Thought Leaders in Cloud Computing: Momchil Michailov, CEO of Sanbolic – Part 7
Sramana Mitra: How big is the company now, revenue wise?
Momchil Michailov: We’re at $8 million right now. We’ve been selling the product commercially for just over three years at this point. This quarter we’re moving the product into additional markets. We’re very excited about some product releases that are coming up at the end of the quarter. We have about 15 people here in Boston and about 35 in Sofia, Bulgaria strictly in R&D.
Sramana Mitra: You self-financed the company?
Momchil Michailov: We were angel-funded. We’ve never taken institutional funding.
Sramana Mitra: At what time frame in this journey did you take angel money?
Momchil Michailov: We took the initial angel funding about two years into it. We’ve taken small chunks every year for the past nine years. We came to break-even at the end of last year. With the new release at the end of this quarter, we’ll either look at a strategic round or look at some other ways to help accelerate the growth of the company. It’s such a complex software task to do both storage and data management layers. It never really dawned on us how complex the marketing task is going to be. It is very challenging. It’s a difficult sale in the data center.