New business development manager hires with $100M startup: ‘I had never been a consultant before’
Business development manager Matt Stelzer has been hired to join an elite startup team as its chief business development officer.
The San Francisco-based company, called Business Development Manager, is an independent venture capital firm founded in March 2016 and focused on working with startups to help them grow.
Stelzer, who will be joined by fellow founding partner David Koehler, will become the company’s CEO and chief financial officer.
In an interview with Next BigFuture, Stelzers team announced it has raised a $100 million Series A round led by Goldman Sachs.
The company also announced it had secured an additional $50 million in additional funding from Kleiner Perkins.
The company said it had been in the process of filling out its hiring process for about a year, and the announcement comes just a month after its founders announced a $250 million funding round led at Goldman Sachs, along with a $150 million investment from Google Ventures and the U.S. Army Corp. of Engineers.
Stolzer will join the startup from his previous role as a partner at investment firm Blackstone Group, where he led the company as a portfolio manager.
“I had been a portfolio analyst for several years and had been with the company for over a year,” Stelzi said in an interview.
“We are really excited about this new opportunity to join a very talented team, and it is a fantastic fit for us.”
Stelzler said he was interested in the role because it allowed him to focus on other business issues while also contributing to the startup’s growth.
He said the startup has more than 40 employees, and Stelzman will be working with about half of them, including a handful of senior executives.
Stalzzer said he will have the opportunity to grow the company while also helping the founders grow.
“We have a really big vision, and that vision is to help startups succeed and to help people achieve their dreams,” he said.
“My goal is to make sure that all of these guys are getting paid on time and getting their work done on time.”
The team is looking for someone who is able to bring a wealth of experience and drive to the team, said Stelze, who joined the startup in June 2016.
“They have a strong passion for startups and they have the ability to bring that passion and drive.
This is a very exciting and exciting opportunity for us,” he added.
Stelszer said the company has been working closely with Google Ventures, the U-Boot, and Blackstone on the hiring process.
“All of us here at the startup are incredibly excited about what we are seeing with these new people and we’re excited to bring them to the company,” Stelszer added.
The new company will be headquartered in San Francisco and has an office in Palo Alto, California.
Stelzo said the team has been in touch with a number of other venture capital firms about the hiring, and he expects to start hiring soon.
The team has already started hiring.
In the last few weeks, it has hired several full-time developers, including one who will join as a part-time consultant and one who is working as a contractor.
Stlzer said one of the main reasons the team is bringing in so many people is because of the need to build out its infrastructure.
“This is an entirely new way of doing things, and this is not just about the technical side, this is also about the business side,” he explained.
“It’s about bringing in talent from outside of Silicon Valley and helping these companies grow, and we think it’s going to be a fantastic place for them to do that.”
For more business news from Next Big, check out Next Big Business.