Own Company: A European Expansion Case Study

Introduction to Own Company: Founded in 2015, Own Company made a remarkable transition from a provider of Salesforce backup and recovery solutions to a comprehensive SaaS data platform. After several successful funding rounds, the company expanded its operations and opened an office in London in 2019, marking the beginning of its European market push. Key expansion regions included the DACH region, Italy, France, Scandinavia, and the United Kingdom.

Financing Milestones:

• Total Funding: Approximately $507 million across seven rounds.

• Series D: Raised $167.5 million in January 2021, bringing the total to over $267.5 million.

• Series E: Secured $240 million in August 2021, increasing the company valuation to $3.35 billion.

• Key Investors: Salesforce Ventures, Sapphire Ventures, and others.

Throughout my career, particularly during my time at Own Company, I deepened my expertise in building strategic partnerships and alliances. In the highly competitive Salesforce ecosystem, where many strong players played a key role, I quickly realized that cultural alignment was not just a nice-to-have but a critical factor for fostering successful, long-term collaborations. My experiences have confirmed that true business growth stems from relationships built on mutual respect and shared values, making cultural fit a cornerstone of any successful business strategy.

Challenges Faced in the DACH Region:

Upon expansion into the DACH region, Own Company faced several significant challenges:

• Language and Cultural Barriers: Overcoming communication hurdles due to language differences, which impacted customer engagement and relationship building.

• Misaligned Target Segment: The advanced cloud-based solution was not well suited for the DACH Enterprise segment, which was still reliant on traditional data centers and SAP systems.

• Customer Readiness Gap: Many potential clients were still in the early stages of their digital transformation, making them less likely to adopt solutions designed for more advanced phases of cloud integration.

• Regulatory and Compliance Concerns: Strict data privacy regulations, especially in the financial sector, raised concerns about storage, backup, and system security.

• Partnership Collaboration Issues: Challenges in customer acquisition due to limited collaboration with cloud computing service providers, which hindered the effectiveness of customer growth strategies.

• Resource Constraints: Due to limited resources, I was the only native speaker in the DACH team, which slowed down customer engagement and relationship-building processes.

Strategic Approach:

To address these challenges in the DACH region, the company adopted a smart approach focused on building strategic alliances with leading consulting firms. This strategic step greatly increased the company’s competitiveness and helped build trust with clients.

A key part of the strategy was investing in trust-building and brand awareness through carefully planned joint events. These included pre-event meetings and networking opportunities at conferences and exhibitions, which not only generated leads but also strengthened relationships with potential partners and customers.

During my time in sales, I played a key role in promoting these initiatives. I worked closely with partners to strengthen collaborations and ensure smooth execution of the strategy. Additionally, the cross-functional collaboration between our Account Executives and those of our partners promoted a more integrated sales approach. By aligning with customer goals and jointly pursuing opportunities, we were able to create a reliable and professional experience for our target clients, resulting in higher conversion rates and better financial outcomes for both companies.

Key Highlights of the Strategic Approach:

• Comprehensive Strategy: Market positioning and strategic alliances with consulting firms to enhance competitiveness and market penetration.

• Trust and Brand Awareness: Organizing joint events, including pre-event meetings and networking at major conferences, to generate leads and strengthen relationships.

• Sales Collaboration: Active partnership with consulting firms to ensure trusted execution.

• Cross-functional Alignment: Promoting collaboration between Account Executives from different organizations, aligning customer goals and jointly pursuing sales opportunities.

Results:

OwnBackup achieved significant results in the European market, including improved market positioning and strengthened partnerships, delivering tangible outcomes. While specific numbers for the DACH region are not publicly available, the overall growth indicates strong acceptance of Own Company’s services in these areas.

Key results during my time from 2021 to January 2023 include:

• Revenue Growth: The company's revenue grew from $91.4 million in 2021 to $112 million in 2022, and further to $132.1 million in 2023. This revenue growth highlights the success of the company's strategic market placements and partnerships. (Source: Channel Futures)

• Customer Base Expansion: The number of customers grew from 5,000 in 2021 to 6,000 in 2023, indicating stronger market penetration and increased trust in the company’s solution. (Source: Channel Futures)

• Leadership Strengthening: Own Company also expanded its leadership team in France by hiring experienced Salesforce veterans, underscoring its commitment to growth in the European market.

Despite challenges from layoffs in November 2022 and restructuring following the acquisition by Salesforce in September 2024, the company continued its upward trajectory, culminating in an acquisition price of $1.9 billion.

In November 2024, Salesforce announced its final agreement to acquire Own Company for approximately $1.9 billion in cash, underscoring the strategic value of Own’s data platform in enhancing Salesforce’s data management and security functions. (Source: Salesforce Ben)

Conclusion:

In conclusion, Own Company made significant strides in its European expansion, particularly by focusing on strategic partnerships, cultural alignment, and understanding local market dynamics. However, a more targeted and efficient approach – such as collaborating with a specialized agency like MEBÚ – could have helped address challenges, avoid layoffs, and accelerate growth at a lower cost.

At MEBÚ, we understand the complexities of scaling businesses into new markets and are equipped to provide the expertise and strategic support needed to navigate these challenges. If you are ready to optimise your growth and avoid costly missteps, we invite you to connect with us. Together, we can lay the foundation for your success in any market. I wish Own Backup continued success and growth.