Scaling Stateside

In this episode of Scaling Stateside, David Rose and Matt Oxley sit down with Riya Grover, the serial entrepreneur behind the food-tech startup Feeder (successfully exited) and the current Co-Founder and CEO of Sequence.

Riya breaks down the raw reality of building a US category leader from London, the intentional shift away from "dead" cold outbound sales motions, and the distinct mindset required to pitch—and win—tier-1 Silicon Valley venture capital like Andreessen Horowitz (a16z).

If you’ve ever wondered how to crack the hyper-competitive US market, or whether to make that crucial jump across the pond to build a local cultural hub, this conversation is for you.

📍 KEY TOPICS & TIMESTAMPS

00:00 Intro & Riya’s early "hustle years" 
04:29 From Oxford and Investment Banking to Tech 
07:31 The accidental genius: How internal software led to her first exit 
11:17 The founding of Sequence and solving the B2B billing nightmare 
17:44 Why you can’t win the US from Europe (and opening a NY HQ) 
25:09 "Cold outbound is dead": Modern B2B GTM strategies 
34:08 How a UK startup got A16Z on their cap table 
36:08 The biggest differences between pitching US vs. UK VCs 
39:30 Riya's top advice for founders raising US capital

ABOUT RIYA GROVER

Riya Grover is the Co-Founder and CEO of Sequence, a B2B finance automation platform that helps teams streamline their order-to-cash and accounts receivable processes using flexible, AI-native software. A serial entrepreneur, Riya previously founded and successfully exited Feeder, a B2B food marketplace, where an internal software tool ultimately drove the company's acquisition value.

Known for her highly intentional go-to-market strategies and strong leadership, Riya successfully transitioned from a traditional investment banking career (post-Oxford and Harvard Business School) into building venture-backed tech companies. Today, she leads Sequence across dual headquarters in London and New York, building a global category leader backed by top-tier investors like Andreessen Horowitz.

🔗 CONNECT WITH Riya Grover
LinkedIn ⮕ https://www.linkedin.com/in/riya-grover-a22a4822/

Sequence ⮕ https://www.sequencehq.com/

🔗 CONNECT WITH David Rose
LinkedIn ⮕ https://www.linkedin.com/in/davidbrose/

🔗 CONNECT WITH Matt Oxley
LinkedIn ⮕ https://www.linkedin.com/in/mdoxley/

🏢 POWERED BY WILSON SONSINI 
This episode is powered by Wilson Sonsini, the leading law firm for technology and growth companies. Wilson Sonsini helps European founders navigate US expansion — from entity formation and regulatory compliance to VC fundraising and M&A. Their deep cross-border expertise ensures you structure it right from day one.

US Expansion Partners ⮕ https://www.usxp.co/

🔔 Subscribe for more conversations on scaling to the US the right way.

In this episode of Scaling Stateside, David Rose and Matt Oxley sit down with Alex Packham, the mastermind behind ContentCal (acquired by Adobe) and the current CEO of JAAQ (Just Ask A Question).

Alex breaks down the raw reality of the "Agency-to-SaaS" pivot, the grueling "David vs. Goliath" battle of selling to a Silicon Valley giant during a global lockdown, and why he believes the US market possesses an "appetite to dominate" that every European founder needs to experience.

If you’ve ever felt like you’re living in a "multiverse", balancing the public face of growth with the private stress of cash flow, this conversation is for you.

📍 KEY TOPICS & TIMESTAMPS

02:58 Early Entrepreneurial Experiences

06:02 The Mindset of an Entrepreneur

08:47 Career Path and Agency Experience

12:09 Transitioning to ContentCal

14:47 Fundraising and Venture Capital Journey

17:59 Product-Led Growth and Market Expansion

29:59 Identifying the Ideal Customer Profile (ICP)

33:06 Navigating the U.S. Market During COVID-19

35:55 The Journey to Series A Funding

39:58 The Acquisition Process with Adobe

45:54 The Human Side of Entrepreneurship

50:51 Transitioning to Jack: A New Venture

57:44 Advice for Aspiring Entrepreneurs

ABOUT ALEX PACKHAM

Alex Packham is a serial entrepreneur, angel investor, and the former Founder & CEO of ContentCal, a social media planning tool he scaled to thousands of global customers before its high-profile acquisition by Adobe in 2021.

Known for his "wise beyond his years" strategic thinking, Alex successfully navigated the complex transition from a profitable digital agency to a venture-backed SaaS powerhouse. Following his tenure as a Product Director at Adobe, he took the helm as CEO of JAAQ (Just Ask A Question), a mental health tech platform featuring world-leading doctors and celebrities. Alex is a frequent investor in early-stage startups and is passionate about helping founders navigate the mental and operational "multiverse" of scaling a business.

🔗 CONNECT WITH Alex Packham 

LinkedIn ⮕ https://www.linkedin.com/in/alexpackham/

JAAQ ⮕ https://jaaq.app/home

🔗 CONNECT WITH David Rose

LinkedIn ⮕ https://www.linkedin.com/in/davidbrose/

🔗 CONNECT WITH Matt Oxley 

LinkedIn ⮕ https://www.linkedin.com/in/mdoxley/

🏢 POWERED BY WILSON SONSINI 

This episode is powered by Wilson Sonsini, the leading law firm for technology and growth companies. Wilson Sonsini helps European founders navigate US expansion — from entity formation and regulatory compliance to VC fundraising and M&A. Their deep cross-border expertise ensures you structure it right from day one.

US Expansion Partners ⮕ https://www.usxp.co/

🔔 Subscribe for more conversations on scaling to the US the right way.

In this episode of Scaling Stateside, David Rose and Matt Oxley sit down with Luke Pappas, Partner at NEA, to unpack how US venture capital really thinks and what European founders often get wrong when expanding to the US.

Luke shares his journey from California to London and breaks down the real frameworks US VCs use to evaluate founders, scale, and timing. From seed-stage investing to expansion strategy, this conversation offers a practical, insider view on what actually matters when building a global company from Europe.

If you are a venture-backed founder, CEO, or part of a leadership team considering US expansion, this episode will help you avoid costly mistakes and think like a US VC before making the move.

• (00:00) - Introduction to the Scaling Stateside Podcast

Before NEA, Luke founded a product used across Stanford University, studied computer science and management science, and worked in technology investment banking on landmark IPOs.

🔗 CONNECT WITH Luke Pappas
LinkedIn ⮕ https://www.linkedin.com/in/luke-pappas-78ba5699/
NEA ⮕ https://www.linkedin.com/company/new-enterprise-associates/
QueueStatus ⮕ http://queuestatus.com 

🔗 CONNECT WITH David Rose
LinkedIn ⮕ https://www.linkedin.com/in/davidbrose/

🔗 CONNECT WITH Matt Oxley
LinkedIn ⮕ https://www.linkedin.com/in/mdoxley/ 

🏢 POWERED BY WILSON SONSINI
This episode is powered by Wilson Sonsini, the leading law firm for technology and growth companies. Wilson Sonsini helps European founders navigate US expansion — from entity formation and regulatory compliance to VC fundraising and M&A. Their deep cross-border expertise ensures you structure it right from day one.

US Expansion Partners ⮕ https://www.usxp.co/ 

🔔 Subscribe for more conversations on scaling to the US the right way.

From £12K seed round in the UK to 520-person company and successful US exit. Husayn Kassai, founder of Onfido, shares his complete journey of building an identity verification company, expanding to the US, and now building Quench AI.

✨ Powered by Wilson Sonsini

📍 KEY TOPICS & TIMESTAMPS

2:03 - The Origin Story: Why identity verification matters (personal experience moving from Iran to UK) 
6:45 - The "Two Miracles" Problem: Raising early funding when investors didn't believe 
8:18 - Building product-market fit in Europe before US expansion 
10:15 - UK to US fundraising strategy (Series A → UK, Series C/D → US investors) 
15:30 - Timing your US market entry: Three critical factors 
20:45 - The Dual-HQ Model: Tech in Europe, Go-to-Market in US 
25:20 - US hiring mistakes & lessons (title inflation, hiring operators vs managers) 
28:40 - Navigating US regulatory complexity (state-by-state variation) 
32:15 - UK vs US investor dynamics 
35:20 - Managing culture across 520 people in multiple countries 
38:45 - The exit journey 
42:06 - Quench AI: Building privacy-first workplace search 
47:03 - Advice for European founders expanding to US

👤 ABOUT HUSAYN KASSAI

Founder of Onfido (2010-2024), scaled from £12K seed to successful exit. Built identity verification into industry standard with 520 employees across London and San Francisco. Raised from M12 (Microsoft), Salesforce Ventures, SoftBank, and others.

Now founder of Quench AI, a privacy-first workplace search platform helping mid-market companies find information across tools and deploy AI agents. First job: Selling music on eBay at age 12 (learned about margin protection when competitors undercut him!)

🎯 KEY TAKEAWAYS

✓ Wait for product-market fit in your home market before US expansion

 ✓ The dual-HQ model works: Tech in Europe, Go-to-Market in US East Coast 

✓ Structure legal, compliance, and operations BEFORE scaling 

✓ US title inflation is real—hire operators who execute, not just managers 

✓ Each US state has different regulations; get expert legal help early 

✓ UK investors for validation, US investors for scaling 

✓ Research thoroughly before committing to US expansion 

✓ Founder-problem fit matters more than market trends

 🔗 CONNECT & RESOURCES

Husayn Kassai: linkedin.com/in/husaynkassai
Quench AI: quench.ai 
Onfido: onfido.com

🏢 POWERED BY WILSON SONSINI

This episode is powered by Wilson Sonsini, the leading law firm for technology and growth companies. Wilson Sonsini helps European founders navigate US expansion—from entity formation and regulatory compliance to VC fundraising and M&A. Their deep cross-border expertise ensures you structure it right from day one.

📢 ABOUT SCALING STATESIDE

Helping European founders understand the US expansion journey. Hosted by David Rose and Matt Oxley of US Expansion Partners (USXP).

Subscribe: Apple Podcasts | Spotify | YouTube Follow: #ScalingStateside

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Episode length: 48 minutes Hosts: David Rose & Matt Oxley Guest: Husayn Kassai, Founder of Onfido & Quench AI

Episode Summary

In this episode, David and Matt sit down with Daniel Glazer, a New York lawyer who made the reverse transatlantic journey to help UK and European tech companies scale in the US. Dan heads up Wilson Sonsini's London office and leads their US expansion practice, bringing a unique perspective as an American expat building bridges between the European and American tech ecosystems.

From processing record numbers of cars at Burger King to advising companies through their US expansion journey, Dan shares candid insights about building trust across cultures, the importance of in-person relationships in London, and why Americans are wired to "want to believe" in the better mousetrap. The conversation explores the challenges of commuting between continents, the pre-pandemic meeting culture that defined London business, and practical advice for founders looking to crack the US market.

Key Themes & Topics:

The Reverse Journey: An American in London

• Dan's career path from 1990s dot-com era New York to opening Wilson Sonsini's London office in 2018
• The 2011 meeting with UK government at the Manhattan consulate that changed everything
• Years of transatlantic commuting before establishing the full-time London presence
• Building credibility and authenticity in both markets simultaneously

Why In-Person Matters (Especially in London)

• Pre-pandemic London's concentrated in-person meeting culture
• The unique geography of London tech: finance, government, and tech all "a tube ride away"
• How East London's tech ecosystem developed alongside the City's financial powerhouse
• Building the level of trust needed between company and counsel through face-to-face interaction

Cultural DNA: Why Americans Buy Differently

• Americans' willingness to be more aggressive in purchasing innovation
• The "I want to believe" mentality: a market actively seeking the better mousetrap
• Historical context: how America's immigrant roots created a culture of seeking incremental advantage
• Understanding buyer psychology when entering the US market

The Wilson Sonsini Model

• Founded in early 1960s as one of Silicon Valley's first law firms working with tech companies
• The "garage to IPO" approach: working with startups from inception through public markets
• Blended team model in London: American expat and English solicitors working together
• Supporting UK and European companies through their full US lifecycle

Practical Expansion Wisdom

• The importance of patience: "Rome wasn't built in a day"
• What you can't accomplish in the short term vs. what's possible over years
• Managing expectations from boards, investors, and family
• The value of steadily keeping at it without getting discouraged
• Learning to enjoy the journey and give yourself grace through the process

Notable Quotes

On London's business culture: "One of the things that we found is that the level of trust that needed to be built up between company and counsel really needed to be built in person... everything is so concentrated. It's the seat of finance, the seat of government, the seat of entertainment."

On American buyer mentality: "Americans on average are willing to be more aggressive in purchasing innovation or trying out innovation... they're willing to do more to gain some sort of incremental advantage than almost anywhere in the world."

On the American mindset: "You are pitching to a market that wants to believe. They want to find the better mousetrap that you've built and get that edge."

On patience and perseverance: "You'd be surprised at how little you can accomplish in a short period of time, but how much you can accomplish in a long period of time... If you're committed and you keep at it, you don't get discouraged, over time you really can accomplish a lot."

On advice for his younger self: "Just be patient... it's all going to be okay."

Fun Facts

• Dan's first paid job was at age 14 as a cashier at a brand new Burger King, where he took the very first order
• He set the record for most cars processed through the drive-through (though he's unsure if it still stands)
• Three years later, he was "poached" by McDonald's across the street for 25 cents more per hour
• Dan's backpacking trip through Europe in the mid-90s planted the seed for eventually living in London
• He entered the legal profession during the late 1990s dot-com era, when it seemed normal for companies to go from incorporation to IPO in six months

Guest Background

Daniel Glazer leads Wilson Sonsini's London office and US expansion team, working with UK and European tech companies through their US lifecycle - from launch to scale, fundraising, and exit. Originally from New York, Dan has been working with European startups on the transatlantic corridor for nearly 15 years. He moved to London full-time in 2018 to open Wilson Sonsini's office there, bringing together a blended team of American and English corporate tech lawyers.

About Wilson Sonsini Goodrich & Rosati

Wilson Sonsini is a Silicon Valley-headquartered law firm that began working with tech companies in the early 1960s when the first venture funds were formed. The firm pioneered the model of working with startups from garage stage through IPO and beyond as public companies. Their London office provides integrated support for UK and European companies expanding into the US market.

Takeaways for Founders

1. Build authentic relationships in both markets - Success requires credibility and presence on both sides of the Atlantic
2. Understand cultural differences in buying behavior - American buyers are wired to seek competitive advantage through innovation
3. Be patient with the process - Building something meaningful takes time; focus on steady progress over years, not weeks
4. Leverage the right support network - Whether it's legal counsel, business partners, or advisors, having people who understand both markets is invaluable
5. Give yourself grace - The pressures from boards, investors, and family are real, but expansion is a journey that unfolds over time

Connect with Daniel Glazer

• Company: Wilson Sonsini Goodrich & Rosati
• Location: London, UK

Scaling Stateside is hosted by David Rose and Matt Oxley of US Expansion Partners (USXP), helping UK and European venture-backed tech expand into the US market.

In this episode, hosts David Rose and Matt Oxley sit down with Maria Palma, General Partner at Freestyle Capital, to discuss the US venture capital landscape from a unique perspective. Maria brings invaluable insights from her decade in venture capital, having worked across three major ecosystems: five years in New York, three years in London, and nearly two years in San Francisco.

Maria shares her unconventional journey from corporate America at GE Healthcare to the venture capital world, offering candid advice for European founders considering US expansion and fundraising. The conversation demystifies the VC landscape, explores the key differences between US and European startup ecosystems, and provides practical guidance on when and how European companies should make the leap to the US market.

Guest Background

Maria Palma is a General Partner at Freestyle Capital based in San Francisco. Originally from Wisconsin, Maria started her career in corporate America at GE Healthcare before transitioning through various startup experiences in India, Brazil, and New York. She earned her MBA from Harvard Business School and has been in venture capital for a decade, uniquely positioned to understand the dynamics of the New York, London, and San Francisco startup ecosystems.

Before venture, Maria scaled a New York ad tech startup to $40 million in revenue and worked extensively with underrepresented founders. She also served on the board of a nonprofit supporting refugee founders in Africa.

Key Topics Discussed

The Journey from Corporate to Venture Maria discusses her transition from managing manufacturing operations at GE Healthcare to discovering her passion for "zero to one" problem-solving. She shares how a friend's observation that she loved helping founders led her to venture capital, despite initial misconceptions about what the job actually entailed.

Demystifying the US VC Landscape Maria emphasizes the importance of understanding "inside baseball" in the US startup ecosystem. She notes that European founders often consume US content without the context that local founders have, leading to unnecessary imposter syndrome. Her key message: if building a company feels hard, that's normal—it's always hard for everyone.

Information Asymmetry Between US and European Founders The conversation explores how US founders benefit from ecosystem density and informal networks that provide real-time intelligence about what's actually working versus what's just marketing. European founders often lack this context due to geographic dispersion across multiple cities and ecosystems.

When Should European Companies Expand to the US? Maria provides a nuanced framework for deciding on US expansion:

• If your customers are primarily in the US (especially for SaaS selling to US enterprises), you should expand to the US
• If your business is geography-specific (like Polish banking rails), US expansion may not be necessary
• The universal advice: if you believe the US is your primary market, don't wait too long—every company she's seen says they should have expanded two years earlier

US vs. European Fundraising Dynamics Maria discusses the evolution she's witnessed in European markets, particularly Paris, where US funds are now actively investing. She notes that having US investors on your cap table provides legitimacy that helps with US talent recruitment and customer acquisition, as sophisticated US hires will recognize and value US fund backing.

Getting to Know US Investors The best time to build relationships with US VCs is when you're not actively raising. Maria encourages European founders to reach out, understand what metrics US investors care about (especially for Series A), and build relationships early.

Maria's Investment Philosophy at Freestyle Capital Maria emphasizes that Freestyle is thesis-driven and focuses heavily on the people side of investing. She looks for founders who can articulate their leadership journey and personal transformation. Her contact process reflects this: she requires founders to share not just their deck, but also how they've changed as leaders.

Advice for European Founders Maria's core message: don't worry too much about what VCs think. If you build a great product that customers love and find a way to grow it, you'll find funding—whether through traditional venture or alternative routes. She encourages European founders to adopt more American optimism and just build what they believe in.

The Future of European Tech Maria is bullish on European tech ecosystems because the best talent is increasingly choosing startups over traditional career paths. She notes that startups offer unparalleled career growth opportunities compared to rigid corporate structures in many European countries, particularly Germany.

Key Takeaways

1. Inside Baseball Matters: US founders benefit from ecosystem density that provides context European founders often lack. Don't assume everything you read about US startups is the whole truth.
2. Timing is Critical: If the US is your primary market, don't delay expansion. Every successful company wishes they had moved two years earlier.
3. US Investor Signal Value: Having US VCs on your cap table provides legitimacy for hiring US talent and acquiring US customers.
4. Build Relationships Early: Connect with US investors before you need to raise, understand their metrics, and get to know them when there's no pressure.
5. Product Trumps Everything: If you build something customers love and find a way to grow it, funding will follow. Don't let VC concerns override your conviction.
6. Adopt American Optimism: European founders should embrace more of the American "can-do" attitude while building their companies.
7. Talent Flow is Changing: The best talent in Europe is increasingly choosing startups, which is fundamentally strengthening European tech ecosystems.
8. Be Thoughtful About Contact: When reaching out to investors, follow instructions and demonstrate you've done your homework. Maria values founders who can articulate their leadership journey.

Notable Quotes

On the VC landscape: "If it feels hard, it's not you. That is just what it always feels like."

On US expansion timing: "Every company that I've seen come from the US to Europe...that ultimately knew their market was in the US, every single one has told me we should have done that two years earlier."

On fundraising philosophy: "If you build a great product that your customers love and you find a way to grow it, you will find a way to get money. Traditional venture, not traditional venture or whatever."

On European tech's future: "I think the most important thing for European tech no one's even talking about, which is that all the best talent is falling into tech...there is no better career path for anyone in Europe than a startup."

On founder mindset: "Don't listen too much to what VCs say. And if you really believe in building this, like this is where I'll bring some optimism. Just build it. You'll be fine. You'll figure it out."

Connect with Maria Palma

Visit the Freestyle Capital website...

Episode Overview

Join hosts David Rose and Matt Oxley from USXP as they dive deep into the US expansion journey with Stephen Whitworth, CEO and co-founder of Incident.io. Stephen shares his entrepreneurial journey from paper boy to running a successful all-in-one incident response platform, and provides candid insights into the challenges and opportunities of scaling a UK-based startup into the US market.

Episode Length: ~50 minutes
Published: [Date]
Hosts: David Rose & Matt Oxley (USXP)
Guest: Stephen Whitworth, CEO & Co-founder, Incident.io

Guest Profile

Stephen Whitworth is the CEO and co-founder of Incident.io, an all-in-one incident response platform serving technology companies like Netflix and Airbnb. A software engineer turned serial entrepreneur, Stephen has navigated multiple UK-to-US expansion journeys throughout his career, including stints at Halo, Ravelin, and Monzo before founding Incident.io in 2021.

Connect with Stephen:

• Company: Incident.io
• LinkedIn: https://www.linkedin.com/in/stephenwhitworth/

Key Discussion Points & Timestamps

Early Career & Entrepreneurial Journey (02:00 - 10:00)

The Birth of Incident.io (10:00 - 17:00)

Making the US Move (17:00 - 26:00)

The Human Side of US Expansion (26:00 - 32:00)

Cultural & Professional Adaptation (32:00 - 37:00)

Maintaining Company Culture Across Borders (37:00 - 41:00)

Fundraising Journey (41:00 - 47:00)

Lessons Learned & Advice (47:00 - 50:00)

Key Takeaways

1. Market Pull vs Push: Being pulled into the US by organic demand is stronger than pushing your way in
2. Commitment Signals: Sending the CEO shows serious commitment to the US market
3. Timing Matters: Easier to establish dual headquarters with 20-30 people than 200-300
4. Cultural Investment: Flying new US hires to UK headquarters builds crucial cultural bridges
5. Location Choice: For B2B SaaS targeting tech companies, San Francisco often trumps New York
6. Fundraising Strategy: US investors provide validation and network effects for US expansion
7. Personal Sacrifice: The human cost of expansion is real but manageable with the right mindset

Resources Mentioned

• Code Academy: Platform that taught Stephen to code
• Companies Referenced: Netflix, Airbnb, Deliveroo, Uber, Halo, Ravelin, Monzo
• Investors: Index Ventures, Point9, Insight Partners, Passion Capital
• Locations: Silicon Roundabout (London tech scene), Harpenden (Stephen's hometown)

About USXP

USXP are the launch to revenue experts European tech scaleup companies count on for successful US expansion. Our Team of experienced operators will lead your company through the entire lifecycle of readiness, launch, and scale in the US market.

Hosts:

• David Rose - LinkedIn | X
• Matt Oxley - LinkedIn

Powered by

This episode is powered by Wilson Sonsini, providing legal counsel for technology companies and growth enterprises.

• Website: wsgr.com

Subscribe & Connect

Subscribe to Scaling Stateside on your favorite podcast platform:

• Apple Podcasts
• Spotify

Follow USXP:

• Website: usxp.co
• LinkedIn: linkedin.com/company/usxp
• X: @usXpartners
• YouTube: @USXPartners

Episode Overview

Join hosts David Rose and Matt Oxley as they dive deep with Ali Mitchell, founder-turned-VC and Managing Partner at Odyssey Ventures. Ali shares his remarkable journey from DJ to maritime engineering student to serial entrepreneur (including founding Huddle) to becoming a leading VC focused exclusively on helping European founders scale into the US market. This episode is packed with practical insights about the venture capital world, investment decision-making, and why European founders must "get on a plane" to win in America.

Episode Length: ~62 minutes
Published: Wednesday, October 15, 2025
Hosts: David Rose & Matt Oxley (USXP)
Guest: Alastair (Ali) Mitchell, Managing Partner, Odyssey Ventures

Guest Profile

Alastair (Ali) Mitchell is Managing Partner at Odyssey Ventures, a fund exclusively focused on taking ambitious British and European founders into the US and helping them scale globally. A serial entrepreneur turned investor, Ali previously founded Huddle (one of the OG London SaaS startups), spent 10 years in Silicon Valley, and later became a partner at EQT Ventures where he built their US operations and sat on over 120 investment committees. He's backed companies like Handshake and focuses on helping founders avoid the mistakes he made during his own US expansion journey.

Connect with Ali:

• Company: Odyssey Ventures
• LinkedIn: https://www.linkedin.com/in/alimitchell/

Key Discussion Points & Timestamps

Early Entrepreneurial Journey & DJ Days (01:10 - 03:10)

From Maritime Engineering to Serial Founder (03:10 - 07:20)

The Huddle Journey and US Expansion (05:25 - 07:20)

Transition from Founder to VC "Dark Side" (07:20 - 11:00)

The Reality of Being a VC (11:00 - 14:30)

Investment Thesis and Decision Framework (14:30 - 17:00)

The 6T Framework for Evaluation (26:15 - 32:30)

What Founders Get Wrong About VCs (29:00 - 32:30)

VC Decision-Making Process Deep Dive (37:00 - 45:00)

Why US Expansion is Critical (45:15 - 48:50)

Success and Failure Drivers for US Expansion (49:00 - 52:20)

Learning American and Cultural Adaptation (51:15 - 55:40)

Differences Between EU and US Fundraising (57:00 - 61:00)

Key Takeaways

1. Speed is Everything: The ultimate arbiter of success is speed - faster iteration, learning, shipping, and decision-making
2. The 6T Framework: Team, Timing, TAM, Technology, Traction, Tempo - in that order of importance
3. US Expansion is Non-Negotiable: For global markets, winners typically emerge from the US due to capital, talent, and market size
4. Founder Story Matters Most: Early-stage investing is about backing people who can persist through 10+ years of challenges
5. Product Above All: US investors will actually use your product - it must be 10x better, not just better
6. "Get on a Plane": Half-measures don't work; you must physically be in the US to raise from US VCs
7. Avoid the "Hollywood Sales Hire": Don't hire someone who succeeded on top of a machine; hire someone who can build the machine
8. Focus is Critical: Don't try to conquer "the US" - pick one city, one state, one market segment

Ali's Investment Thesis (Odyssey Ventures)

• Stage: Pre-seed and seed (first or second institutional check)
• Geography: UK and European founders
• Focus: Founders wanting to go global starting with the US immediately
• Sectors: AI and automation intersecting with the physical world (materials, health, science, deep tech, energy, transportation)
• Philosophy: "The world doesn't need another CRM with AI on top"

The 6T Investment Framework

1. Team - Incredible technologists who can attract other amazing people
2. Timing - Market timing beats almost everything else
3. TAM - Total Addressable Market (though great founders create new TAM)
4. Technology - Must be 10x better, not just better
5. Traction - Evidence that technology is actually better through user behavior
6. Tempo - Speed of iteration, learning, and execution

VC Decision-Making Insights

• The Numbers Game: VCs see thousands of companies annually but make only 2-3 investments
• First Impressions: Decisions are often made within the first minute of a pitch
• Monday Morning Meetings: Standard weekly partner meetings for pitch evaluation
• Investment Committee (IC): Final decision-making body with formal memos
• Prepared Mind: VCs with sector experience can make faster decisions

US vs European Fundraising Differences

European Approach:

• Path to profitability focus
• Smaller funding rounds
• More conservative growth expectations

US Approach:

• Growth above all else
• Larger funding rounds signal ambition
• Unit economics matter more than company profitability
• Product-led evaluation (VCs will actually use your product)

Resources Mentioned

• Companies: Huddle, Box, Dropbox, Handshake, Neuralink, Figma, Amazon, Uber, Lyft
• Investors/Firms: EQT Ventures, Kleiner Perkins, Mamoon Hamid
• Universities: Southampton University (maritime engineering)
• Locations: Silicon Valley, San Francisco, London, California

About USXP

USXP are the launch to revenue experts European tech scaleup companies count on for successful US expansion. Our Team of experienced operators will lead your company through the entire lifecycle of readiness, launch, and scale in the US market.

Hosts:

• David Rose - LinkedIn | X
• Matt Oxley - LinkedIn

Powered by

This episode is powered by Wilson Sonsini, providing legal counsel for technology companies and growth enterprises.

• Website: wsgr.com

Subscribe & Connect

Subscribe to Scaling Stateside on your favorite podcast platform:

• Apple Podcasts
• Spotify
• Audible

Follow USXP:...

Scaling Stateside Podcast - Episode 1: Matt Oxley's US Expansion Journey with Opal

Episode Overview

Welcome to the very first episode of Scaling Stateside! Host David Rose sits down with his business partner and co-host Matt Oxley to explore Matt's incredible 10-year US expansion journey with Opal. From selling everything he owned in London to securing funding from top-tier VCs like Accel, Matt shares candid insights about the human side of international expansion, the challenges of building enterprise relationships, and why "learning American" is crucial for UK founders entering the US market.

Episode Length: ~42 minutes
Published: October 1, 2025
Hosts: David Rose (USXP) & Matt Oxley (USXP)
Guest: Matt Oxley sharing his founder story

Guest Profile

Matt Oxley is a seasoned entrepreneur with 30+ years of experience scaling companies. He spent the last decade in the U.S. growing Opal into a successful B2B SaaS business, where he remains as President and board member. Now as Managing Director of USXP, he helps UK startups expand into the U.S. with the backing and insight they need. He’s also an Entrepreneur in Residence at Smedvig Ventures and an active angel investor supporting early-stage founders.

Connect with Matt:

• LinkedIn: linkedin.com/in/mdoxley

Key Discussion Points & Timestamps:

Early Entrepreneurial Journey (03:30 - 05:50)

The Origin Story of Opal (05:55 - 09:00)

Making the Decision to Move to the US (09:00 - 11:10)

The Reality of Uprooting Your Life (11:10 - 12:30)

The Human Side: Isolation and Loneliness (12:30 - 15:00)

Landing Enterprise Customers (12:40 - 16:15)

Go-to-Market in the Early Days (15:30 - 16:15)

Fundraising Journey: From Angels to Accel (16:15 - 20:15)

Scaling Beyond Founder-Led Sales (22:30 - 24:15)

Learning American: Cultural Adaptation (24:45 - 27:15)

Choosing Your US Location (27:30 - 31:05)

The Practical Challenges (31:05 - 33:20)

Partner Visa Challenges and Relationships (33:45 - 37:15)

The Decision to Return to the UK (37:20 - 39:00)

Final Advice: Just Book Your Flight (39:30 - 42:45)

Key Takeaways

1. Commit Fully or Don't Go: Half-steps and "trying it out" don't work in the competitive US market
2. The Human Side Matters: Isolation, visa challenges for partners, and cultural adaptation are real hurdles that need planning
3. US Brands Embrace Innovation: American enterprises are more willing to work with startups and take risks on new technology
4. "Learn American": Understanding cultural references, sports, and social cues is crucial for business relationship building
5. Avoid the "Hollywood Sales Hire": Don't hire someone who succeeded on top of a machine; hire someone who can build the machine
6. Location Matters: Choose your US city based on where your customers and talent are located
7. Enterprise Sales Requires Face-to-Face: Accessibility and willingness to travel are essential for high-value deals
8. The 10-Year Journey: Building a great business takes time, and the "missteps make you great"

Notable Achievements & Metrics

• First 5 customers: Nike, Beats by Dre (Apple), Nestle, Starbucks, Levi's
• Funding rounds: Angel funding → Series A (Madrona) → Series B (Accel)
• Timeline: 4 years from founding to Series B, 2.5 years between A and B rounds
• 10-year journey: Successful scale in the US market

Resources Mentioned

• Companies Referenced: Nike, Beats by Dre, Apple, Nestle, Starbucks, Levi's, Opal
• Investors: Madrona (Seattle), Accel (Sand Hill Road)
• Locations: Portland, London, Bermondsey, Sand Hill Road
• Key Concepts: Product-market fit, founder-led sales, enterprise sales, visa challenges

About USXP

USXP are the launch to revenue experts European tech scaleup companies count on for successful US expansion. Our Team of experienced operators will lead your company through the entire lifecycle of readiness, launch, and scale in the US market. www.usxp.co

Hosts:

• David Rose - LinkedIn | X
• Matt Oxley - LinkedIn

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Want to share your US expansion story on Scaling Stateside? Get in touch with the USXP team.

David Rose sits down with his business partner and co-host Matt Oxley to explore Matt's incredible 10-year US expansion journey with Opal. From selling everything he owned in London to securing funding from top-tier VCs like Accel, Matt shares candid insights about the human side of international expansion, the challenges of building enterprise relationships, and why "learning American" is crucial for UK founders entering the US market.