is now hiring!

 

Actifio closes another round of funding

Actifio, a data management startup, has added another $100 million round of funding that brings its valuation to more than $1.3 billion.
Investors: Crestline Ventures, North Bridge Venture Partners, 83North, Advanced Technology Ventures, Heritage Group, and Andreessen Horowitz .
Location: Waltham

Actifio is now hiring!

 

Hopper raises $100M in an additional round

Hopper plans to use to build out its AI algorithms and expand deeper into international markets.
Investors: N/A

Hopper is now hiring!

 

Flywire raises $100M in a Series D round

Flywire is a fintech company that helps universities, hospitals and businesses accept foreign-currency payments
Investors: Temasek, Bain Capital Ventures, and F-Prime Capital
Location: Boston

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Funding (Over $60M to $99M)

 

TraceLink raises an additional $93M in a Series D

TraceLink is a SaaS platform for tracking pharmaceuticals and trying to weed out counterfeit prescription drugs in the process
Investors: Georgian Partners, Vulcan Capital, and Willett Advisors
Location: North Reading

 

Aras announces $70 Million investment in a Series D round

 

Aras is the leader in open product lifecycle management (PLM) software for the enterprise companies.
Investors: Goldman Sachs Private Capital Investing and Silver Lake Kraftwerk

 

Wasabi closes Series B with $68M

Wasabi is a cloud storage company delivering low-cost, fast, and reliable cloud storage founded by Carbonite founding team David Friend and Jeff Flowers.
Investors: Forestay Capital
Location: Boston

 

 

Desktop Metal closes an additional $65M round

Desktop Metal’s newest round of funding brings their total to $277M.
Investors/Firms: Ford
Location: Burlington

Desktop Metal is now hiring!

 

Drift raises $60M in a Series C round

Drift plans on using the funds to expand their business in both Boston and San Francisco.
Investors: Sequoia Capital
Location: Boston

Drift is now hiring!

 

ClearCompany raises $60M in growth equity

ClearCompany said the funds will be deployed to support the company’s strong growth and recently expanded partnership with ADP.
Investors: Primus Capital
Location: Boston

ClearCompany is now hiring!

 

BitSight Technologies raises $60M in a Series D round

BitSight Technologies, the developers of cybersecurity rating software for enterprise companies, has expansion plans in mind with this new round.
Investors: Warburg Pincus, Menlo Ventures, GGV Capital, and Singtel Innov8
Location: Cambridge

BitSight is now hiring!

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Colin Barry is an Editor & Staff Writer to VentureFizz. Follow him on Twitter @ColinKrash

For the 62nd episode of our podcast, I interviewed Aaron Feuer, Co-Founder and CEO of Panorama Education.

Education has always been a passion for Aaron and what ended up being the inspiration behind Panorama actually began when he was in high school. As a student organizer, he got a bill passed in the state of California, which was an attempt at giving students a voice through feedback surveys. Although the bill was passed, it didn’t accomplish what he expected at all, and that frustration ultimately upped the ante for his mission to change the future of what education should be.

Aaron and his co-founders started Panorama Education when they were students at Yale, juggling coursework while embarking on this entrepreneurial journey. Today, Panorama is a venture-backed company ($32M raised) that helps schools collect & analyze data about social-emotional learning, school climate, engagement, and more through its Panorama Platform. The company currently serves 9 million students across 900 school districts.

In this episode of our podcast, we cover:

• The Panorama journey, from the foundation years of building a company while in college to the current state of their business and products.
• His experience at Y Combinator, and why that time was so valuable.
• Advice on raising capital for first-time founders and how they raised initial seed funding from so many prominent investors like Mark Zuckerberg’s Startup:Education Fund (now known as the Chan Zuckerberg Initiative), Ashton Kutcher, Eric Ries, Spark Capital, Owl Ventures, Uncork Capital, and Emerson Collective, which is the firm that was launched by Laurene Powell Jobs and led its most recent round of funding.
• Why focus and solving your customers’ pain points are so important for building out successful products.
• A deep discussion around how he learned to be a leader.
• Plus, a lot more.

Panorama Education is rapidly expanding the team! They are growing quickly and hiring for a number of key roles across the company including marketing, sales, product and client success leadership. Check out their BIZZpage on VentureFizz for a full list of opportunities: venturefizz.com/panorama.

I speak at events frequently, and always find myself spending more time observing and learning from the other speakers around me to strengthen my own style. Fear of public speaking has long been acknowledged as one of the biggest fears in the world, but there are ways to overcome it. Whether you desire to speak on a big stage or just want to get a little more comfortable speaking up in a meeting, read on for a few hints to help bolster your confidence and have you speaking like a boss in no time.

TELL A COMPELLING STORY

Think about the best stories you’ve ever heard.  They are engaging and typically there is a lesson embedded in them. We all have a story to tell; the trick is to connect with your audience on it.  Is it relatable? Does it make a point? Do you have supporting visuals to drive that point home? (think Powerpoint or other graphics).

PRACTICE & DON’T READ LINE BY LINE

Presentations can be great, and you might have the world’s best animations to support your talk track. However, nothing loses an audience faster than when a speaker reads their presentation line by line. Be sure to practice and understand your key messages, rather than relying on reading what the audience can read for themselves. Think of your slides as supporting documentation to the big messages you are trying to hit.  

READ THE AUDIENCE

If you’ve practiced enough and feel confident with your material, hopefully you’ll be in a position to edit on the fly based on audience reaction.  Are they leaning in? Nodding their heads? Appearing engaged? Fantastic! If they aren’t, take a deep breath and regroup. Find a smiling face and focus on regaining your energy from them.  If you are feeling good, it will show, and people are more likely to connect.

BE AUTHENTIC

Often people try to enhance their stories with the inclusion of an abundance of facts, statistics, and quotes. While that can add some interesting credibility, don’t rely just on the recitation of other people’s data.  Be sure to add in your own perspective, experience and point of view. When you bring your authenticity into the mix, it aids in the connection to your audience. Know yourself and your style, and use that to your advantage. If you are really funny, add humor. If you aren’t, move around the stage a bit to keep people engaged.  When you are authentic and bring the energy, you’ll find the connection.

DON’T BE AFRAID TO ANSWER QUESTIONS

Perhaps you feel well rehearsed and comfortable sharing your prepared remarks. Then someone asks you a question, and you are forced to think on your feet and share something seemingly intelligent.  If people are feeling brave enough to ask, it’s an indication your message has landed with them. If you get stuck, own it, and say, “Let me think about that a little and circle back to you.” And then do. Think of questions as an opportunity to go even deeper in a less formal way.

GET SOME FEEDBACK

Speaking in public can be scary for a reason; you are putting yourself out in front of others hoping to land a message. It takes practice to feel comfortable and to gain competency in delivering with impact. Take advantage of asking for feedback about what went well - and not so well - from people who listened.  Ask a trusted friend/colleague to tape you, and watch it back. (Yes, you’ll likely cringe, but you’ll also likely learn some things to do and not do next time). Speaking up is all about continuous learning; don’t be afraid to keep practicing and working on getting better.

Christina Luconi is Chief People Officer for Rapid7. Follow her on Twitter: @peopleinnovator

Chewy is the largest pet eCommerce website in the country. Need to get your dog some new food, cat toys or anything else imaginable? Chewy has you covered.

The company was founded in Dania Beach, Florida and has since expanded into various cities across the country, with Boston being one of them.

We connected with Chewy's Director of Talent Acquisition, Brie Miller, to learn about the company's culture and what the Boston team is working on at this location. We also found out what kinds of pets are allowed in the office.

Are you interested in working here? Click here for all of Chewy’s job openings.

Quick Hit Company Details

• Year Founded: 2011
• Number of employees (total & in Boston): Over 9,000. Nearly 200 in Boston.
• Industry: eCommerce

Can you share the details on what Chewy does?

We’re a one-stop-shop for all things pets! With over 9,000 team members across the country, we’re a fast-paced and rapidly growing eCommerce company. Our expansive product inventory has everything pets need from food and treats to beds and leashes to toys and apparel, and with our recent launch of Chewy Pharmacy, we now cater to pets’ prescription-based needs as well. We even have items for pet parents, too, since we know how much our customers love flaunting their pet love and ownership.

At Chewy.com, we make it easy for pet owners to find the products they want and need and we deliver them straight to customers’ doors within one to two days. With a commitment to 24/7 customer service, cutting-edge software and technology, and high-quality products, we strive to be the most loved and convenient online destination for pets and pet parents.

What teams are based in your Boston office?

Chewy’s Boston Headquarters focuses mainly on technology with team members working in Engineering, Product Management, Data Science, Digital Marketing, Design, Human Resources, and Talent Acquisition.

What are some of the unique projects that are being worked on?          

We recently introduced many services and product features that optimize our customer experience, such as Chewy Pharmacy, enhanced shipment tracking, personalized ‘Pet Profiles’ where customers can share details about their pets, and a ‘Favorites’ feature on our app to save wishlist items. These services allow us to personalize the experience while catering to the pet’s wellness and behavioral needs.

What are your company’s core values or how would you best describe the culture and working environment at Chewy?

One of our biggest core values is having a customer-oriented culture. No matter what touchpoints you are working on in the organization, it’s always about the customer and the best possible experience for them.

We’re passionate about cultivating a positive environment in the office, too. We have a close-knit, supportive Chewy family and through an incentive point program, team members can express appreciation and recognition of anyone in our company, and redeem points for fun prizes and Chewy swag… like t-shirts, jackets, hats, FitBits, Apple Watches, and even a Chewy-branded bike!

Our open office concept encourages synergy, collaboration, and communication between all levels. Along with our open layout, our office is filled with vibrant colors, bean bag chairs, lounge areas, a putting green, and large games like Jenga, Connect 4, and Chess.

Here at Chewy, we also believe that having dogs in the office is beneficial as they can reduce stress, spark creative juices, and keep us active and stimulated. So we encourage our team members to bring their dogs to the office - you’re bound to have human and furry friends in every department!

Is there anything that you’d like to share regarding promoting diversity across your company and hiring practices?

The great thing about Chewy is that we have a culture where each team member’s ideas, talents, experiences, and perspectives are fully utilized, valued, and respected. We believe our company can be even more successful by embracing individual differences.

From a big picture point of view, what experience or traits does Chewy typically look for when interviewing and hiring new employees?

We hire bright and motivated individuals who share the same passion, dedication, and entrepreneurial spirit. We want team members who will embrace our commitment to providing pet parents with the best shopping experience.

What’s the best way to get a job at Chewy?

Apply! Also, answer our calls and emails because we move fast here and you don’t want to miss out on the perfect opportunity.

Follow our Chewy LinkedIn and @ChewyJobs Twitter pages to stay in the loop on our latest openings. All of our jobs are also listed on www.chewy.com/jobs.

Curious what we’re up to around our offices? Get a sense of life at Chewy on our @LifeatChewy Instagram.

What can someone expect during the interview process?

We want to hear all about you, who you are, and how you work. Tell us why you’re an excellent asset for Chewy and how your past achievements make it a no-brainer for us to hire you. We want to know that you have the passion and drive to make an impact on helping us become the most loved pet retailer in the world.  

When you come for in-person interviews, one tip is not to wear a suit (we’re business casual here!) and be prepared to meet with some dogs, too.

What can people expect over the course of their career at Chewy?

When you join Chewy, even though you accept a specific position, you’ll experience so much more than that! No matter what role you’re in, we are continually collaborating across teams, so you’ll be challenged and exposed to parts of the business you may not have been privy to at other companies.

Chewy is extremely fast-paced and, if you’re up to the challenge, it’s very rewarding to know you’re directly impacting Chewy’s success.

What types of activities are employees involved in at or outside the office?

We work hard to ensure we’re meeting and exceeding our goals for our customers, but we like to have fun, too! We have biweekly themed happy hours, new hire breakfasts, ‘lunch & learn’ sessions, and never miss an opportunity to celebrate company milestones and holidays. Outside of the office, we enjoy team outings to hotspots around Boston as well as wellness and fitness activities.

Share one or more random fun facts...

All of our conference rooms are named after our pets. It’s a fun way for us to pay tribute to our furry officemates. It’s not uncommon to have a meeting in Sugar, Callie, Rocky, or Xander!

Rapid Fire Questions

What types of dogs are around the office?

We have a Rhodesian Ridgeback, Bulldog, Terrier, and Woodle, and that’s just a handful, plus people are always adopting mixed breeds.

What’s on tap?

Cold brew coffee and tea, Sam Adams and Harpoon (local beer is a must!), and the awesome Bevi machine with fun flavored seltzer waters. My favorite is the Blueberry Lime.

Favorite employee perk?

Bringing Noosa to work, my Retriever mix!

Night owl or early bird?

Definitely night owl… I’m up until midnight at the earliest.

What superhero character could you see working at Chewy?

The Incredibles family would fit right in with our Chewy team. Especially Dash with his super speed and Elastigirl. She’s always pulled in many different directions but handles everything thrown her way like a boss with her elastic ability, multitasking, and quick nature.

View from your office in Boston:

Employee Testimonials

Bill Poitras, Software Engineer

It’s amazing working with such a diverse group of talented people at Chewy! I really love the culture of fun, collaboration, hard work, and innovation that I’ve seen throughout the company. I especially am impressed the lengths our company strives to wow our customers. I’ve witnessed first-hand how our customer service representatives not only encourage the passion of pet parents but share their own. I’m grateful for the opportunity to learn so much new technology and the world of e-commerce.

Becca Litwack, Affiliate Marketing Manager

The environment at Chewy is energizing and there is a strong sense of purpose. Our focused attention to the customer leads to great enthusiasm for the work we get to do. There is real comradery on the teams as well – our team frequently lunches together which lends to a friendly work environment, collaboration, and innovation. Having dogs in the office doesn’t hurt either!

Hanns Hartman, Software Engineer

My first impression of Chewy was how passionate my new coworkers were about the customer. With Chewy being my first e-commerce company, I was not sure what to expect. But after being here a little over a year, I can safely tell anybody that we are a fast-moving technology company which truly puts the customer and their pets first! The passion for the customer that I felt on day 1 still gets me fired up every day! There is nothing like getting to collaborate with a smart and driven group of individuals. We are constantly getting to solve unique and exciting problems using a great technology stack. Being a pet owner myself, it’s truly wonderful to know that each day I come to work, I’m making life a little bit easier (and hopefully better) for a fellow pet owner.

Chris Foley, Senior Software Development Manager

Working at Chewy is fast-paced, challenging, and very fulfilling. Each person here has the opportunity to have a profound effect on how we wow both our internal and external customers. We place a very high value on customer service here at Chewy and regardless of what you are working on, the customer satisfaction is always going to be #1. By everyone working towards the same common goal, teamwork organically happens in everything we do. Whether it be creating a new solution or making an existing solution more efficient, the end result is the same – a world class customer experience. This gives us a great sense of pride in our work.

We have the right balance of a start-up feel with the stability of a well-established company, which is a great combo. Due to our uber-growth in so many areas (customer acquisition, product offerings, etc.), we are always shooting for better ways to accomplish our goals…and quickly!  However, we know how to have fun as well whether it be at our Happy Hours every other week or just by talking and laughing in our office.

Shantesh Kanekar, Director of Software Engineering

The company known for best in class Customer Service knows how to keep its internal customers (our team members) happy, too. There is a positive energy and vibe the moment you set foot in the office. The workforce at Chewy is a vibrant mix of diversity in all aspects but one thing that is common is the shared belief of being the best in class at whatever job function one is in.

Colin Barry is an Editor & Staff Writer to VentureFizz. Follow him on Twitter @ColinKrash

Images courtesy of Chewy

What do the career path and day-in-the-life look for a Lead Software Engineer at HealthcareSource look like?

We connected with Ryan Fournier to find out!

Also, HealthcareSource is hiring! Click here for all of the company's job openings.

Where did you grow up?  What did your parents do for work?

I grew up in the small town of Pepperell, Massachusetts. My mother is a systems analyst, and my father is a driver for a natural gas company.

Where did you go to college?  What did you study and what were some of your initial jobs out of school?

I went to the University of Massachusetts Lowell. I studied information technology with a focus in computer science-related courses. I also received a minor in business during my time there. Initially, during and right after college, I was doing freelance Web Development for small businesses and shortly after that, I began working at HealthcareSource as a Web Developer.

What has attributed to your success thus far and has helped propel you to the position you have now?

I attribute most of my success to passion and flexibility. I have always wanted to develop software dating back to my early high school days, and I still love doing it today. For flexibility, I learned that when a challenge is presented, regardless of how hard the task may be, embracing it and completing it with a positive attitude will open more opportunities in the future. There will always be those assignments that nobody wants to do, but it’s essential to your managers, employees and beyond. In the end, it helps to drive others around you to do the same and has helped me become a better leader.

Can you share the high-level responsibilities of your current position as Lead Software Engineer at HealthcareSource?

My current position is half development and half management. I am fortunate to lead and architect/design multiple projects in parallel and contribute to the developing of those projects. In addition, I am involved with mentoring others on those projects and provide direction to help get their tasks completed.

Any tips for someone considering a career in Software Engineering?

Software engineering is full of opportunities. I believe anyone that has the passion for building software can do it with the correct training. You should never say to yourself "I am not a X type of person, so I don't think I could do it". There is no perfect "type" of attitude, personality, etc. to become a software engineer. If you can be passionate about becoming a software engineer, then one day you will!

Day in the Life

Coffee, tea, or nothing?

Both

What time do you get into the office?

I usually arrive between 7:30 and 9 AM. The time varies based on the day and my meeting schedule.

What are three things that motivate you in your role?

The first thing is the challenges that arise every day. In a typical day to day, something "unexpected" will happen large or small. This is not a negative thing, and it is just a challenge that I get to accept and work with my teams to solve.

The second thing is seeing growth. It is always exciting when you complete a tough task. It is even more exciting to help a direct report complete a task and see them get excited.

Lastly and most importantly client exposure. This can come in the form of face-to-face or simply word of mouth. Building software is a challenge, but in the end, there is no better feeling than seeing clients get excited to use things that I have built.

Every day is different, but can you outline what a typical day looks like for you?

A typical day to day starts with syncing up with my teams and the projects that we are working on. Afterward, I get the chance to help anyone directly who has questions or needs a hand with something. After that, I catch up on any code reviewing that needs to be completed. Once that is done, I work on my own development tasks. Staggered a crossed this typical day to day would be responding to emails, chat messages, and attending meetings. This, of course, is very flexible, and the order may vary based on meeting schedules.

What time do you head out of the office?

Typically, between 3:30 and 4:30 PM. This time also varies based on the day and my meeting schedule.

Do you log back in at night or do you shut it down completely?

I typically log in most nights of the week or at least have push notifications on my phone for my work emails and chats. This is however by choice as I have never been asked to work extra hours. I consider developing software also to be a hobby, not just a career.

Any productivity hacks?

Compiling some software solutions can take 30 seconds to 1 minute. Having two monitors is key. How long does it take you to read a typical email or respond to a quick chat? I bet there are some that take less than one minute. Multi-tasking can go a long way if it can be done without losing focus on your primary task. Also, as any Software Engineer will tell you, know and use your keyboard shortcuts!

What are the 3 apps that you can’t live without?

Amazon - As dangerous as "Buy with 1 click" might seem, it saves you a lot of time!

Marriott - I use this all the time to book hotels for traveling. The point system is great.

Uber - There is nothing better than staying inside warm until you can see your driver pulling up from the map!

What professional accomplishment are you proudest of?

I am most proud of my ability to grow professionally in a company. Over the last seven years it was not always easy, but it was always exciting. Going from doing small, simple tasks to architecting brand new software and enhancements to existing software is a huge step towards where I wanted to be. The tasks I was completing went from small client specific enhancements to large client specific enhancements. After that, I was working on small application enhancements which progressed towards larger enterprise-level enhancements. This eventually grew into building new large, enterprise level applications from the ground up, making architecture and design decisions while doing so. I have certainly had many different job titles, but the more important thing is I took the opportunities to grow professionally as they came which is something that is ultimately important not just to my company but to me personally as well.

Who do you admire or call upon for professional advice?

My mother has always been a great mentor to me. She understands the environment I work in and has also been through similar career advancements in the tech industry. Her encouragement has played a critical role in where I am today!

For the 60th episode of our podcast, I interviewed Shimon Elkabetz, Co-Founder and CEO of ClimaCell.

After 11 years in the Israeli Air Force, it was multiple near-death experiences that prompted Shimon’s passion for the weather.

This passion ultimately led him and his co-founders to start ClimaCell, a company that has the very ambitious mission to map all of the weather data in the world. They are combining hyper-sensing technologies that use high-performance computing, which allows them to provide weather forecasts that are much more accurate. Examples of their customer are major companies like JetBlue, Delta, and Autodesk.

The company recently raised $45M in Series B funding, and their total funding to date is now $65M.

In this episode of our podcast, we cover:

• Shimon’s experience in the Israeli Air Force and what it taught him about leadership.
• The evolution and details behind the weather forecasting industry.
• ClimaCell’s business and how they are working on building the world’s largest weather platform.
• Advice for entrepreneurs on raising funding in the early days of a business in a unique market.
• How he evaluates talent, and why founders should never compromise on the quality of people hired at their company.
• Plus, a lot more.

ClimaCell is hiring!  Click here for all of their job openings.

For the 59th episode of our podcast, I interviewed Steve Kokinos, CEO of Algorand.

Steve is the definition of a serial entrepreneur, and one who has seen tremendous success.

His company-building roots go back to when he was in college where he launched a company called WebYes, which was acquired. He was then a Co-Founder of BladeLogic, a company that went public and was later acquired by BMC for $800M.

The next company he co-founded was Fuze, one of the anchor tech companies in the Boston tech scene that disrupted the way companies communicate by removing those clunky old PBX systems to a cloud-based offering for enterprises.

Algorand is another highly disruptive company, as they have built a first-of-its-kind blockchain and cryptocurrency that is built specifically for business. The company recently announced a $62M round of funding, along with the appointment of Steve as their CEO, plus the addition of Sean Ford as its COO. You might recognize Sean’s name, as he is the former CMO of LogMeIn and was a guest on our podcast back in March.

In this episode of our podcast, we cover:

• How he built his first company and got traction with major customers while still in college.
• The story behind BladeLogic, and what it was like scaling to the point of going public.
• The aha moment behind Fuze, and why challenging market conditions ended up working to their advantage.
• All the details behind Algorand and what excites him about the company’s technology and how they are bringing cryptocurrency and the blockchain to the enterprise.
• Advice for entrepreneurs on figuring out sales and pricing.
• How to manage your company’s culture and keeping the bar for talent high through hypergrowth mode.
• Plus, a lot more.

Today’s episode is sponsored by Pluralsight.

It is amazing what machine learning can do. With mounds of data being harvested every day, there’s so much we can learn and create.

Pluralsight, the technology learning platform, is using this data for the good of tech professionals everywhere. Their AI helps you see what level your tech skills are at and recommends opportunities to keep learning. Pretty cool, right?

And they’re looking for help to make their algorithms even smarter. If changing the way the world learns technology through the intersection of Design, Product, Data Science and Engineering is right up your alley, apply to work at Pluralsight.

Want to work here? Visit pluralsight.com/venturefizz to learn more.

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At risk of alienating peers in my field, I’ve often written about my disdain for the traditional notion of human resources. I don’t take that approach to intentionally instigate; rather, I have been on a career-long quest to understand - and with best efforts- execute a model of true people strategy. In other words, I shun the transactional, traditional approach to human resources. The big question is why. For me, it’s quite simple. I believe in approaching the human elements of a business from the vantage point that people are assets in a company; not liabilities.

I’ve been fortunate to work in healthy, hypergrowth companies my entire career. I admittedly have not lived through major restructurings or mass layoffs. And while these efforts are often centered on increasing profit by tackling the biggest ticket items (think salaries, benefits, and other costly perks), these items that fall smack in the middle of the HR budget put employees squarely in the position of being liabilities.  Technically speaking, salaries fall under the “liability” column on the balance sheet...but this approach as an “employee is a liability” relates to how we engage with our people as well. We do well, you get decent pay. We don’t do well, no raise for you.

When HR focuses the emphasis on reducing the liability, that results in keeping salaries low, minimizing training, not caring about development, etc. And while companies have certainly been operating this way for a long time, the world has shifted. The transactional approach isn’t just antiquated; it’s just plain bad for the bottom line.

It’s now a necessity to move your thinking of your people from the “liabilities” column to the “assets” column.

THE COST OF NOT HAVING ENGAGEMENT

Consider the cost associated with recruiting, hiring, and training up new employees. When people are engaged and performing, you're not constantly under pressure to be backfilling those who are leaving due to dissatisfaction, low performance because they were never boarded properly, etc. In addition to the significant cost to the company, there is the impact on the customer. It’s hard to create an impactful customer relationship when both the direct and indirect relationships are constantly changing. Not only is the service level reduced, but it creates the perception your company doesn’t have it’s act together.

THE COST OF NOT INVESTING IN YOUR PEOPLE

I appreciate not every business leader subscribes to the idea that by investing in your people can actually lower your costs and maximize your profits. How is that possible? Consider this: When I joined Rapid7 nearly eight years ago, one the biggest challenges we were facing at the time was having promoted fantastic young talent into management roles...and not training them properly to actually play those roles well. It took us a while to figure out the best way to manage this, but we ultimately opted to invest money in hiring a fantastic trainer to tackle this, rather than keep throwing money at ineffective outside training. This approach proved to be such a good approach, we decided to increase the investment and add a few more people to this team, focusing on impactful onboarding, leadership training and the like. Not only have we seen a huge uptick in productivity, but we have also seen engagement increase and our lowest attrition rates in years. Bottom line: When you take money away from people in the form of their compensation, benefits, etc. you are creating a dynamic that isn’t just bad for them in terms of low morale and decreased productivity, you also create a scenario for your customers that ultimately affects your bottom line.

THE BENEFIT OF HUMAN CONNECTION

Since my first job, I’ve loathed the term “human resources.” Not only do I think it reduces people in your company down to traditional resources like my printer or a copy machine, I believe it centers the attention to your people as a liability rather than an asset. The more service-oriented your company is the more this shift in thinking matters. While technology enables us in so many ways, customers actually enjoy dealing with a competent human being who creates a positive experience for them.  When companies invest in providing the right experience for their people, their customers benefit greatly. That results in positive top and bottom line growth. What business doesn’t want that?!

Every business wants to maximize profits. However, when they focus solely on maximizing margins, minimizing salaries, benefits, training and the like, they miss the big picture. People are the lifeblood of your company. By making smart choices to invest in them you aren’t just creating a stronger, healthier environment for them; you are investing in your business’s ultimate success.

“Train your people well enough so they can leave, treat them well enough so they don’t want to.” - Richard Branson