Commonly Used Acronyms (CUA)
Enterprise start-ups are often faced with this fundamental question: how can they establish an effective, repeatable, and scalable sales model? We are working to expand upon the Enterprise Sales Guide, a definitive guide to best enable our portfolio and community with an area of focus in enterprise technology sales. In doing so, we have created a glossary of terms and principles, specifically for enterprise technology sales terms and principles.
See below for some of the essential enterprise technology sales terms that have been added to our internal enterprise glossary. Please let us know in the comments section if you have any terms to add.
After a lackluster year for enterprise technology venture capital investments, 2017 kicked off with a record breaking quarter for enterprise technology startups.
Following 4 straight quarters of decreasing investment, investors poured a record-breaking $5 billion dollars into enterprise technology startups in the first quarter of 2017 alone – a nearly 80% increase from the previous quarter – across a record number of 237 deals.
These enterprise startups – solving problems for world’s largest companies around data & analytics, cloud-native infrastructure, cybersecurity, and AI-powered business applications for the future workplace – are building businesses by capturing some of the close to $3.5 trillion that the Global 1000 and Fortune 500 spend every year on software and technology.
And they’re having a moment. Coming on the heels of Cisco’s massive $3.7B acquisition of AppDynamics right before their public offering earlier this year – and MuleSoft’s 45 percent pop on their first day of trading two weeks ago – enterprise is clearly in vogue.
With Alteryx’s IPO last week, there’s still a robust lineup of enterprise exits coming down the pipeline, including Presido, Okta, and Yext, who have all filed S-1s in preparation of an IPO, and speculation from many more including Cloudera, DocuSign, Domo, and Tenable Network Security.
Earlier this March, we partnered with NEA to host a special town hall at Work-Bench with Sallie Krawcheck, author of the best-selling book Own It: The Power of Women at Work. One of the most influential women to have ever worked on Wall Street, Sallie Krawcheck shared an honest view of both her professional and personal experiences in navigating a male-dominated industry, and her best tactics and tips for success.
At Work-Bench, we believe one of the great challenges we still face in enterprise technology is this very real gender gap that persists. And this is why as a venture fund we're passionate about supporting women in enterprise tech – across our women's lunches, speaker series, and recently launched #hackthenetwork mentor program.
The sold-out audience was an incredible and diverse group of women across our NYC enterprise tech community, as well as supportive men, and we're excited for more to come. We’ll be hosting many more town hall series this year here at Work-Bench, as well as our first-ever Women in Enterprise Tech Summit this fall, so sign up here to learn more.
Follow along with the terrific conversation that was trending on Twitter using the hashtag #SallieWB, and watch Sallie's keynote below.
Like we've said before, mentors at Work-Bench are part of the heart and soul of everything we do. Given the unique set of procurement, sales, and pricing challenges enterprise startups face, we've seen time and time again how valuable it can be to hear the buyer's perspective or have a voice on the other side of the table, especially when all it takes is one contract to make or break an early stage enterprise startup.
From leading Fortune 1000 executives to enterprise entrepreneurs with hundred million dollar exits, we're lucky to work with such great advisors to our portfolio companies. See the full list of mentors in our Work-Bench network, and join us in welcoming five new mentors to our Work-Bench family: Cassie Lancellotti-Young, J Ram, David Birnbaum, George Brandman, and Kiran Narsu.
Last week, startups, corporates and academia braved a Nor’easter to attend Spark Summit East in Boston. Spark is an open source, big data processing engine originally developed at Berkeley’s AMPLab by Matei Zaharia. Used behind the scenes at some of the largest data applications at web scale companies, Spark makes data analytics fast. Today, we’ve reached a pivotal moment where forward thinking enterprises like Capital One, Walmart Labs and others are working with Spark to better serve their customers. This post will explore key takeaways from Spark Summit, while providing details on the leading use cases and companies in the emerging ecosystem.
The most successful businesses over the next decade will deliver highly personalized experiences for their customers, powered by advanced streaming analytics. A key theme seen in a number of companies both presenting and exhibiting at Spark hinted at a common goal: building a best in class data pipeline to run models easily and securely. Webscale companies have robust data management practices through in house systems and a combination of open source and commercial tooling. This is, however, a gargantuan undertaking for a large enterprise and something that even the most forward thinking corporates are keen on setting up. Several of the attending startups - like Streamsets, Kofa, and Qubole - attempt to address this.