Publications
Publications
- October 2022
- HBS Case Collection
Ethena: A Go-to-Market Dilemma
By: Rembrand Koning and Stacy Straaberg
Abstract
In November 2021, Roxanne Petraeus and Anne Solmssen, founders of Brooklyn-based software-as-a-service (SaaS) startup Ethena, were looking to expand their compliance training business. The founders hired Arnie Gullov-Singh, an outside revenue consultant, to advise on whether to pursue mid-market sales or enterprise sales as the company scaled. Gullov-Singh performed a diagnostic of Ethena’s sales funnel and found mid-market to be a reliable, growth-oriented trajectory for the company. The data for enterprise, however, was more limited, making it harder to recommend pursuing with confidence. Petraeus felt enterprise was attainable, nonetheless, especially given Ethena’s client base already included some high-profile enterprise firms. Together with Vice President of Customer Success Akhila Iruku, the group discussed whether pursuing both mid-market and enterprise was feasible, and in light of the limited data on enterprise, whether it was wise. Ethena: A Go-to-Market Dilemma (HBS No. 723-363) also includes supplements: Ethena: Pre-Seed Pitch Deck Supplement 1 (HBS No. 723-385); Ethena: Seed Pitch Deck Supplement 2 (HBS No. 723-386); and Ethena: Series A Pitch Deck Supplement 3 (HBS No. 723-387).
Keywords
Decision Choices and Conditions; Judgments; Growth and Development Strategy; Business or Company Management; Business Strategy; Expansion; Segmentation; Technology Industry; United States; New York (state, US)
Citation
Koning, Rembrand, and Stacy Straaberg. "Ethena: A Go-to-Market Dilemma." Harvard Business School Case 723-363, October 2022.