Part III: The Success Series: How to Stay and Scale in Southern California?
We went back to speak with Paul Meyer of Veracity to learn more about Veracity plans to stay and scale in Southern California. We were excited to hear about why Paul feels it’s important to stay connected to OCTANe and LaunchPad SBDC as well.
OCTANe: Paul, thanks for sitting down with us again today. We are excited to hear more about your experience with OCTANe LaunchPad SBDC and to see where you are today.
Paul Myer (PM): Always a pleasure!
OCTANe: Tell us more about the current stage you are at now.
PM: We released our initial software platform in October of 2017, and we will release a “production” version of the software in June of 2018. We have 4 Proof of Concept (POC) customers in process now and hope to close them all for pilot projects by June-July.
OCTANe: That’s so exciting- congratulations. Are you planning to grow Veracity?
PM: Absolutely Once we raise our Series A, we will grow from 10 employees to 25+, including development, sales and marketing. We are looking forward to growing and scaling in Southern California/ Orange County
OCTANe: How exciting. Why are you still planning to grow and stay in the area (Southern California/ Orange County)?
PM: We have a strong network here in Orange County. We are in the Microsemi building where we have access to a fantastic team and are able to collaborate on many different levels. One our investors, Hollencrest is close by, and our costs are much lower here than in the Bay Area. We think that Southern California is THE place to grow and scale and looking forward to doing so here.
OCTANe: We are glad to hear that’s the case! Looking back on Veracity’s life, how has OCTANe and LaunchPad have helped the company grow?
PM: Our presentation and overall business plan is much more focused now, and that’s specifically due to the LaunchPad process. In addition, the introductions made throughout our OCTANe interaction are starting to pay dividends. Also, we stay connected to OCTANe in several ways. In fact, because of our involvement with LauchPad, we were invited to participate in “Coffee at the Cove” at UCI and present about Veracity. In addition, we presented at UCI’s Microgrid Summit this week on UCI’s campus. We are now moving forward with a strategic relationship with UCI that could be valuable for us.
OCTANe: Wow, you are very involved in the Orange County Community. Tells us a bit more as to why you and Veracity are still involved with OCTANe and LaunchPad?
PM: It all comes down to relationships. Microsemi continues to be an active participant, and we continue to generate important local relationships and coverage due to our association with OCTANe. We are always on the lookout for new funding opportunities, and we are hoping to see additional investor interest here in Orange County as the ecosystem grows.
OCTANe: Thank you Paul for sitting down with us during our four-part series. We’re excited to continue Growing the SoCal of Tomorrow and we will have more blogs to read soon!