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Summary

Shan Kulkarni is the co-founder and CEO of Nullify, a product designed to augment AppSec teams with AI agents capable of carrying out multiple levels of product security work autonomously. Prior to Nullify, Shan worked in roles such as Cloud Operations Lead at UNSW Redback Racing, and Cloud Security Engineer at CMD Solutions Australia. 

In this conversation with Cole Cornford, Shan discusses the challenges of starting a business, and in particular the challenges of hiring, the state of AppSec in Australia, what the future might hold for the industry, and plenty more.

Timestamps

1:30 - Shan's career background

5:30 - Why AppSec is so often inefficient and expensive

9:00 - Bigh tech has a monopoly on AppSec talent

12:30 - Shan's journey from consultant to founding a company

15:40 - Biggest mistakes when starting a business

19:20 - Selling products/services to devs is extremely difficult

25:00 - Where Shan sees AppSec going

28:00 - Consolidation of security products

32:00 - What security leaders are struggling with: visibility

34:00 - Rapid fire questions

Mentioned in this episode:

Call for Feedback

In this week's episode of The Startup Retro, Gemma and Will explore the latest happenings in the Australian startup ecosystem. They discuss OneVentures' ambitious plans with their 7th fund, aiming to raise $200 million, and review the firm's impressive history. The hosts also highlight the new accelerator cohorts from Startmate and Remarkable, before diving into the significant US court ruling that declares Google an illegal monopoly. To round off the episode, they feature their top startup raises of the week, including Eyeonic's innovative glaucoma screening technology and Rich Data Co's AI-powered credit assessment platform.

00:00 Acknowledgment of Country

00:30 Intro Music

01:00 Welcome and Overview

02:00 OneVentures’ 7th Fund Announcement

05:30 Startmate and Remarkable Accelerator Cohorts

09:00 US Court Ruling on Google as an Illegal Monopoly

12:00 Pulse Check Recap

15:00 Startup Raises

15:30 Gemma’s Pick: Eyeonic

21:00 Will’s Pick: Rich Data Co

25:30 Special Mention: Noveco Surfaces’ Recycled Glass Tiles

28:00 KaaS Recommendations

Headlines

• OneVentures raising 7th VC fund, aiming for $200m (AFR)
• Startmate Accelerator Winter 24 cohort announcement (Startmate)
• Remarkable Accelerator cohort announcement (Smart Company)
• US Court decides Google is an illegal monopoly (The Conversation)
• Pulse Check Newsletter - August Edition

Startup Raises

• Eyeonic
• Company story video
• Rich Data Co
• Noveco Surfaces

Our favourite startup-relevant read, listen or watch of the week

• Australia’s Sportstech Sector: Australian athletes aren’t the only ones winning on the global stage, by Will Richards

Gem’s Pick 💁🏻‍♀️

• How I Built Dis, The Imperfects Podcast (from The Resilience Project)

Will’s Pick 💁🏻‍♂️

• Two by Two - Capital Chronicles Newsletter by Joshua Boccamazzo

• Gemma on LinkedIn
• Will on LinkedIn

Thanks to our sponsors for helping to make this episode of The Startup Retro possible.

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Rachel Carrell is the founder & CEO of KoruKids, Europe’s largest childcare platform— training, matching, and providing ongoing support to over 10,000 nannies across London.

Rachel is one of the special ones. Driven to found the company by what she describes as a righteous anger over how childcare has been disrespected as infrastructure in society… Today, Koru Kids takes care of taxes, payroll, pension, holiday, nanny communications, activity ideas and a dozen other things that can come up when you’re dealing with nannies… bringing down the cost for families, and helping kids have more engaging, enriching experiences.

Joined by co-host Phoebe Harrop, we had a lot of fun with this episode: tracing Rachel’s story from hustling chocolates and home-grown lottery schemes on the streets of Invercargill … to strategising her way into a Rhodes scholarship that helped her land a place— and finally “find her people” at the University of Oxford in the UK; and on to London, where she’s been ever since… 22 years and counting, consulting with McKinsey, raising a family, building, investing in, and advising startups

We explore how, counterintuitively, Rachel feels driven to consistently choose the path of most resistance … seeking the right kind of crazy … this shows up in stories from the founding of Koru Kids, to the time she had a baby in the middle of her Series A fundraise and was back out pitching the next day .. to how she thinks about talent development, scaling demand and supply in marketplaces, and more.

Make sure you subscribe for more stories from the diaspora every Friday! 🌎

In today's episode, we discuss:

* Rachel's journey from New Zealand to the UK, spanning exactly half her life in each country..

* The transition from consulting to entrepreneurship and the challenges of the healthcare and childcare sectors, what learnings from consulting transfer over to startups, vs. areas she had to develop/offset.

* The founding and growth of Koru Kids, addressing the critical need for quality childcare solutions - specifically how the lack of accessible and affordable childcare has profound consequences for individuals and society.

* Scaling marketplaces: solving the “cold start problem” … building the supply side of a marketplace when the service provided is unique and requires specific qualifications, how to think about (and avoid) “de-platforming” risk.

* Insights into fundraising in Europe, particularly for companies in traditionally difficult sectors. Approaching fundraising with a mindset of learning and strategy development.

* Raising venture capital while pregnant, advice for other female (and- pregnant) founders!

* Being a non-technical founder building a technical business has its challenges, but both approaches (tech-first or ops-first) can work with trade-offs.

* Rachel’s upcoming book! micro interventions with children to shape how they grow.

If there’s one thing you can do to help us — it would be send this episode to a friend .. an expat in your family, a founder or aspiring founder who could benefit from the lessons here .. appreciate your support !

Listen & Subscribe on:

* Apple Podcasts

* Spotify

Learn more about Diaspora.nz:

* Around 20% of New Zealanders live outside of New Zealand. This is our “Diaspora” — and it’s one of the world’s largest, per capita.

* And not only is it large, it’s insanely talented: Early in their lives and careers, many of New Zealand’s most ambitious individuals realise— if they want to make a dent in the universe, they need to get out there… to study abroad, gain experience, build relationships.

* Unfortunately— as they go, many drop off the “domestic NZ” radar…

* We’re here to surface and share their stories, create opportunities to meet and support each other along the way, on and offline.

* Read the full announcement post here - and hit subscribe for more episodes every Friday!

Make sure you subscribe before you go :-)

In this episode, we chat with James Mansell, Engineering Manager for Downer's Rail and Transit Systems team in Cardiff, NSW. James shares his career journey from intern to manager at Downer, and provides insights into the rich history and current operations of Downer's Cardiff facility. He discusses recent innovations like their new Electronic Test and Repair Centre, as well as ongoing projects like the bogey overhaul program. James offers his perspective on the advantages of working in rail manufacturing in Newcastle, market changes in the industry, and advice for those looking to enter the field. He also shares his thoughts on the future of rail, including trends towards local manufacturing, decarbonization, and improved use of data. This episode provides a fascinating look into the rail industry in Australia and the opportunities it presents for engineers and manufacturers.

In this episode of Fintechfun, host Chris Titley speaks with Vakul Talwar, General Manager of Australia and Head of Product for Trading at Crypto.com. This insightful discussion covers Vakul's professional journey, his experiences at notable fintech companies such as General Electric, PayPal, and Afterpay, and his current initiatives at Crypto.com. Vakul elaborates on the importance of the Australian market for Crypto.com and highlights the ways the company is fostering crypto adoption locally.

The conversation delves into the burgeoning adoption of cryptocurrencies, with Vakul sharing fascinating insights on trends, market growth, and emerging products like staking and ETFs. He touches upon Crypto.com's innovative solutions, such as their integration with local merchants and stadiums to enable cryptocurrency payments. Towards the end, Vakul shares a bit about his personal life, underlining the balance between his professional responsibilities and personal interests, particularly his fondness for footy and quality time with his family.

• Future Goals: Continued innovation and solving consumer problems remain paramount for Crypto.com as they aim to introduce new products and expand their user base in Australia.
• Professional Journey: Vakul Talwar's extensive background across global fintech companies has equipped him with unique insights and leadership skills, currently utilized at Crypto.com.
• Crypto Adoption in Australia: Australia is one of Crypto.com's key markets owing to the high interest and investment in cryptocurrencies among Australians.
• Innovative Crypto Solutions: Crypto.com's initiatives like staking, crypto payments via a Visa card, and partnerships with merchants showcase their commitment to integrating cryptocurrency seamlessly into everyday life.
• Market Trends: The approval of Bitcoin ETFs by the SEC has been a significant catalyst for retail adoption, with growing interest expected to push the global user base towards a billion consumers.

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In this episode of the First Cheque podcast, Cheryl Mack and Maxine Minter delve into the intricacies of early-stage investing, focusing on the importance of secondaries, the value of strong founder-investor relationships, and how to navigate high valuations. This episode is a milestone as it's entirely driven by audience questions, providing targeted insights and practical advice for investors and founders alike.

Cheryl and Maxine kick off by discussing the significance of secondaries in the investment ecosystem. They explore how secondaries can provide liquidity options for founders, early employees, and initial investors, comparing the maturity of secondary markets in the US versus Australia. They touch on the role of secondary funds, the impact of early liquidity on the ecosystem, and how this federal flow of funds can encourage re-investment into new startups.

Next, the duo dives into their anti-portfolios, sharing insights from companies they passed on and reflecting on biases and lessons learned. They also address gender diversity in the investment landscape, critiquing the current state of gender equity in the Australian startup ecosystem. Furthermore, Cheryl and Maxine share their strategies for balancing valuations, particularly in the context of owning small equity stakes as angel investors.

• Secondary Transactions: Understanding the role and impact of secondary transactions can provide essential liquidity to founders and early investors, fostering a healthier investment ecosystem.
• Anti-Portfolio Learnings: Reflecting on missed investment opportunities reveals biases and allows investors to refine their criteria and improve decision-making.
• Gender Diversity: There is a significant need to address the gender gap at all levels of the investment ecosystem, from founders to fund managers and LPs.
• Valuation Strategy: Evaluating whether a company can significantly grow its valuation by the next funding round is crucial in assessing high valuations.
• Founder-Investor Relationships: Strong relationships between founders and investors are imperative for successful fundraising and long-term collaboration.

• Scale Investors: led by Samar, focusing on women-led companies.
• EQUITY DIRECTORY: A data-focused initiative to improve reporting on gender metrics in the investment community.
• AirTree Pioneers Program: Supporting diverse early-stage founders.
• First Cheque Podcast Voicemail: Submit a question

Thanks to our sponsors for helping to make this episode of First Cheque possible.

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Download the Turo app and book cars from $38/day. https://dayone.fm/turo

Mentioned in this episode:

Deel x PX_Script 1

In this week's episode of The Startup Retro, hosts, Will & Gemma delve into Canva's acquisition of Leonardo AI and feature an interview with Elli Hanson from Side Stage, one of Leonardo's investors. The hosts also discuss the South Australian Venture Capital Fund and the state government's independent report on its effectiveness and uncover the secret termination of the federal government's Boosting Female Founders (BFF) grant program. And to wrap up Gemma & Will highlight the latest startup raises, including Monty Compost, an industrial composting tool, and Slice, a bootstrapped fintech in the travel industry.

00:00 Introduction and Welcome

00:28 Canva Acquires Leonardo AI

05:02 South Australian Venture Capital Fund Report

09:00 Boosting Female Founders Program Termination

15:37 Weekly Startup Raises

28:31 KaaS Recommendations

To get all the links to the stories we mentioned in this episode, you can read this week’s Overnight Success newsletter. https://newsletter.overnightsuccess.vc/p/aussie-startup-vc-summary-3rd-august-2024

• Canva Acquires Leonardo AI
• SAVCF Government Report
• Boosting Female Founders Program Termination

Monty Compost

Founder: Ashley Baxter

Monty Compost, an organic waste recycling/composting IoT device with analytics software, has secured $1M from Skalata and Antler (QIC).

Slice

Founders: Yannick Darmalingam and Farouk Ismail

Slice, a Sydney-based fintech, has raised $7.5M in Seed funding from Peak XV Partners (formerly Sequoia Capital India & SEA) and a $10M debt facility from Roadnight Capital.

Gemma’s Pick 💁🏻‍♀️

Podcast: The Journal - "Alexa is in millions of homes and Amazon is losing billions"

Will’s Pick 💁🏻‍♂️

Blog: The Big Guide to Fusion by Ben James

• Gemma on LinkedIn
• Will on LinkedIn

Thanks to our sponsors for helping to make this episode of The Startup Retro possible.

Are you a founder overwhelmed by HR, payroll, onboarding, and IT tasks? Simplify with Rippling: an all-in-one platform for your global workforce.

Get 3 Months Free 

Build a top-notch team fast with Teamified. Teamified offers fractional CTOs, contractors, and remote team members from the Philippines, India, or Sri Lanka. Cut hiring times by 50%.

Get started 

For broader updates on the Day One network, including news about other shows and network-wide updates, sign up for the Day One Newsletter. We are dedicated to creating content that helps Australian founders succeed. https://dayone.fm/newsletter

Want to become a sponsor? Send us an email.

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We're excited to be launching Engineering Success, NTP's latest podcast series. Hosted by Melinda Sietsma, this podcast is a collaboration between NewyTechPeople and Hunter Manufacturing Awards. In this series, Mel will talk to key individuals across the Hunter region, sharing their career stories and the exciting projects and achievements of our local manufacturing businesses. 

Campbell Brown is Founder & CEO at PredictHQ, based in San Francisco.

PredictHQ help customers understand the catalysts behind any form of consumer demand, with a particular emphasis on real-world events. Today, they provide this “Demand Intelligence” to a who’s who of global brands, airlines, and marketplaces like Uber and Airbnb, helping them optimise supply and pricing whether they’re facing an anomalous weather event or Taylor Swift concert.

Before founding PredictHQ, Campbell was part of the early team at GrabOne, where he saw first hand how sudden volatility in demand could affect business operations (for better or worse). He went on to join Online Republic as CMO, where he encountered the challenges of predicting traveller demand based on global events and weather conditions.

This is the first repeat guest we’ve had on the pod… having recorded an episode for the very first season of diaspora.nz back in 2017. Since then, Cam raised another $33.5M USD, has substantially grown the team and product suite — it’s been awesome to see this growth over the years. 

In today's episode, we discuss:

* The journey from GrabOne to PredictHQ, and how past experiences shaped Campbell's understanding of data-driven business decisions.

* PredictHQ's evolution from focusing on the travel industry to diversifying across various sectors including parking, transportation, and accommodation.

* Building models on top of event data to provide unique intelligence and enable businesses to become context-aware.

* The importance of selling value over features, and focusing on the impact a product can bring to a customer's business.

* Exploring different pricing models, including category-based and consumption-based approaches.

* Challenges and strategies for managing a multi-location team and fostering company culture across New Zealand and the US.

* The pros and cons of having a New Zealand-based versus US-based top company, and navigating international tax implications.

* Campbell's fundraising journey and advice for approaching investors, including the importance of warm introductions and treating fundraising like a sales process.

* Balancing work and family life in the US, and tips for building community when moving abroad.

Where to find Campbell:

* LinkedIn: https://www.linkedin.com/in/campbellbrown/

* Twitter/X: https://x.com/campbellb

Listen & Subscribe on:

* Apple Podcasts

* Spotify

Learn more about Diaspora.nz:

* Around 20% of New Zealanders live outside of New Zealand. This is our “Diaspora” — and it’s one of the world’s largest, per capita.

* And not only is it large, it’s insanely talented: Early in their lives and careers, many of New Zealand’s most ambitious individuals realise— if they want to make a dent in the universe, they need to get out there… to study abroad, gain experience, build relationships.

* Unfortunately— as they go, many drop off the “domestic NZ” radar…

* We’re here to surface and share their stories, create opportunities to meet and support each other along the way, on and offline.

* Read the full announcement post here - and hit subscribe for more episodes every Friday!

In this week's episode of The Startup Retro the discussion begins with Coinbase recruiting a former Treasury director and ASIC economist, and continues with an analysis of Microsoft entering the design market with a Canva competitor. They also explore the latest annual report on crowdfunding, revealing the state of the market and key figures.

Will and Gemma highlight the most interesting startup raises of the week, including Cuttable's creative automation platform and Preve's AI-driven physiotherapy solution. They wrap up with Knowledge as a Service (KaaS) recommendations, featuring a docuseries on aged care and a lighthearted book series.

00:00 Introduction and Welcome

00:28 Coinbase Recruits Former Treasury Director

05:02 Microsoft's Canva Competitor

09:00 Crowdfunding Annual Report

15:37 Weekly Startup Raises

28:31 KaaS Recommendations

To get all the links to the stories we mentioned in this episode, you can read this week’s Overnight Success newsletter. https://newsletter.overnightsuccess.vc/p/27-july-2024

• Coinbase Recruits Former Treasury Director
• Microsoft's Canva Competitor
• Crowdfunding Annual Report

• Cuttable
• Raised $5.5 million led by Square Peg, with Paul Bassat joining the board.
• Focuses on creative automation for digital ads to enhance ROI without compromising quality.
• Preve
• Raised $550K in pre-seed funding to revolutionise physiotherapy with AI.
• Aims to reduce the high dropout and reinjury rates in patient treatment plans.
• Fundabl
• Closed $3.2 million equity raise and launched a venture debt fund.
• Targets growth-stage businesses with loans between $500,000 and $5 million, providing alternatives to equity investments.

Our favourite startup-relevant read, listen, or watch of the week.

• Gemma’s Pick 💁🏻‍♀️
• Docuseries: Maggie Beer's Big Mission, a three-part series on revolutionising aged care with better nutrition and innovative tech solutions.
• Will’s Pick 💁🏻‍♂️
• Book: The Thursday Murder Club, a lighthearted mystery series about retirees solving crimes.
• Podcast: The Contrarians with Adam Schwab and Adir Shiffman, featuring Blake Hutchison of Flippa discussing digital asset marketplaces and valuation insights.

• Gemma on LinkedIn
• Will on LinkedIn

Thanks to our sponsors for helping to make this episode of The Startup Retro possible.

Are you a founder overwhelmed by HR, payroll, onboarding, and IT tasks? Simplify with Rippling: an all-in-one platform for your global workforce.

Get 3 Months Free 

Google for Startups Cloud Program Get up to US$350,000 of Google Cloud and Firebase credits for two years for your startup plus technical, business and financial support through the Google for Startups Cloud Program. 

Apply now

Google for Startups AI First Accelerator The Google for Startups AI First Accelerator is a 10-week equity-free accelerator program for Seed and Series A stage Australian startups building AI&ML-driven platforms and products.

Apply now 

Build a top-notch team fast with Teamified. Teamified offers fractional CTOs, contractors, and remote team members from the Philippines, India, or Sri Lanka. Cut hiring times by 50%.

Get started 

For broader updates on the Day One network, including news about other shows and network-wide updates, sign up for the Day One Newsletter. We are dedicated to creating content that helps Australian founders succeed. https://dayone.fm/newsletter

Want to become a sponsor? Send us an email.

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