Raising capital isn’t always the win it seems. In this episode, Chris Sugden, Managing Partner at Edison Partners, challenges the belief that funding fuels innovation. He explores how too much capital can create inefficiencies, dilute focus, and lead to valuation-driven decision-making that hurts more than it helps.

Chris shares insights from decades of investing in bootstrapped and capital-efficient companies, highlighting the benefits of constraint, clear ROI, and founder discipline. If you’ve ever wondered whether more money really means more progress, this episode will make you think twice.

In this episode, you’ll learn:

• Why more capital doesn’t always lead to better outcomes

• How bootstrapped businesses outperform through focus and discipline

• The hidden costs of headcount growth and managerial bloat

• When spending becomes waste - and how to measure real ROI

Jump into the conversation:

(00:00) Introduction

(01:02) Bootstrapped growth and Edison’s investment approach

(03:03) Rethinking the Silicon Valley startup playbook

(05:32) How excess capital leads to operational inefficiency

(08:07) When headcount growth hides real performance issues

(10:19) The dangers of ego and valuation-driven identity

(12:49) Why founders need mentorship and honest feedback

This re-release of Electrifying Growth brings back an essential conversation with host (at) Chris Sugden from Edison Partners and (at) Amy Kadomatsu, Former CEO and Board Member of Comply, a leader in regulatory technology (RegTech) helping firms navigate compliance with confidence.

Amy’s career journey is a masterclass in resilience, leadership, and transformation. From investment banking to entrepreneurship, she has built and scaled businesses at the intersection of finance and technology. Now at the helm of Comply, she shares candid insights on leadership in private equity-backed companies, fostering mentorship, and the grit it takes to succeed in high-growth environments.

In this episode, you’ll learn:

• The pivotal moments that shaped Amy’s career, from Harvard to the startup world

• How to identify and cultivate valuable mentorship relationships

• The unique challenges and expectations of leading a private equity-backed company

• What it really means to have "grit" and why it’s a key ingredient for success

Jump into the conversation: (00:00) Meet Amy Kadomatsu and her journey to Comply (02:42) The early career lessons that shaped her leadership style (10:00) Understanding mentorship beyond the transactional approach (20:08) The dynamics of private equity-backed leadership (30:00) Advice for future CEOs and entrepreneurs

Resources:

Connect with Amy on LinkedIn: Amy

A well-structured board can be a game-changer for CEOs, but too often, it’s an underutilized resource. In this episode, Chris Sugden, Managing Partner at Edison Partners, challenges the conventional thinking around boards and shares how CEOs can turn them into a strategic advantage.

Chris breaks down why independent directors often provide more value than investor-heavy boards, how to avoid the common pitfall of “board amnesia,” and why ongoing engagement beyond quarterly meetings is critical. He also discusses the role of lead directors and chairpersons, highlighting how they can drive accountability and alignment. Plus, he explores the fine line between mentorship and coaching—helping CEOs find the right kind of support to navigate growth and leadership challenges.

In this episode, you’ll learn:

• Why independent directors bring more strategic value than investors

• The importance of continuous board engagement beyond meetings

• How a lead director or chairperson can strengthen governance

• When executive sessions should be used—and when they shouldn’t

Jump into the conversation:

(00:00) Introduction

(02:00) The role of boards in startup and growth-stage companies

(05:00) Why independent directors matter more than investors

(08:00) The strategic value of a well-structured board

(11:00) Avoiding board amnesia and fostering ongoing engagement

(14:00) The lead director’s role in driving alignment and accountability

(17:00) How to use executive sessions effectively

(20:00) Coaching vs. mentorship: what CEOs need from their board

(23:00) Handling board conflicts and misaligned investors

(25:00) Building a high-impact board

Steven Raucher, CEO and Founder of RapidDeploy, knows what it takes to build, scale, and successfully exit a company. But his journey wasn’t just about financial success, it was about impact, resilience, and staying true to the mission.

8 years ago, Steven set out to transform public safety technology, determined to make emergency response faster and more effective. He faced the brutal realities of scaling a startup, learned hard lessons about funding, and navigated the pressures of leading a high-growth company. Now, with RapidDeploy acquired by a strategic buyer, he reflects on the journey: what worked, what didn’t, and what founders need to know about building something that lasts.

In this episode, you’ll learn:

• The long game: how Steven identified his ideal acquirer years in advance

• Why mission and market fit are just as important as technology

• The mistakes most founders make when scaling and fundraising

• How to transition from founder-led sales to a repeatable growth engine

• The role of a strong board in making the right strategic moves

Jump into the conversation:

(00:00) Introduction

(01:30) The acquisition and keeping the entire team intact

(05:00) How Steven predicted this buyer years in advance

(09:00) Balancing mission, impact, and commercial success together

(14:30) Early mistakes, fundraising lessons, and startup realities

(21:00) Scaling beyond founder-led sales and operational bottlenecks

(28:30) How a strong board shaped strategy and execution

(34:00) Leadership, resilience, and what’s coming next for Steven

Lorne Brown, Edison Director Network Member and Founder of Lenora Health, has built and sold companies, created markets, and now he’s tackling one of the biggest problems in the U.S.—corporate healthcare.

A longtime entrepreneur, Lorne founded Operative, a leading digital advertising platform, before selling it to private equity and launching Front Stage Ventures, a venture studio designed to scale new businesses through a unique “strategic insertion” model. Now, he’s applying that playbook to Lenora Health, his latest startup focused on helping companies regain control of their healthcare spending.

In this episode, you’ll learn:

• The right way to define and win a market

• How to fix a broken system (whether in advertising or healthcare)

• The power of thinking like an investor and operator at the same time

• Lessons learned from selling a company, stepping down as CEO, and stepping back in

• Why paying it forward is Lorne’s personal mission

• This conversation is a masterclass in market-making, leadership, and the mindset it takes to turn inefficiency into opportunity

Jump into the conversation:

(00:00) Intro

(02:00) The 20-year relationship between Lorne and Edison Partners

(06:30) How a failed job hunt led to entrepreneurship

(12:00) The early days of digital advertising and building Operative

(18:00) Selling the company, stepping back in, and doing it again

(25:00) Why nobody really owns healthcare inside a company

(30:00) Lenora Health’s model for driving accountability in corporate healthcare

(40:00) What every entrepreneur should know about focus and leadership

This re-release of Electrifying Growth brings back an essential conversation with host Chris Sugden from Edison Partners and Megan Glover, co-founder and CEO of 120Water, a trailblazing platform tackling water quality and compliance issues across the U.S.

Originally launched in 2016, 120Water started with a simple idea: direct-to-consumer water testing kits to empower households. Under Megan's leadership, the company evolved into a category-leading platform that supports municipalities and organizations with cutting-edge tools to manage drinking water safety and regulatory compliance.

In this episode, you’ll learn:

• The "aha" moment that inspired Megan to leave her corporate career and launch 120Water

• The complexities of modern water quality challenges, including lead, PFAS, and aging infrastructure

• How she balances building a socially impactful business with achieving profitability

• Lessons learned from navigating a male-dominated industry and scaling a mission-driven company

Jump into the conversation:

• (00:00) Meet Megan Glover and 120Water

• (02:42) The origin story: Why Megan left her job to pursue her vision

• (05:00) Water quality issues you need to know about today

• (10:00) The intersection of mission and business in 120Water’s journey

• (20:08) Megan’s perspective on leadership and overcoming challenges

Resources:

Connect with Megan on LinkedIn: Megan   

2025 is here, and with it comes a mix of cautious optimism and strategic challenges for entrepreneurs and business leaders. In this solo episode, Chris Sugden, Managing Partner at Edison Partners, dives into his perspectives on the evolving business landscape, offering actionable advice for the year ahead.

Chris explores the renewed optimism in sectors like FinTech, spurred by regulatory shifts and AI advancements, while highlighting areas requiring careful navigation, such as healthcare IT. He also shares his views on the Rule of 40 as a benchmark for sustainable growth and offers advice on balancing growth with profitability.

Whether you’re an entrepreneur planning to fundraise, a business leader aiming to scale sustainably, or just curious about market trends, this episode delivers practical takeaways for thriving in 2025.

In this episode, you’ll learn:

• How to leverage cautious optimism to make smarter business decisions

• Why the Rule of 40 matters and how it applies to private companies

• The importance of balancing growth and profitability in a shifting market

• Practical tips for managing expectations and planning a successful fundraising year

Jump into the conversation:

• (00:00) Introduction

• (02:00) The outlook for 2025: cautious optimism and headwinds

• (05:30) Sector insights: FinTech resurgence and healthcare IT caution

• (08:45) The Rule of 40 and sustainable growth strategies

• (12:30) Fundraising tips for entrepreneurs in the current market

• (16:00) Balancing optimism with strategic execution

In this episode, Chris Sugden, Managing Partner at Edison Partners, is joined by Jim Dicso, Founder and Managing Partner at Shoreline SAAS Advisory, and Patrick O’Keefe, Founder at Moher Advisory, to share their wisdom on transforming sales into a structured and scalable process. Together, they share their wisdom on how founders and early sales teams can build scalable go-to-market strategies without losing sight of relationships and creativity.

Jim and Patrick have a similar thread in their journeys: they have turned their businesses from a founder-driven model to an engineered machine. They agree there are three foundational boxes a leader should check when trying to scale their organization:

• Strong sales culture

• Effective process development

• Tools like playbooks and frameworks such as MEDIC (to create predictability and efficiency in go-to-market strategies)

In this episode, you’ll learn:

• Why early-stage sales teams often mirror the founder’s personality, and how to evolve this dynamic for scale

• How to balance the art of relationship-building with the science of process-driven sales

• How mapping the customer journey impacts growth and retention

• Practical ways to align pipeline hygiene with company goals and avoid misallocating resources

• Why a focus on relationship-building and active listening is more vital than ever in the era of technology-first communication

Jump into the conversation:

(00:00) Intro (02:00) Unexpected career paths into sales leadership (06:00) Evolving from a founder-led sales model (13:00) The role of CRM and stage-gating in pipeline management (24:00) Building scalable playbooks for consistent wins (36:00) The importance of prioritizing customer success

Booms, busts, and the “messy middle” - Chris has seen it all.

In this solo episode, host Chris Sugden, Managing Partner at Edison Partners, shares his journey of over 25 years from auditor to operator to investor. His operator-first approach and hands-on perspective have helped countless businesses scale effectively, bridging the gap between financial acumen and the human dynamics of entrepreneurship.

This episode is an exploration of the realities of scaling a business. Chris opens up about the nuances of building sustainable growth models, the importance of cautious optimism, and the value of pattern recognition in investments. 

He also shares practical advice for entrepreneurs, such as understanding key performance indicators and knowing when to bring in a growth equity partner. With a final thought that poses the question (and reflection of), “what do you want your exit press release to say about your company?” In this episode, you’ll learn:

• The importance of cautious optimism and healthy paranoia in scaling businesses effectively.

• Why understanding key performance indicators early can transform your company’s growth trajectory.

• How growth equity partnerships can provide more than capital (and what to look for when finding the right one) 

Jump into the conversation:

(00:00) Intro (01:30) Lessons from moving from auditor to operator to investor (04:00) Why operational experience matters for investors (06:30) Surviving the dot-com boom and bust (08:00) What makes the “messy middle” so challenging (12:30) Spotting patterns for sustainable growth (15:00) Where growth equity fits in the funding lifecycle (18:00) Write your exit pressure (21:29) Investing in undeserved markets

How can limited partners play a more strategic role beyond capital?

Michelle McKinnon, a senior portfolio manager in alternative investments at Loews Corporation, sits down with Chris Sugden to share how to think about the role investors can play in helping companies grow. 

Together, Chris and Michelle dive into the nuances of being an effective limited partner. From their conversation, you’ll understand how to think about selecting fund managers, how CEOs are evaluated, and what it means to navigate long-term investments. If you’re curious to foster better relationships between capital providers and operators, then this is one you’ll want to save. In this episode, you’ll learn:

• How limited partners (LPs) like Michelle McKinnon evaluate investment opportunities

• Why the relationship between LPs and general partners (GPs) is key to successful growth investments,

• How diverse industry experience—across tech, media, and corporate pensions—gives LPs a unique perspective for helping companies scale 

Jump into the conversation:

(00:00) Meet Michelle McKinnon, senior portfolio manager at Loews  

(01:00) Understanding the role of limited partners (LPs)  

(02:00) Key types of LPs: pensions, endowments, and insurance firms  

(04:30) How different LPs approach investments  

(06:30) Michelle’s career path: banking, SiriusXM, Loews  

(09:00) Lessons from SiriusXM on company culture  

(12:00) Why strong management is essential to investment success  

(15:00) Building a “gut” for evaluating people and deals  

(17:30) What “value creation” truly means for LPs  

(20:00) How LPs choose the right fund managers