Just 2% of British startups make the transition to scaleup - with investments in people and technology often being the deciding factors
Scaleups should be greatly admired, especially considering that only 2% of British startups make it to the scaleup phase, going on to create about three times more jobs per week than FTSE 100 companies.
The scaleup hiring spree is noticeably widespread. Teams are getting bigger with more developers, engineers, product managers and a highly motivated salesforce. Hand in hand with investments in people come investments in more sophisticated platforms and tools, like an enterprise-grade eCommerce platform or a new dynamic website. Basically, anyone and anything obvious that will boost innovation and create more customers will become funding priorities.
In terms of big hires, the investors favourite, a CFO, may join — ensuring cash burn is under control as preparation begins for the next major milestone, such as an IPO.
Scaleups are driven by visionary founders who are passionate because of the size and scale of opportunities for growth.
But growth can be very painful, and will only convert to strength if founders are supported by the right people and the right resources to deal with the scope of growing pains.
Today, one of the most severe pain points for any business is knowing how to deal with the scale, complexity and depth of cybercrime. For scaleups, particularly Cloud natives whose entire business model is online, CISOs make a great addition to the c-suite. They are influential decision makers on processes, IT investments and strategic planning, and will send a clear message to customers and investors about how the company intends to protect its own vision as well as the interests of its customers for the long-term.
Learn how to secure critical assets and data, thus ensuring agility, scalability and ultimately, your business success, by downloading our whitepaper with 5 essential security technologies for scaleups.
Jay Gupta, Head of Solutions Sales & Marketing, UKI - April 10 2018