Evolv: "We're A Channel First Company"
Evolv is one of the newest physical security unicorns, raising nearly $500 million earlier this year, and now rapidly expanding its sales organization.
We spoke with Evolv's CRO A.J. De Rosa who declared that Evolv is a "channel first company", discussing how they are hiring numerous physical security industry veterans to ramp up their channel sales efforts.
For background, see our coverage of Evolv's recent financials and 590% YoY growth.
**********
***** ***** * ******* ********* ****** primarily ** * ******* **** ********* paying $*,***-*,*** *** * ***** *** Evolv's ******** *** ******** **** * years. **** **** ***** ** ****** of * "******** ************" ***** ********* pay ~$**,*** ******* *** *** ******** but ***** **** **** * *-**** contract, **** * ***** ******* ************ fee (~$*,***) ** *** *****'* ********.
Industry *****
***** *** ***** ******** ******** ******** including:
- *** *****, ******** ** ******* *****, ****** Bosch, ****
- ***** ********, ********* ******* *******, ****** ******** and *******
- **** ****, ******* *********, ****** *********, *******
- ***** **********, ******* ** ***** *******, ****** March ********
- **** *******, ***, ****** **** *** ***** Networks
- ****** ******, ******* ** ***** *******, ****** Bosch, ****, *********
- ******* *******, ******** *********** ********, **** *******, former *******
- ***** *****, ******** ** ******* *****, ****** Tyco/JCI
**** ** *** ** ********, ** Evolv's *** ** ***** **** ****** investor's **** ********** **** ***** ** looking *** ***** **** *** ******** security ***** *** ******* **** ******* relationships *** ***** **** * ****** background **** *** *********** ********. ****** a ****** ******* ** ****** *** physical ******** ** ****** ***** ** key:
* ****** ********** *********** ********** ***** executive, **** * ***** ***** ******. And **’** ******** ******* ****** **** the ***** *****, *** **** **** the *** *****, *****. **** **** the ******** ******** *****, **** **** video *********. ** **’** *** ***** or **** **** **** ** **** that *****, **** **** ************* ******* with *** *******, *** ****’** **** to ******** *** ******* *** ******* with **** ****** *******. ******* ** sell ** ****** **** ********** *** formerly **** *** ****** *****, ****** police ********, ****** ******** *** ***, we’re **** ******* **** **** ** find ******** **** ****, **** **** a *****-** *******. ** ****’** ******** coming **** ***** ***** *******, ********** sales, **** *************, ***, **** *** physical ******** *****, *** **** ****** from *** ****** ***** ** ****** that **** * ***** ********** ****** of ****** ****** *** *** *** decision ****** *** ******** ********.
*** ** **** ********** *********** ** us:
** ***** ** ** **** [******* first] ** **** ** **** ****** within *** ***** ************ **** **** how ** *******, *** ** ****** and ******** *** ******* ******** *** work ** **** ******** ******* *** channel
Expansion *******
** **** **** ***** *** ~** Customer-facing ********* *********, **** ***** ** grow ** ** ** *** ** 2021 *** ** ~*** ****** ******* 2022.*** *****'* ****** ****.
Started *** ****
***** ******* **** ****** *****, *** the *******'* *** **** **** **** reverse *** *** ******* ******* **% of ***** ** **** ******* *** channel *** **% ****** ** *** future:
** *** **** ******** **** **** year, ** ******** **% ** *** sales ** **** ******* *** ******* and **** **% **** ****. ***** on ** *** *****, ** ****** that ** ******, ** ****, *******, 70% ******* *** ******* *** **% direct. **, ** **** * **** channel-friendly *** ******* ***** **-**-****** ********.
Channel *****
** **** ********** **** **** *** building *** *** ******* / ***** organization **** * '*******-*****' ********, ****** that:
******* *** **** ***** **** **** we ** ** ************ **** ***'* have ** *********.
*** **** ******* ** ***** ** installation, **************, *** ******* ** *** product ** *** *****, ***** **** to ** **** ******* *** ******* allows ** ** ******** ** ***** the ******* ******* *** ************ *** the ****** ** ******* **** ** put **** *** *****, ******* ****** having ** ***** *** ****** ****** the ************ ** **** ** ** would ** ** **** **** ***** it *** ******
Integrator ***********
*********** **** *** ************* **** ******* detectors ** ****** ********* ** **** would ** * *** ******** *** most ***********. *****'* ******* ******** ***** sell (*** ******** *** ******* ************ sales) ******** ** *** ******** *** then ***** *** ***** * ***** dealer *****. ***** ******** ** ******* on ******** ****** *********.
*** ****** ** **** **** ********** a *** ******** / ******** *** most *********** **** **** **** ***** in * ********* **** ** ******* that *** *** *********** (****** ***** and ******).
*** ********, ** ** ***** **********, is **** ** * *** ******** dollars * ***** **** **** ********* be ** ******** ****** ** ****** organizations *** *** ** ***. *** sweet **** *** *********** *** ** education, ** ******* ***** **** *********** budgets / ****** *** ******** *********.
** **** ** **** ***** ***** this ****.
Vote / ****
******, * **** ***. ** *** expect ** ** ** ***** **** others **?
** **** *******, *********, ** ** a ****** ** *** ******** *** a ******** ******. * ****** ***** is **** **** ** *** ************ we **** ************** *** ******* ******** that *** ** **** *** **'* a **** ********* ****.
*****’* *** ***** ****** ********* ** companies ****** *** ** *** ******** wanting ***** ********* ******* ******* *** a ******* **** **** ****** ***** and ***** ******** *** **** *** it **** ******* *** *** *** pays “**********” **** ** ************ *** updates. **** *****. 🙄
**’* **** *** *** ** * controlled *********** *** **** **** *** analytics ** **, **’* *** *********** that *** ***** **** ******* *** the ******** **** ****** ** *** real *****. * *** *** **** NOT ********* ******** ** * ********, especially ****** **** ******/*** *********.
**** **** *** *********** ******* ** covid, **** ** * ***, *** that ***’* ********* ***** ******.
*** ***** ************** ** **** ******** is **** **'* *** **** ***** video. * ***'* **** *** **** it ***** *** * ***** ** has **** ********* **** **** ****** to '***' * *** **** **. That's *** ******** ***** ***********, **** it *** '***' **** **** *** hidden ******* **** *** *** ********* on *** ******* ***** *******.
****'* * ****** ***** **** ** conclusion ** * ****** *** ********** know **** ****** *****.
****** * ***** ** ******* **** at ** ********* **** ** *******.
**** ******* *****.
********** ****** ** ******** ** ***** cams. *** ***'* **** ** **** a ***** ** ****** * *******. You **** ** **** * ****** to **** * ***** ** ******.
*** * ** *****, * ***** not "*********" ******** ****** *** *** rising ******** *******. *** **** **** can't ** **********. *** ******** ******** around *********** ** ********* ****** **** absolutes *** **********. **** **** *********** of ********* *** **** *** ******** alarm ***** *** *** ******.
******, *** ***** **** **** ** impact ** ************, ********** **** **** artificially ****** ****** ************.
***** ... *** ***** **** ********* " ***% ********* ** **** *** weapon" ** ***** ********** ? * believe *** *** ** ******** * lot ** ******, **** ****** *** hour ** ********* **** ************* ****** this ***** ******** ***** ******* ** an ********** ********** ** ********* ** be *** ** ***** **** ***** current ****** ** ***** ** ******* spread ** *****.
**** **** ****** **** ****** *** considered * ****** ****** *** **** try ** ******** ****, *'** ******. The ******* ** *****. ***** ************* I've **** ** ****** ** *** point ** ***** *******.
*****, ******! **** ******** **** *** seen? * ** ********** ** ******* more.
** *****'* ****** ****** *** ********* to *** ***** ****** * **** heard ** ****, **** ****'* ** their *******. *** ***** ***** ******, schools *** ********* ****'* * ****** big *****. ******** **** ** ***** but **** ***'* *** **** ******.
*** ***** ***** *'** ****/***** ** by ********** ********** ** ** ************* venue, ** **** **** ****** ** the **** ***** ** *****. * major ******* ***** *'** **** ** presenting **** ******** ** ** ****** contract ******** ***** *******. **** ** only ******* ** ** *****'* ******** staffing ***** ** *** **** ******** touchpoint ***** ******* *** ***** *** seating ** *****.
** **** *** * **** ***** with * ********** ** ****** **** week *** ** *** **** * failure. * ***'* **** ** ***** that ******'* ********** ******** *** ** is ******* ********** **** **** *****'* seem ***** ****** ***.
*****, * *** *** *********** ** see ***** **** ** * ******** environment *** ** ** ********* **********. During *** *************, ** ******** ****** up * ***, ****** ** * bag, ** * ***'* *** ******* in ** ***-***** **********. *** ******* to **** ** *** ******** *** location ** *** ******* ** *** person's **** **** *** ** *** other ***** ******* ****** ** *** outstanding. *'** **** **** ** *****'* competitor's ********* ** ******* ******** **** miserably.
** *** ******, ***** ***** **** is **** ***** **** ** ** meant *** ******* ** "**** ********" which ***** *********** ** ***** ******* knives, ***** ******* ******, ****** ******** knives, ***. **** **** ******** ****** knives, ***** **** ******, *** ******* knives, ***** ***** *** ** ******** in * **** ********* *******, *** then *** *** **** * ****** rate ** ***** ******.
******* ** ** ******* ******* **** the ****** **** **** **+ **** metal ******** ********** **** ****** ***********. When *********** *** ****** ** ****** large ****** ** ****** ** * single ******** ***** ** **************** **** trying ** ***** ******* ******** ** a ****** ** **** *********.
** **** * **** ***** ******** that *** **** ***** **** *** over * **** *** **** ** a ***** ***. ********** **** *** large ****** ** ****** **** **** through **** ** * ***** *****.
**** ******* ***** ****** ***** ***** recurring ***, **** *** **** **** working? **** *******?
***, *** **** ***** *******. ***** told ** **** *** "****** *****" to ***** ******* ** *** ********, which ***** * ************. ** ******* subscribing ** *** ******** (*.*. ****** the ********* ***), *** ******* *** no ***.
******* **** *****'* ******** **** ** discounts ** *******:
** ** **** ** **** **** we ****** ** *** ******. *** standard ******* ******** *** **% ********. And ** **** **** * ****** discount **** *** *** *******. ** we **** ******* **** ** **** through *** *******, **** *** ****** is ***** ** **** **** ******* we ********* *** *** ***** **** the ******* ** **. *** ** also ****** ***** **** *** *********** on *** *** ***** ** ****. So ****'* **** *** ******** **. It's ********. ******** **** *** **** one *** ** ***** ** ** more *********** ***** **** *** ******* are ***** ** ** *** **** revenue **'** ***** ** ***.
*’** ***** ********** ** *** ****** digit ******* *** ******* ** ***** gear, **** **** ****** ** *** services *** ************ **** (**’* **** several ***** ******).
** **’* ****** **% *** **, not **** ******** ** ******** (*******, incentives), * ****** ** **** *** sharing *** ********* *********?
*** ****** **** ***** ********* ******** yet? *’* ******* **** ***** ******* liability *** *********** ******* **** ****.
**** ****** ***** ***** **** ** make **** **** **** *** ***** than ***’*:
**** ** ****…