YourSix Raises $10.5 Million Series A (CEO Interview)
The VSaaS marketing is gaining as cloud goes mainstream; now, US provider YourSix, most well known for its Axis partnership, has raised $10.5 million in Series A funding.
IPVM spoke with YourSix CEO Eric Styles to understand their approach and how it contrasts with companies such as Eagle Eye and Verkada, who have raised much more.
For background and previous coverage, see YourSix CEO Speaks on Axis and VSaaS plus VSaaS Rankings - Arcules, Avigilon, Eagle Eye, Genetec, Meraki, OpenEye, Qumulex, Rhombus, Turing, Verkada, Vivotek, YourSix.
Executive *******
*******'* ****** * $** ******* ******* will ************* ** **** ** ****** the *******'* ***** *** *********, **** the *** *********** **** **** **** do ** *********** *** *********, **** the ********* **** **** ***** ***** be ***** **** ***** ******. **********, the *** ************ **** **** ****** down **** *******, ********** * ********** restrained ******** ** ****** *** ****-******.
**** ********* *******'* ****** ******* ** the $* ** $** ******* *****, with **** ***** ********* **** *** foundation ** **** **** * ******* doing **** ** ******** ** ******* in ******* ***** ** **** ****** but *** ******* **** **** ***** newer ********, **** ****** **** ***********.
******* ******* ******** ******* ******* **** "pure" ***** / ****** ********, * unified ***** / ****** ********, ******* on **** *********** **** **** **** cameras **********.
Funding ********* **** ** ***** *** *********
*** $** ******* ****** ******* **** be ********* **** ** ***** *** marketing ** ******* ****** **** *** "product-market ***" ** ** ***** *** that ** ***** ** "**********" *** product ****:
** **** **** *** ********** ** where ** ***** ** **. *********, we're ***** ** ******** ** ******** and ********** ** **** **** ** things, *** ** ***** ** *******-****** fit, **'* ********** *****, ***we **** ** ********** **** ******* **** *** **** because the partners that we have are extremely solid, but we know that there are a lot more partners for us to gain. [Emphasis added]
****** **** ******* *******, ****** **** YourSix *** ******* ** ******** *** technology *** *** **** ******** ** sales *** ********* **** ******* ****-*******:
**'** **** **** ******* ** ******** the **** *** *** ** ****** to ***** *** ****, ******* *** kind ** ******* *********.
**** *** ****, ** **** ****, is * **** ******** ******** ** the ******.
**'** ****, *******, ******** ******* * fire **** *** *** **** **** years, *** ******* **** *********, ***** has **** **** ** **** ****-******* with * **** ******* ******* ********. There *** ********** ********** ** **** approach.
No *** ****, ******* ****** * ** ** *** **** *****
** ******* ********** **** ****, *** company ********** **** ** *** "** interest ** ** ***." ****, ****** said ** ******* ****** * ** be *** **** ******* ******* ***** YourSix ***** **, ***** ****** ** "more **** ******" *** *** ******* to ***** *** ****:
**'** *** ***** ** ** ******* in **** ********-***** ****. **'** ******* been ******** *** * *** *** this ***** ** ** *** ********* last *****.
* ***'* **** * ******* ****. I ***'* ***** *** ******* **** no ********** *********** ** ***** ** occur. *** ***** ***, ** **'** looking ** **, ** *** *** thinking ** ******* *****. **** ***** will ** **** **** ****** *** us ** ******* ** *** ***** that ** ****, *** **** ***** the ***** ** ************* **** **, and **** ** *** *** **** to ***** **** *****.
IPVM ********* ******* ******* ** ** $* ******* - $** *******
***** *** ******* ******** ** ******** its ********* ******* ** *** ******, IPVM ********* **** *******'* ****** ******* falls ****** *** $* ******* ** $15 ******* *****, ** *** ******* told ** ** *** "*** ** 1,000s ** *******" *** ** ******* estimate $** *** ****** *** *****.
**** ****** *** ******* *** *** provide *** ********** ****** **********, *** 5000 ****** **** ******* *** * ~109% *-**** **** ******* **** - 2022, ****** ********* **** * **** small ****:
Turned **** ***** ********: *** **** *****
******* ****** **** **** ******* ******* and ****** **** **** ** ***** have, ******* ********** *** *******'* ************ business ***** ******** ** **** ** its ******* ************.
******* ******** **** ************ ******** ** indicating *** ********* ******* *******, ** there ** ***** *** **** ** the ***** *********** ****** (***), *** how ** **** *** **** ** chase ****** **** *********** **** *******:
*** *** ** **** ***** ** this ********. *****'* * *** **** everyone *** ** *****, ***how ******** ******* ******* ** *********. [Emphasis added]
* *** ** ***** ****** ******* that *** ******,what's ****** ****** ***** ******* ** *** **** **** **** **** ** ********** ***, and we don't have to compensate for the burn. We're in a different position. All of this capital is going straight to growth. [Emphasis added]
****** ******* ********** ** *** ******* "steered ****" **** ******* *************, ********** how *** ******* *** ********* ******* to **** ***"***** *******"
** ******* **** **** *** $** million, $** *******, $** ******* **** other ***** **** ****** ******** ** us. *** ** **** ******* ***** away ******* ** **** ****'* *** the ***** ** ******* *****. **** to *****, ***** *** ** ** some **** ** ************** ****** **.
******* *** ****** ** *** ************ and *** ****** ** *** **********, we've ****** ***** ** * *** of ******** ** ** **** *** investor *********, ***we've **** ******* * *** ** **** ***. We realized that we were going to raise eventually, but we **** **** ******* *** *** ***** *******, and we needed that partner to not just [be] about capital for us but to bring something more to the table. And we've **** **** ********** ** *** ******** ** ******* *** ***** ******** we wanted to join forces with. [Emphasis added]
Investors: ***** *** ******** ********
***** "***** ********" ******* ********** **** funding **** *** *** *******-********** ********, *** *** *** *****, ****** *******-***** ******** ********. ****** ***** **** *** ********* who **** *** ***** ** ******* was***** *********** ***** ******** *** **** ***** the ****, **** **** ** *****, has * "******* *** ** ********* a ********* **********" *** **** ******* "fit **** **** ****** ****," ***** Partners **** ******* *** ** ** investment.
***** ********' **************** * ******* ***** ** *******-***** investments. ** ******** "********** ********** *********" and **** **** ******* "*******, ********* experience, *** ******** ************ ** *** "'classic' ****** * *****."
Breakeven ****: *** ***** ******
******* ** *** "** *** **** of *****-****," ***** ****** ******** ********* the ***** **** *** *** ******* to ******* ******* ******* *** ****:
*** *** ****, ** **** **** the ****** ** *****, **** ** were ***** ** *** **** ** the *****-**** *** ** ****** **** profitability.
****** ******* ********* *** ** *** right **** *** ******* ** ***** to ** **** ********* ** ********* its ******** ** *** ******:
** **** *** ****** *** ***** to *** *** **** ** *** gas * ****** *** *** ******* our ***** *** ********* *******.
[*** *******] ****** ** ** ****** a ****** *** **** *********, ********** from *** ********* ******* ** *** we **** *** ******* ************.
**'** ** **** ***** ***** **'** far ****** ***** ** **** *******.
Focused ** ******** ********** ****** *** *****
****** ******** "** *** **** ** break-even" *** ****** ** *** ****-*****, YourSix *** ******* ** ******** *************:
**'** **** **** ********** ** *** approach ** ******* *******, ** ***** from *** ********** ** ** **** stage; **'** **** ****** ************ *** almost ****-******. **'** ****** **** ******* leading ** ** **** ******, *** just **** ** *****, *******, ******, type ** ******. **'** **** **** focused ** ******** * **** ** profitability **** ***** **** ****** ** years, ********** **** *** ******* ** the ******.
**** "************" ******** *** **** ********* in *********, ** *** ******* *** not **** **** ** ************ ** the **** *** *****. *******, ****** now ******** **** ******* ** ****** again:
**'** ****hovering ***** ****** ** [*********] *** *** **** *** *****, and that's been very intentional. We haven't really invested in the team through those years, paying close attention to the macros and being so committed to the path to profitability while we've continued on a decent growth trajectory. Throughout that time, we have not invested in the team, and now ** *** **** ** *** **** ** ********* ** *** ****. [Emphasis added]
Active *** *********** *****/**********
****** **** ******* ********* *** **** than *** ********* ** *****, ***** is **** **** ~**% ** *** total *********. ** ******* ** *** "actively ** *** ******* ** ******," it ***** ** **** *** ******* headcount ** **%-**%, ********* ********* *** sales **** ** **%-**% ** ***** its ***** *** ********* ****** ** the **** ** ******, ****** **** IPVM. *******'* ******* *** ***** *** Channel ******* ******* *******:
*** ******* **** **** **** **** openings ***** **** ** *** *** boards *** ***** ********** *********. ** far, ******* *** *** ** **** job ******** ** ************************.
******* *** ********* **** ******* ** the ****** * *******, ****** ********** that ******* ** "*** ***** ** hire **********" *** **** ** **** "maintain * **** ******** ** ******," through ***** ** **** ** "**** intentional" ** ****** **** *** ********* it ***** ***** "******* ****** ******* regions **** [*******] **** ******* ******* than ******, ** ******* ******** **** require **** ********** *******." ****** **** not "**** ** **** *** ******* the ***** ** ****," ****** *****.
Intentional ***** *** ********* **********
******* **** *********, ****** ********** ** YourSix's "*************" ***** ** ****** ** marketing ******* ******* *** ************ ********:
**'** **** ******* **** *** ***** and ********** *** ** ***** ***** years ***.
**'** ***** ** ** **** *********** about ****. **'** ***** ** ******** our ********* *******where ** *** *** *********** **********. We're not going to just increase our marketing efforts and expect partnership to increase because of that. That's a very pay to play type of mindset. [Emphasis added]
We're **** ******* ** *** ****** ***** ** ******* **** *******, and that's where the majority of our marketing efforts are going to be focused. [Emphasis added]
2025: *** ********** ****** ****
**** ****** ***** ** **** *********, sales, *** *********, ** **** ** R&D ** *****, ****** ******* **** to ** ** "*********** ****** ****" for *******:
**'** **** ** * ****** *****, but * ***** *** **'** ***** to *** ******** ********* *** ** even **** *********** ****** *****, ********* heading **** **** ****. *****'* ****** a ******* ****** *** *** ***** that *** **** **** *** ******* that *** *****. ** ***** **** time ** ****** **** *** ****** of **** *****. ** ********** **** 2025 **** ** ** *********** ****** year *** **.
No ******** *** ****** ******
******* ******* **** *** "*********** ****** year," ****** *** *** **** *** specific *** ** ******* ********, ****** that ******* **** *** **** ******** numbers ** *****, *** ** **** many ********** ***** *** ***:
**'** **** * ******** *****; ** don't **** *********** ******** **** **'** selling, *** ** ** ** *** books. **** * ***-**** ******* **********, we ***'* **** ****** **** **** factor [****** ******* ******] **** *************. As * ******** *******, **'** **** focused ** *** ******.
**'** ****** ** ***** ********* ********** along *** ***. **'** **** ***** to **** ******* ***** ********** *** see ***** **** *** **.We ***'* **** *** ******** ****** ** **** *** ****** **'** *** *****. [Emphasis added]
Product ******** ********
****** *** ***** ******** ** ***** and ********* *******, ****** **** *******'* product *********** **** ***** **** *** historical *********:
** ****** ********* ********* *** ******* about *** ******** ** * ******-**-*****, unified ********. [*** *******] **** ********* to ****** ** ** ******* **** vision.
****** ********** *** ******* *** ** currently ****** *** ***** ** ******* further:
**'** ******** ****** ******* ** *** West. **'** ***** ** ******** ** improve *** ****** ******* ********, **** like ** **** ******** ** *** VMS ******** **** *** *****, *** also ** ******* *** ***** *** the ** *** *******, *** **** additional ******** *** ******** ************, ** all ** **** ***** ** ** play.
R&D ********** ****** ***** ***** *** ******
** *******'* ********** ******** **** *** new *******, *&* ***** ***** ***** sales *** *********, ****** ****, *** this ******** *** *&* ***** ** ensure "**********":
*** ****** *** ******** ** **** round [** **** *****] ** ** beef ** *** ***** *** ********* efforts; *********, *&* ** * ***** second.
******* ******* *****, *** ** **** be **** ** *** ** *** team * ****** *** *** ********* move * ******.
**'** ***** ** ******** ** ****** as ********** ** ** *** ** that ******, ** ***** *** *** unified ******** ***** ** **** *** market ** ********* *** *** ******** are *** ****** ***.
Partnership **** ****: ******** ************* **** ***** ******* (***)
** * ****-**** **** ******* *** integrating **** **** ****, ****** ********** YourSix's *********** **** *** ****** ************:
**** ******* ** ******** ******* ** YourSix, *** ******* ******* ** ******** partner ** ****. **'** **** ******** and **** **** *** * ****** of ***** ***.
** * ***** ******** ********* **** devices, ****** ******* ********** ** *** YourSix ** *** *** ********* **** Cloud ******* (***), *** ************'* *** cloud ********, *** ** ************* ****** integration *************:
[*********] **** ***** ******* (***), *** general ******* **** *** **** **, if *****'* ** ****** ** *** that ******** ***** ** ******* **** we **** ***********, *** ** **** likely **** *** ** ** ** some ***. *** **** *** *** to ** **********. *** * *** say ** **** ***** ** **** we *** ******** ************* *** ******* as **** ******** ** ***** ** out.
*** **** ** ******* *** ****, see******* *** ****** ** **** *** VSaaS. *** **** ** ****'* *** offering, ******* ******** **** ******** ***** *******.