Back in February, I was fortunate enough to meet with Stephany Lapierre (CEO and Founder of Tealbook) for a coffee catch up. Due to their growing customer base, Steph was exploring the possibility of bringing a deep procurement specialist on board as the new VP of Customer Success, to stand up Customer Success at Tealbook. The overarching vision for the role was simple: to ensure positive and meaningful customer experiences for all existing and future Tealbook customers. Steph talked me through their recent funding successes (an impressive $6.53 million CAD secured in a seed plus funding round last year) and the positioning of Tealbook as the trusted source for supplier data.
Naturally, this piqued my interest and was the start of a four-week process to assess our fit for each other. It ultimately led me to give up a career working for large, multi-billion dollar companies, to work for a rapidly growing tech company. There are several reasons why:
1. A strong and unique value proposition, with an indisputable objective in the market:
Having led procurement teams across multiple industries, I see the value in this product for our clients in navigating their supplier data challenges. My views aside, the successful funding rounds (from Tier 1 investors such as Workday Ventures) and growing customer base (among some of the largest brands) also demonstrate significant market confidence.
2. The magnificent pool of talent that works at Tealbook, including a phenomenal leadership team who I am honored to be joining – highlights include:
- Being led by a top 100 influential women in supply chain
- A CTO who, due to his extensive experience with high technology providers (such as Google, Ariba and IBM), attracts and retains elite machine learning and development talent (from the top AI schools in Canada).
- A CFO who’s big four and investment fund experience (such as EY, BMO, and OMERS) has contributed significantly to support Tealbook’s growth ambitions.
- Our head of Commercial Strategy who brings both startup and procurement software experience (from Aquiire and Coupa) to optimize our product growth and sales.
3. My belief in Tealbook and the numerous benefits it offers to Procurement and Supply Chain teams. Poor data is one of the biggest obstacles to overcome within an organization. Procurement & Supply Chain professionals have long underestimated the importance of clean data, and many transformation efforts have gone considerably over budget and over timeframe as a result. I have even encountered some that have not begun at all because accurate data wasn’t readily available. Procurement professionals spend a substantial amount of time manually searching for supplier data that, once discovered, could change overnight (especially in these times with COVID-19). This process exposes companies to risks that should be avoided with up-to-date data. This is where Tealbook comes in. Tealbook’s machine learning autonomously enriches supplier data from over 400 million sources. The team is working daily on deepening those data buckets to make it even more relevant for our customers. As a result, Tealbook customers save time, gain confidence, avoid harmful exposure to risk, and companies receive one source of truth for supplier data. Good data is a crucial foundation; how we collect it, how we use it, and how we safeguard it is as important as what we use it for.
During my Procurement days, my key role was being a trusted advisor to my internal stakeholders. My objective was to ensure those stakeholders were getting the value they required to help them meet their goals. My new role at Tealbook is a natural extension of that and I am looking forward to working with Tealbook’s growing customer base to optimize the customer experience, ensure we are delivering on our promise to our customers and help them be successful each and every day.
To Tealbook’s customers (both existing and future): I am so looking forward to meeting you and working collaboratively as we establish what success means to you.