It was only a few years ago when the Valley was a venture capital wasteland. That has turned around — thanks in large part to the high-profile successes of Infusionsoft and WebPT. Each big tech success story spawns greater interest and capital for the local tech ecosystem; some of the bigger tech exits have been Carvana, LifeLock, HealthiestYou and Tuft & Needle.
Almost 70 percent of the U.S. venture capital dollars going into tech companies is now outside of SF (as discussed in a recent issue of The Economist). This is getting secondary and tertiary venture markets like Phoenix on the map as real players in the global tech scene. In the past couple of years, we’ve seen some of the “who’s who” VCs like Kleiner Perkins, Foundry and Sequoia cut checks into Arizona companies. I’m optimistic that we’re going to continue to see Phoenix be a real place for tech companies to be born.
The cover story in this issue delves into the venture capital landscape of today’s Phoenix, which encompasses a wider range of business sectors. In Business Magazine editor RaeAnne Marsh brings together details of venture capital activity here to give an overview that shows Phoenix businesses are attracting investor attention from far beyond our local borders.
The new year is, historically, a time to review one’s practices and consider what changes might be appropriate for the coming year. With that in mind, this January issue of In Business Magazine presents feature article “Unlocking Your Company’s Hero Potential” by Jeffrey Hayzlett on how a business’s leadership can get beyond the fear of failure that produces stagnation to nurture the sharing of innovative and strategic ideas. And, with cyber break-ins now a ubiquitous threat, it’s also worth looking back at some of last year’s most conspicuous attacks, and take to heart the analysis in “The 5 Most Cringe-Worthy Privileged Data Breaches of 2018” from BeyondTrust’s Morey Haber.
A couple of helpful “how-to” articles fill the Briefs page, with tips on how to avoid common bookkeeping mistakes and overcoming recruitment challenges. The Technology page addresses the strain that growth — from expansions in workforce and operating systems — places on IT resources. Other business-relevant content covers a range of other topics.
Also in this issue is the annual Meetings & Conventions Guide, the Valley’s most comprehensive guide to events venues.
I’m pleased to help bring you this January issue of In Business Magazine. I hope you enjoy the read.
Chief Executive Officer
Zach Ferres is the CEO of Coplex, a nationally ranked venture builder that partners with industry experts to start high-growth tech companies. Coplex has helped start more than 280 startup companies around the globe that have an aggregate market value of more than $4.5 billion. Ferres sold his first technology company at age 24 and was recognized as one of the top 33 student entrepreneurs in the world. Outside of Coplex, Ferres is an award-winning speaker, a runner, and a columnist for Entrepreneur Magazine.