This would be the company’s 6th consecutive year of posting phenomenal financial results, and they would be using this particular generous investment for further marketing and product development as well as international expansion.
The company’s CEO Michael Phelan and Vice President of Marketing Yama Habibzai came together to provide us with more information about the company and the recent investment through this e-interview with Lead411:
Who are your competitors and how are you different from them?
We find a lot of legacy providers in this space, and we end up replacing typically companies like CA which have a number of different monitoring products depending on the needs of customers; Infovista and a handful of lesser known, more focused solutions..
What percentage of your marketing budget are spent on the following?
B. Social Media Marketing – 1%
C. SEO – 2%
D. PR – 9%
E. Direct Marketing – 1%
F. Other – 87%
What marketing tactic has given you the highest ROI? What percentage ROI do you get back on this?
Tradeshows has historically given us the most customers. But from an ROI perspective, the web site, and our software download has produced the highest ROI.
What do you plan to spend your new funding on? Product development? Marketing?
To effectively grow our company, we need to accelerate investment in product development, marketing, and international expansion. We will also make the investments required to pursue mid-market opportunities.
If you are the CEO, what are your biggest challenges?
My biggest challenge involves people; making sure we have the right people in the right places at the right time. Moving from the start up stages to the high growth stages, involves different skill sets. SevOne has been extremely fortunate to have co-founders, who have developed the required skills as the business has matured. We have also recruited very talented, experienced executives. Together, we have built a Culture of Awesome.
How many employees do you have?
When were you founded?
How much did your revenue increase(if any) this year over last year?
Our bookings have doubled year over year.
Want to know more about this recent funding? You can check on this news release here.