Scaling Borders: Crafting Global Software Giants from US/India Roots
Aneesha Raghunathan (Investor, SGE)
Shree Vardhan Saraf (Investor, SIG Ventures India)
Our first investment at SGE in 2007 was in a US-India business called CashEdge, a financial technology and payments company that was ultimately acquired by Fiserv for $500M. Over the past two decades, our SIG Ventures India and SGE team have been privileged to deploy almost $1B in 20+ dual shore companies, including HighRadius, Lentra AI, Evive, Zyme, and HackerRank, collectively valued at over $5B. Through our Portfolio Value Creation team (PVC) and Growth Fellows program, we have gained valuable expertise in scaling India-US businesses, with a focus on strategic functions such as go-to-market and executive hiring.
We believe the perception of India as an offshore geography for just software development is incredibly limiting. Our most successful companies invest in and leverage their India operations to hire the best-in-class talent across strategy, sales, and product operations. Below we aim to share insights into building successful cross-border organizations by highlighting best practices from talented operators at two portfolio companies, Urvish Vashi, COO at HighRadius, and Sandeep Mathur, CRO at Lentra.
Use the peer partner model to unlock internal operational scale across the sales and product organization
One of the models that HighRadius successfully implemented to optimize global operations is the peer partner model. This model involves having one client-facing representative stationed in the US and up to 5 counterparts based in India for each functional team, creating a force multiplier across the organization. The effectiveness of this model is evident in various areas within the organization:
- Enhanced Sales Productivity:
HighRadius leverages this model to boost the productivity of in-market sellers. By assigning two subject matter experts (SMEs) located in India to support each in-market seller, the sellers can dedicate more time to building relationships with prospects instead of being overwhelmed with business analysis or lead qualification. This shift has resulted in better KPIs around quota attainment and win rates. When adopting this model, it is crucial to align the goals of both the US and India teams to maintain an equal relationship.
- Product Implementation Efficiency:
While in-market employees focus on stakeholder management, the India-based delivery team handles product configuration and data migration. This model optimizes efficiency by capitalizing on the strengths of each team. As HighRadius scaled, they found success in hiring disproportionately in India while keeping most global leaders in-market for this function.
Consider strategic GTM partnerships to accelerate market entry in the US
To establish credibility quickly in a new geographic market, Lentra partnered with a top-tier management consulting firm that has a suite of US and global customers within the lending space. The partnership helps speed up go-to-market and onboarding for new customer logos and helps the partner firms provide innovative technology to their customer base while allowing them to focus on service delivery. Lentra also partners with IT consulting firms for post-sale implementation support and larger digital transformation projects where its technology and expertise have an advantage. Partnerships can be key to building a global India-US presence as many of these firms have clients across both geos and are looking for cross-border capabilities.
Take tactical steps to create functional and cultural alignment before investing in scaling your cross-border organization
1. Analyze function distribution: Analyze the distribution of client-facing and non-client-facing tasks within a function to determine which tasks can be shifted to the India team. This helps in optimizing resources and roles between geographies.
2. Define clear goals: Ensuring consistent quotas and expectations across geographies prevents imbalances and fosters collaboration. Clear goals align the teams and create a shared sense of purpose.
3. Screen for alignment in leaders: During the hiring process, it is crucial to screen for leaders who are aligned with the peer partner work style and have experience working in a global environment to ensure a seamless fit within the organization.
4. Consider building in-house: While using a third party to establish an India/US presence may provide initial benefits, it can become challenging to bring operations back in-house without the right people and established processes. Consider building an in-house team from the start to maintain long-term control.
5. DIY till PMF: During the 0-1 stage, it’s crucial to do things yourself and not invest in resources (especially executive hires) until PMF is established. Once there are signs of PMF, focus on hiring individuals who understand how to create playbooks and have experience at companies that sell through to similar segments of customers.
Want to hear more about best practices and connect with other operators who have successfully built global software giants? Interested in benchmarks around GTM success or hiring ideas? Reach out to us!
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Credits: Special thanks to Urvish Vashi and Sandeep Mathur for their valuable time and insights.
Team Susquehanna: Aneesha Raghunathan (Investor, Susquehanna Growth), Shree Vardhan Saraf (Investor, Susquehanna Venture Capital)