4.6 • 683 Ratings
🗓️ 21 January 2020
⏱️ 15 minutes
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Jared Seehafer is the CEO and Cofounder of Enzyme, a software company that automates life science regulatory approval and compliance. He is a 12 year veteran of the medical device and biopharma industries, having worked or consulted at organizations ranging from Amgen, Abbott and Medtronic to seed-stage startups.
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0:00.0 | Launched enzyme back. Let's see. Just about a year ago, cut out in stealth. |
0:03.3 | 2018 really came to market now about 21 customers paying, call it 50,000 bucks in terms of ACV each. |
0:08.7 | That's about, you know, about a million bucks in a run rate today. |
0:10.9 | Up from just $1,500 a month a year ago. So healthy growth there. |
0:13.4 | Obviously small numbers, but still healthy growth. |
0:15.5 | Hoping to get closer. They're flooring with breakeven right now. They raise about $3 million all in a safe, hoping to do a price down here soon to grow their enterprise sales force. |
0:22.7 | Currently, eight people really tech heavy in Sanfran and other remote locations. |
0:26.3 | No churn yet. |
0:27.2 | Too early to talk about KAC and things like payback period, |
0:29.3 | but they are obviously looking to scale. |
0:31.0 | Jared, thank you, again, so much for taking. |
0:32.7 | By the way, I should also put in the summary, again, helping medical device companies get to market and get their products to market faster and then also stay compliant. |
0:39.7 | Hello, everyone. My guest today is Jared Seahoffer. He is the CEO and co-founder of Enzyme, |
0:44.6 | a software company that automates life science regulatory approval and compliance. He's a 12-year |
0:48.7 | veteran of the medical device and biopharma industries having worked or consulted at organizations ranging from Amgen, Abbott, |
0:54.4 | and Metronic to Seed Sage startups. Jared, are you ready to take us to the top? |
0:58.9 | Let's do it. All right, complex space here. Help us understand what you do and how you make money. |
1:03.4 | Sure thing. So if you are a company making life science technology, this is going to be drug, |
1:09.5 | medical device, diagnostic, something like |
1:11.7 | an MRI, a pill. Anything that is used in the practice of medicine besides a doctor or a nurse |
1:18.4 | kind of rendering professional judgment, there's a complex regulatory pathway you have to go through, |
1:23.4 | and it's different for every country. In the United States, that's the FDA. Most people are familiar with that, |
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