E-Docs
edocs, Inc. Carlos Pero 3/3/04 edocs is an Internet company that is looking for venture capital to take their product to market. With friends and family financing, they were able to complete the first stage of product development; a worthy accomplishment considering many business plans typically need a seed round to get that far. Unfortunately, it seems the local venture capital market has been uninterested in them or the opportunity. By working their network of contacts, they were lucky to gain the interest of Jim Moran, and executive in the industry, who then arranged a meeting with Jonathan Guerster at Charles River Ventures. Guerster was already looking for the right bill presentment company to invest in. With Jim Moran pledging to join edocs, Guerster viewed this as a material event and fast-tracked the due diligence process, meaning he was very interested and perhaps eager to now invest in this company.
The People The two original founders, Kevin Laracey and Kris Canekeratne, did well for themselves so far. They should be commended for securing the original resources necessary to develop the first release of the product. The obviously had the interest, desire, and skills to find the market opportunity and initially execute on it by developing the product, and even securing alliances with CheckFree and CyberCash. When Kevin Laracey met Jim Moran in person at just the right moment, Kevin was continuing to develop business for edocs. But his background was a mix of
technical and marketing. So not only would Moran bring the first interested investor to the table, he also would add significant industry experience with an emphasis on sales and true business development. Besides the members of the company, it is important in this case to examine the people in the venture capital firm. Charles River Ventures focused on high-potential startups in the communications, software, and information services industries, so certainly they were a good match for edocs.
The People The two original founders, Kevin Laracey and Kris Canekeratne, did well for themselves so far. They should be commended for securing the original resources necessary to develop the first release of the product. The obviously had the interest, desire, and skills to find the market opportunity and initially execute on it by developing the product, and even securing alliances with CheckFree and CyberCash. When Kevin Laracey met Jim Moran in person at just the right moment, Kevin was continuing to develop business for edocs. But his background was a mix of
technical and marketing. So not only would Moran bring the first interested investor to the table, he also would add significant industry experience with an emphasis on sales and true business development. Besides the members of the company, it is important in this case to examine the people in the venture capital firm. Charles River Ventures focused on high-potential startups in the communications, software, and information services industries, so certainly they were a good match for edocs.