The founder and a couple others of us had previous work that put us in relationships with a lot of CIOs in medium to very large corporations. One of the pain po

The founder and a couple others of us had previous work that put us in relationships with a lot of CIOs in medium to very large corporations. One of the pain points that we heard over and over was the IT acquisition process and dealing with overwhelming sales pressure from vendors wanting their attention. By creating a two-sided market we could establish project parameters and reach out to vendors without revealing the identity of the buyers until the vendor had made the short list. Our thought was that if you get the buyers on the platform and they tell all their vendors here is how we do business if you want to propose/bid on our projects you have to go through this platform - then we would collect a commission on awarded projects. But, CIOs loved the idea and platform but staff who actually manage vendors and acquisition wouldn't consistently use the platform. And, most CIOs didn't love the platform so much that they would pull out the big guns and make using the platform mandatory for their staff. I don't know if it takes lots of capital but it was clearly going to take a round B and investors got scared by the lack of anything resembling sustainable revenue. I feel like with capital to last another couple of years we could have overcome the staff adoption problem but as it was we ran out of money.