Norwest Venture Partners

What a fun night with Counterpart Ventures, Wells Fargo, and a stellar group of founders and investors across the tech ecosystem!

Cash flow emergencies demand all hands on deck. Bringing together key stakeholders allows you to “measure twice, cut once” and avoid the damage that implementing cash-conservation measures multiple times can cause. Norwest growth equity investor Cassie McHenry knows this all too well from her time in a previous role, where she helped create and implement an action plan to remediate an established company’s cash flow emergency. In her blog, she shares 5 critical steps that can help companies conquer a cash flow crunch: https://lnkd.in/g9yCubN3

Navigating a challenging market as a startup founder can be daunting, especially if you’re looking for ways to bolster your company’s cash reserves. Venture debt often emerges as a viable option, but for most founders, it’s uncharted territory. Add in the upheaval from the banking crisis a year ago, most leaders are still adjusting to a competitive venture debt market. As Head of M&A and Capital Markets on Norwest’s Portfolio Services team, Laura Boyd has guided many founders through venture debt deals, helping to demystify this financial tool along the way. In her blog, Laura leveraged her experiences to develop a list of do’s and don’ts across the four pivotal stages of venture debt financing. Read more: https://lnkd.in/gDYpu2Sg

Building strong relationships with customers and prospects is 🔑 to successful sales. Norwest Partner Sean Jacobsohn compiled his top insights on how to build, nurture, and leverage your network. 1️⃣ Build: Lead with value, find common ground, and leverage events.  2️⃣ Nurture: Get to know people holistically and stay in touch.   3️⃣ Leverage: Highlight your customers and ask for intros.  4️⃣ Tap Into Others’ Networks: Express gratitude and leverage your board of directors. Read his full blog for more tips on leveraging your network: https://lnkd.in/gqmeV6EG

Congratulations are in order for our portfolio company Vertos Medical on its acquisition by global medical technologies leader Stryker! We know unique first-to-market medtech companies create value for patients, providers, and payors. Their novel procedure for lumbar spinal stenosis — which causes debilitating back pain for millions — is minimally invasive with high lasting relief rates, fewer complications, and a lower cost. What comes next: Vertos will be able to scale even faster and create new interventional pain offerings. And Stryker adds a one-of-a-kind therapy product with proven efficacy to its impressive portfolio. Win-win! Read more from Zack Scott and Suraj Shah on our partnership and why we’re keeping a close eye on the interventional pain space: https://lnkd.in/gUCaiYJF

Innovation is not the only important element for supplement brands. Norwest Partner Lisa Wu, who led our 2016 seed round investment in Ritual, talked to The Business of Fashion about the evolution of the supplement industry and why efficacy and scientific credibility reign supreme. “First the focus was on building credibility around clinically-backed ingredients, but that’s no longer sufficient because consumers are demanding. Now the focus is on clinical studies on final [formulation] products.” Read more from Emma Sandler: https://lnkd.in/gmdTGwyp

Stacey Freed recently wrote for the The New York Times about the rise of office spaces that double as community hubs, and guess what? Springline Menlo Park, where our headquarters is, made the list. Our office space, which offers ample opportunities to spend time collaborating and building trust, supporting our company culture. That kind of community building helps set us apart and is hard to recreate anywhere else. It also helps make the commute worth it — just ask our Head of Business Development, Mary Miller, who told the New York Times that it’s worth the 1-hour traffic battle. Learn more about what makes our space at Springline special: https://lnkd.in/dipbKGJ6

Since joining Norwest portfolio company Vuori last year, CMO KAREN RILEY-GRANT has worked to define Vuori’s core brand message and build the company’s first data and analytics team. She is also instilling a career-long passion for grass roots connections with a brand’s customers. For her, to obsess the customer, is to truly know and listen to what they have to say. Our portfolio leaders are some of the best minds in their industries, which is why we love this Forbes article sharing Karen’s top tip for marketers to continually tap into the minds of their customer. https://lnkd.in/gt-cCJvC

Taking your SaaS company upmarket? Here's what you need to know, according to Norwest Partner Sean Jacobsohn! 👇 Moving from SMBs to enterprises can mean greater profitability and stability. With 15 years in SaaS, Sean has seen the highs and lows of this transition. Here are 5 strategies for making the transition: 🌟 Prepare for a tough journey. 🌟 Value your first enterprise customers. 🌟 Don't rush into customization. 🌟 Nurture customer relationships. 🌟 Understand how enterprises operate. Read more in his blog: https://lnkd.in/gSSWz4Ee

There has *never* been a better time for science-backed health and wellness brands to enter the market. Swipe through for our full guidance 👉 Here’s why our team is bullish on the market ⬇️ Several consumer tailwinds are propelling the category forward, including: 🍎 Consumers are prioritizing spend on wellness 🐥 Consumers are proactive on prevention 🔬 Consumers demand robust scientific evidence 🥼 Consumers are shifting trust to “docfluencers” At the same time, the buyer universe is expanding, offering numerous M&A opportunities to startups in the space. While legacy strategics and private equity firms continue to have a strong appetite for acquiring science-backed, doctor-recommended brands. We believe brands will have the most success if they prioritize 10 key building blocks from an early stage — and we’re ready to help winning health & wellness brands seize their opportunity. Read more about our winning framework from Norwest Partner Lisa Wu and investor Gabrielle Rush: https://lnkd.in/g3PVfpEt