From Marlborough to worldwide – Benjamin Hosack, chief commercial officer (CCO) and co-founder of cyber security business Foregenix, tells Thrings partner Kate Westbrook how they did it and what winning a Techies award has meant to the business.
Tell us about Foregenix and your role
We’re a cyber security business focusing on the payment space. Celebrating our tenth birthday in May, we deliver guidance and solutions to help protect companies and organisations accepting card payments. My role as CCO is mainly about business development, making sure we’re having the right conversations with the right kinds of organisations, managing sales and ensuring we deliver as promised.
Name one thing your business is particularly proud of
We built this business from scratch – from a handful of people in Surrey (we moved to Marlborough seven years ago) to the global business we are today. Our team is spread across the world, supporting clients from Russia to Argentina and pretty much everywhere in between. It makes me proud that we’re competing against massively well-funded businesses. We’re punching well above our weight and love being the small guy in the fight – taking on these big corporates (and winning).
What’s behind your global success?
It’s 100% down to our people. Yes some of it is about leadership and taking the right steps at the right time to expand strategically, like we did with Asia Pacific and the States, but it’s also about being able to deliver as the business grows. Our clients pulled us into new territories like Australia and our presence in Latin America grew naturally too. Without those great people working for us, we would never have been able to do it – and to hold onto these clients.
Have there been challenges along the way?
I’d say our biggest challenge is cash, crucial when expanding or developing new products (which can take years). We’ve done a bit of crowdfunding through Funding Circle on a couple of occasions, which has worked quite well. As an international business working across lots of different time zones, communication is another big challenge. We use a software tool internally that’s helped us communicate concepts more easily – that’s made a big difference. Video conferencing is great too – we use it all the time.
What’s the best thing about your job?
When we set out, and meet, an objective – whether it’s sales related, launching a new product or helping a client identify and deal with a big problem. It’s massively rewarding. I’m very much driven by results and, being in sales, you’re always chasing a target – I thrive on that.
What has winning a Techies award meant to Foregenix?
One of our website-protection products won it for us last year, which was fantastic. We got some great PR and it really generated a buzz internally and externally – we’ve had clients as far as Australia and the States asking about it. The award is proudly displayed alongside our Sunday Times Export Track 100 and Fast Growth 50 accolades. Winning the right kinds of awards really adds credibility to your brand, which is helpful when speaking to prospective clients, partners or investors. We’ve certainly seen an increase in private equity/venture capital businesses calling us up off the back of it too. We would absolutely encourage anyone considering the Techies to go for it!
The Techies Awards 2019 is open for entries until Monday 8th April 2019. To find out more and to enter visit: www.the-techies-sw.co.uk
For more about Thrings visit: www.thrings.com And for more about Foregenix go to: www.foregenix.com
Pictured above: Kate Westbrook of Thrings with Benjamin Hosack, director and co-founder of Foregenix, based in Marlborough.