The SaaS CFO 50M Raised to Bring Energy Intelligence to Large Global Companies
In this episode of The SaaS CFO Podcast, our host Ben sits down with Mark Chung, co-founder and CEO of Verdigris, to discuss their energy intelligence platform. Mark shares his journey from his background in electrical engineering to founding Verdigris in 2012 and the challenges of balancing a hardware and software business model.
He provides insights into the company's recent $10 million funding, their go-to-market strategy, lessons learned from their journey, and their focus on metrics such as contracted ARR and cash flow.
Mark also sheds light on the company's future plans, including their efforts to expand their customer base and integrate new capabilities with the grid. Tune in to hear about Mark's entrepreneurial journey and Verdigris' mission to make a meaningful impact in the energy industry.
Show Notes:
00:00 Born and raised in Texas, studied electrical engineering at Stanford, worked in semiconductor industry, involved in startups and eventually joined Broadcom.
03:06 Companies have varied data use for carbon neutrality mandate.
06:47 The reaction is positive. Legacy providers underserve the market. There's a desire for stable cloud-managed solutions.
10:09 Founders had credibility from previous success. Initial fundraising was easy due to reputation. Challenge was balancing product development with building a business. determination helped overcome tough times.
14:44 Biggest lesson: hardware business is tough. Supply chain complexities, capital outlay challenging.
16:02 Founders must reflect on their purpose and adapt to challenges.
20:37 Company focusing on aggressive growth, new partnerships, revenue, and hiring. Expanding customer base and building new capabilities.
Links:
SaaS Fundraising Stories: https://www.thesaasnews.com/news/verdigris-raises-10-million-in-funding
Mark’s LinkedIn: https://www.linkedin.com/in/markchung/
Verdigris’ LinkedIn: https://www.linkedin.com/company/verdigris/
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