Webinar: Evolving from SaaS to Marketplace: Key Lessons for Tech Leaders in Making the Jump

The opportunity set for SaaS is on the rise. The original SaaS model that revolutionized software is now enabling SMB and vertical SaaS companies to evolve from tool companies to market makers. Pioneers of these new SaaS models not only provide a tech platform to service providers, but also strengthen their position by extending into marketplaces. When these providers aggregate enough supply, they leverage their data and mindshare advantages to create two-sided marketplaces that enjoy powerful network effects. The result is a much stronger financial profile, deeper moats, and a significantly larger TAM.

TCV recently hosted an offsite focused on emerging trends that we believe are dramatically expanding the opportunity set and economic strength of vertical and SMB SaaS companies. 

We were fortunate to have Brian Rothenberg as a speaker. Before joining a leading new early stage venture firm Defy as a Partner, Brian was on the leadership team that took Eventbrite from startup through IPO – while evolving the company from a SaaS platform for event venues to a marketplace for live experiences.

In this conversation with John Burke, EVP at TCV, Brian explains the steps and structures necessary to accomplish this strategic transformation and reach scale. He also offers priceless tips on timing and managing relationships with original SaaS clients that leaders can apply as they focus on dramatically expanding their addressable markets.

To talk about SaaS opportunities and get a copy of the presentation, please contact John Burke or Katja Gagen at TCV.

The statements, views, and opinions expressed are those of the speakers and do not necessarily reflect those of TCMI, Inc. or its affiliates (“TCV”). TCV has not verified the accuracy of any statements by the speakers and disclaims any responsibility therefor. This post is not an offer to sell or the solicitation of an offer to purchase an interest in any private fund managed or sponsored by TCV or any of the securities of any company discussed. The TCV portfolio companies identified, if any, are not necessarily representative of all TCV investments and no assumption should be made that the investments identified were or will be profitable. For a complete list of TCV investments, please visit https://www.tcv.com/all-companies/. For additional important disclaimers, please see “Informational Purposes Only” in the Terms of Use for TCV’s website, available at https://www.tcv.com/terms-of-use/.


Vectra raises $100 million led by TCV to secure the cloud using network threat detection and response

SAN JOSE, Calif., June 10, 2019 /PRNewswire/ — Vectra, the leader in network threat detection and response (NDR), today closed a $100 million round of funding led by TCV, one of the largest growth equity firms backing private and public technology companies. Existing investors also participated in the funding round, bringing the company’s total funding to date to more than $200 million.

Vectra will use the investment to accelerate global market expansion and R&D innovation, solidifying its Cognito platform as the market-leading solution for artificial intelligence (AI)-driven cloud security using NDR.

The cloud has critical security gaps that leave organizations vulnerable. Cyberattackers take advantage of these gaps without leaving a trail of evidence. Underscoring this risk, a recent survey by the SANS Institute found that one in five businesses had serious unauthorized access to their cloud environments this past year alone, and many more were unknowingly breached.

The Cognito platform addresses these security gaps by providing 360-degree visibility into cloud, data center, user and internet-of-things (IoT) infrastructure, leaving attackers with nowhere to hide.

“TCV has an extensive track record of partnering with enterprise security companies, including Rapid7 and Splunk, from growth stage to public,” said Tim McAdam, general partner at TCV and a member of the Vectra board of directors. “In our research on the category, it became clear to us that Vectra was rapidly gaining momentum with customers by rethinking the way enterprises view both network and cloud security. The Vectra Cognito platform is poised to become requisite in the security infrastructure of multinational enterprises and midsize businesses alike.”

“The cloud has inherent security blind spots, making it imperative to eliminate cyber-risks as enterprises move their business to the cloud,” said Hitesh Sheth, president and chief executive officer at Vectra. “The Cognito platform enables them to stop hidden cyberattacks in the cloud. We look forward to partnering with TCV and our existing investors as we continue our rapid growth.”

Vectra experienced 104% growth in annual recurring revenue in 2018 compared to 2017. The company will continue to ramp up initiatives aimed at addressing the global deficit in cloud security, innovating on its existing platform and expanding its global customer base.

Cloud Security Solutions Forecast, 2018 to 2023” by Forrester Research, Inc.

About Vectra
Vectra® is the leader in network detection and response – from cloud and data center workloads to user and IoT devices. Its Cognito® platform accelerates threat detection and investigation using AI to enrich network metadata it collects and stores with the right context to detect, hunt and investigate known and unknown threats in real time. Vectra offers three applications on the Cognito platform to address high-priority use cases. Cognito Stream sends security-enriched metadata to data lakes and SIEMs. Cognito Recall is a cloud-based application to store and investigate threats in enriched metadata. And Cognito Detect uses AI to reveal and prioritize hidden and unknown attackers at speed. For more information, visit vectra.ai.

About TCV
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since inception, TCV has raised over $15 billion in capital and has helped guide CEOs through more than 120 IPOs and strategic acquisitions. TCV’s investments include Airbnb, Altiris, AxiomSL, Dollar Shave Club, EmbanetCompass, EtQ, ExactTarget, Expedia, Facebook, Fandango, GoDaddy, HomeAway, LinkedIn, Netflix, OSIsoft, Rapid7, Rent the Runway, Sitecore, Splunk, Spotify, Varsity Tutors, Webroot, and Zillow. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit https://www.tcv.com.

Media contacts
John Kreuzer
Lumina Communications for Vectra
vectra@luminapr.com

Katja Gagen
TCV
kgagen@tcv.com 
415 690 6689

SOURCE Vectra

Related Links

https://www.vectra.ai