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{"id":28856,"date":"2023-04-11T21:41:33","date_gmt":"2023-04-11T21:41:33","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/04\/11\/upfronts-kobie-fuller-has-designed-an-investment-framework-for-modern-enterprise-software\/"},"modified":"2023-04-11T21:41:34","modified_gmt":"2023-04-11T21:41:34","slug":"upfronts-kobie-fuller-has-designed-an-investment-framework-for-modern-enterprise-software","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/04\/11\/upfronts-kobie-fuller-has-designed-an-investment-framework-for-modern-enterprise-software\/","title":{"rendered":"Upfront\u2019s Kobie Fuller has designed an investment framework for modern enterprise software"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/11\/upfronts-kobie-fuller-has-designed-an-investment-framework-for-modern-enterprise-software\/<\/a><\/br>
\nUpfront\u2019s Kobie Fuller has designed an investment framework for modern enterprise software<\/br>
\n2023-04-11 21:41:33<\/br><\/p>\n

\n

Kobie Fuller<\/a>, a partner at Upfront Ventures<\/a>, had a notion that there are certain characteristics that every successful enterprise software company shares. You might think that\u2019s not something that\u2019s easily quantifiable or identifiable, maybe just something that any investor knows or senses when they see it. But Fuller decided to sit down and figure out what those elements were, and he has created a framework that he released today.<\/p>\n

What Fuller came up with, he has called FABRIC<\/a>, a way to measure and understand what enterprise software companies are most likely to be successful. \u201cFabric represents my overall thesis for how I think about software, and where I\u2019ll be investing for the next decade plus,\u201d Fuller told TechCrunch.<\/p>\n

There are six components he thinks that are important for companies to prioritize and stand out including being fast, addictive bold, rewarding, integrated and built on community<\/p>\n

He says, while it\u2019s not necessary that every company has every one of these attributes out of the gate, it gives him a basis for thinking about enterprise software companies he\u2019s investing in. \u201cIt is about boiling things down in just common language and I\u2019m putting it out there what anyone who\u2019s building the next generation of enterprise software companies should be thinking about \u2013 and using it as a guide about how they\u2019re just forming their business in their companies.\u201d<\/p>\n

Fuller says with tens of thousands of SaaS companies out there now, and the number growing all the time, companies need to be thinking about how to stand out, and what makes buyers and users turn to one solution over another, and he believes that it has to be fast and fun to use, something users rely on and come back to.<\/p>\n

He uses the term addictive, but what he means is that the software has to be designed in such a way, that it\u2019s so useful and so easy to use that you just keep coming back, that you\u2019ve designed the software in such a way that it turns the industry on its head. That incorporates those first three elements of being fast, addictive and bold.<\/p>\n

Beyond all of that, it has to give you pay back, a reward, helping you complete a task faster means you\u2019re getting your work done faster. It also has to integrate into your existing technology systems and your teams and workflows. Finally, there has to be this whole community around it that helps you and you feel a part of because you use that software.<\/p>\n

All of this may sound like common sense, but building software that does all that is no easy task. Once you do, and you begin selling it inside the enterprise, you make it incredibly difficult to stop using it or to switch to another vendor selling a similar service because your users are completely bought into the idea of this product, this company.<\/p>\n

He says that one startup that really embodies this idea is Figma<\/a>, the company that Adobe is trying to buy for $20 billion dollars<\/a>. \u201cFigma embodies all these components of FABRIC \u2013 they\u2019re fast, they\u2019re addicting, they\u2019re bold, they\u2019re rewarding in terms of value. They\u2019re deeply integrated, and they\u2019ve done an incredible job and building community from day one,\u201d he said.<\/p>\n

It comes down to documenting something Fuller has learned over the years as he\u2019s built a company and been an investor. Prior to joining Upfront Ventures, Fuller was chief marketing officer at Revolve, an LA fashion eCommerce company.<\/p>\n

\u201cWe\u2019re trying to apply some of these principles that we\u2019ve learned across all facets of our overall background. experience, especially in the area of [working with] consumers and trying to distill it into something very simple, very, very potent, that anyone can get and then allow there to be a common language for creation of software,\u201d Fuller said.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/04\/11\/upfronts-kobie-fuller-has-designed-an-investment-framework-for-modern-enterprise-software\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/11\/upfronts-kobie-fuller-has-designed-an-investment-framework-for-modern-enterprise-software\/ Upfront\u2019s Kobie Fuller has designed an investment framework for modern enterprise software 2023-04-11 21:41:33 Kobie Fuller, a partner at Upfront Ventures, had a notion that there are certain characteristics that every successful enterprise software company shares. You might think that\u2019s not something that\u2019s easily quantifiable or identifiable, maybe just something that any investor knows […]<\/p>\n","protected":false},"author":1,"featured_media":28857,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-28856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nUpfront\u2019s Kobie Fuller has designed an investment framework for modern enterprise software - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/04\/11\/upfronts-kobie-fuller-has-designed-an-investment-framework-for-modern-enterprise-software\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Upfront\u2019s Kobie Fuller has designed an investment framework for modern enterprise software - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/04\/11\/upfronts-kobie-fuller-has-designed-an-investment-framework-for-modern-enterprise-software\/ Upfront\u2019s Kobie Fuller has designed an investment framework for modern enterprise software 2023-04-11 21:41:33 Kobie Fuller, a partner at Upfront Ventures, had a notion that there are certain characteristics that every successful enterprise software company shares. 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