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Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Austin Ogilvy, Founder of Thoropass, a continuous compliance and audit management platform that’s raised $98 Million in funding.
Here are the most interesting points from our conversation:
Choose a market that is both large and expanding. This increases the potential for rapid growth and minimizes the struggle to gain traction. Austin's success with Thoropass compared to his previous venture highlights the significance of market selection.
Efficient compliance management can directly impact your top line. By reducing the friction caused by lengthy security reviews and compliance checks, you can accelerate your sales cycles and close deals faster, as demonstrated by Thoropass's focus on automating compliance audits.
Stay focused on delivering the best product and customer experience without getting sidetracked by competitors. Thoropass succeeded by maintaining a clear vision and not being distracted by the noise in the market.
Partner with co-founders who complement your skills and bring diverse expertise to the table. Austin's collaboration with Sam and Eva, who brought deep technical and industry knowledge, was crucial in addressing the complex compliance challenges effectively.
Invest time and resources upfront to choose a unique and memorable company name. The rebranding from Laika to Thoropass was a significant and costly process, underscoring the importance of getting it right from the beginning to avoid later disruptions.