Jeff Epstein is an Operating Partner at Bessemer Venture Partners, one of the largest and oldest venture capital firms in the United States. Bessemer was an early investor in Sage Intacct through its’ sale to Sage. Jeff is a strong supporter of Sage Intacct—many of his roughly one hundred portfolio companies use Sage Intacct for their accounting. As an operating partner and CFO to one of the largest public software companies in the world, Oracle, Jeff has helped software companies through all stages of growth.
Jeff recently presented with Sage Intacct’s Head of Operations and Finance, Marc Linden, at the Sage Intacct SaaS Finance Summit in San Jose. At the summit, he shared what investors look for in each stage of investment—the business model, growth expectations, and desired capital efficiency—for businesses seeking to grow through outside investment.
What You Need To Prove At Each Stage
Investors expect you to prove different aspects of your business model at each stage of growth to achieve your next round of funding. This eBook focuses on the early and growth stages. In your early stage, you need to prove your revenue model.
According to Jeff Epstein, this means that seventy-five percent of your sales reps are meeting their quota, and your growth is greater than 100%.
When you hit your growth stage, you’re proving your net renewal model. This means you need to demonstrate that your customers are coming back a second and third time to buy from you.