This week on the Scale Academy Podcast, Jeremy Vaughan, co-Founder and CEO of Tauruseer, joins Ned and Hilmon to talk about what Tauruseer is, the story behind it, and their strategy and go-to-market plan.
Jeremy created Tauruseer for a very personal reason. His daughter is a type-one diabetic who uses a constant glucose monitoring system. A couple of years ago her system went down through the night, and all of the alerts and notifications just stopped working. Her glucose became dangerously low, which could have led to serious side effects and problems. He quickly started looking into the issue and found that they were not the only family being affected by the system randomly going down and that it had, in fact, been over two and a half years since the company had put out an update for the system. Find out more about what Jeremy did next at 01:52.
What is Tauruseer?
Tauruseer is a translation and correlation engine that brings context and insight through automation so that everyone can come together collectively to solve a problem. It is a risk management solution platform. Over the last many years, Jeremy has been working relentlessly with engineers to simplify their language into a language that executives can understand, bringing point solutions and helping people get on the same page faster in order to close out risks. And the best part? Tauruseer is a no-code platform. Learn more about this at 05:10.
The Journey to No-Code
Over the twelve years he spent with engineers, Jeremy did a lot of listening and a lot of learning. He asked every question he could think of, and then he asked the engineers to simplify the answers. He was never afraid to admit he didn’t understand, and every time he took his product to CTOs and CISOs, he allowed himself to fully accept their feedback so that he could keep working to make changes and improvements until everyone understood where he was trying to go and what he was trying to achieve. Listen at 09:23 to learn more.
Focus on the Challenges
There was a point in time where Jeremy realized that the concepts that he was trying to solve for were pretty unknown to a lot of people. So, rather than focus on presenting a shiny new product in order to get feedback, he decided to stop showing the product and really focus on the challenges around the concept. He started asking questions and really brainstorming what the challenges were that they were trying to overcome, and this is what allowed him to get the feedback that he needed in order to start moving forward. Learn more at 12:26.
One Person Can Change Your Entire Trajectory
At 15:05 Jeremy talks about the challenges that came along with having a product where no one knew or understood the concepts surrounding it and how frustrating that was. However, one day he was introduced to a CISO who changed the entire trajectory for him. He sat down with Jeremy and pointed out areas that he thought the team should focus on, areas to research, and told him to come back to him when he had a solution. From then on he continued to work with the team and guide them, and that made all the difference.
At 17:24 Jeremy explains the trouble he is having trying to get VCs to fund his product. They either focus so heavily on the technology that they miss the problem and solution, or they have no technical understanding and have to bring in too many other people to evaluate, and then it just becomes too complex, so they pass. And so he continuously repeats this process of kissing frogs until he finds the one that ‘gets it’ and is ready to seed the investment.
Although Jeremy has run into some trouble finding funding for his product, he has still been able to move the concept forward and continue to evolve the platform to something more and more people can understand. And this learning of what it is people do and can understand has helped them shape their pitch. Jeremy explains that they have learned that they need to have different pitches depending on the personas they are pitching to, as well as different value propositions. Learn more about Jeremy’s challenges with finding the right pitch and getting the messaging fit at 22:52.
Jeremy explains that, while they feel they have the market segmented to who they need to focus on for sales, they are still on a huge learning curve. They are only targeting smaller SaaS-heavy, software-heavy organizations who are governed by regulatory compliance, and their in is usually through VPs of engineering or VPs of IT. However, because Tauruseer is a ultimately a risk management solution platform that could really help companies on the business side, they are trying to figure out how to capture and sell to that side. Jeremy also explains how they are being very specific with forming channel partnerships and are taking a more scientific approach to choosing and forming those relationships. Learn more about this at 25:21 and 29:07.
Volume is Not the Answer
At 32:36 Jeremy talks about how their percentage of revenue is relatively high because they incentivize partners really well. Rather than going for volume just to get a logo on the site, Jeremy decided to scale it back and work very closely with his partners and gain their trust. Continue listening to find out more about how working so closely with his partners has worked in Jeremy’s favor.
Strategy, Strategy, Strategy
At 35:24 Jeremy mentions that they are beginning to ramp up because they are starting to be approached by other channel partners because they like the approach Jeremy and his team are taking. They see how strategic and specific they are being in trying to capture the value proposition together, and they like the targeted messaging.
Jeremy explains that Tauruseer is currently in the process of raising a seed round. They know what they need to build and what direction they need to go in, and now they just need firepower. Learn more at 46:11.
01:52 The Why
05:10 What is Tauruseer?
09:23 The Journey to No-Code
12:26 Focus on the Challenges
15:05 One Person Can Change Your Entire Trajectory
17:24 Kissing Frogs
22:52 Moving Forward
32:36 Volume is Not the Answer
35:24 Strategy, Strategy, Strategy
46:11 What’s Next