We share executive moves, placement insights, and Software and SaaS PE leadership trends weekly — feel free to follow us on LinkedIn here:
‘Software is Eating the World’ And Most Search Firms Are What’s For Dinner
by Eric Walczykowski, Adam Boone
“Why Software is Eating the World” was the title of a legendary blog posting by tech industry icon Marc Andreessen.
The co-founder of Netscape and venture capital firm Andreessen Horowitz (A16z) was beyond prescient when he wrote that 13 years ago.
The same year is when Kristie Nova founded our firm, Bespoke Partners, with our unique exclusive focus on executive recruiting for software and SaaS companies.
And today, as software and SaaS companies reach new levels of transformational innovation generating trillions of dollars in value, one part of the world that has been profoundly changed is the world of executive search.
If you are working with a generic, jack-of-all-trades recruiting firm that focuses on any industry, you are setting yourself up for slower searches with worse outcomes. Simply put, these firms don’t have the expertise to understand the sector or the clock speed to deliver at the industry’s pace.
PART 1:
The New Recruiting Best Practices Blog Series
-
TODAY:
Sector Focus Drives Better Outcomes in Software
-
UP NEXT:
How Function Specialist Firms Outperform
Software Eats the World
In the years since Marc’s statement, the software and SaaS markets have experienced tremendous growth and transformation, reshaping industries and business models across the globe.
The SaaS model became a dominant force, offering scalable, cloud-based solutions that eliminated the need for costly IT infrastructure. Companies like Salesforce and Adobe led the charge, with Salesforce seeing its revenue grow from $2.27 billion in 2012 to over $31 billion in 2023, reflecting the increasing reliance on SaaS platforms by enterprises worldwide(Mattermark, McKinsey & Company).
This shift wasn't limited to tech companies; traditional industries, from finance to healthcare, have been deeply transformed by software and SaaS. For example, a JPMorgan Chase executive described her firm as a technology company that happens to hold a banking license, emphasizing how integral software has become to its operations (CHM).
Today, the ongoing evolution of AI and machine learning has further accelerated this transformation of all the world’s companies, large and small.
And Talent Is Driving
In years past, private equity investors relied on proprietary deal flow and financial engineering to create value and achieve an investment thesis.
Today, it is universally understood that leadership talent is the overriding factor for creating outsized returns.
Since Kristie founded Bespoke Partners, we have exclusively targeted recruiting in the software executive market, a decision that has been fundamental to our success.
Why software? The answer lies in the complexity and rapid evolution of the software industry, where success is driven by a unique set of skills and experiences that are not easily transferrable from other industries.
By focusing solely on software, we have developed a deep understanding of the industry’s dynamics, from the specific challenges faced by different software subsectors to the strategic initiatives that drive growth.
Where the Generalist Firms Fail
Most executive search firms are generalists and are willing to take on any senior executive search regardless of industry. This is why time and again we are brought in by clients where searches have stalled or failed to produce any meaningful results even after many months.
-
It’s our specialization in software that enables us to deliver better candidates faster than these old school firms. Specifically:
For Clients:
Our software specialization ensures that we can quickly identify and engage with top talent who are not only qualified but are also the perfect cultural fit for the organization. Our deep industry knowledge allows us to anticipate market trends and recommend executives who can lead companies through periods of rapid change and growth.For Candidates:
Executives know that when Bespoke calls, it’s because we have a genuine opportunity that aligns with their expertise and career aspirations. This reputation has led to an 82% executive conversion rate—meaning that when we reach out to potential candidates, they answer the call. This conversion rate far exceeds the industry norm and is how our clients get the most comprehensive and accurate view of the software and SaaS talent market.
We are trusted advisors not just during the search process but often as early as the LOI phase, where sponsors consult with us on talent strategy before making an investment. Our ability to identify and place the right executives, often those who are a step up from their current roles, has made us an indispensable partner in the success of our clients.
THE INDUSTRY LEADER IN SOFTWARE TALENT
95%
placement success rate – our leaders stay in seat at least 1 year post placement
400+
software companies transformed
425+
exits and M&A transactions by our software company
$135B+
enterprise value created
Bespoke Partners’ singular focus on software executive search is not just a strategy—it’s a proven formula for success.
Our deep industry expertise, combined with our comprehensive coverage of 27 software subsectors, allows us to deliver results that are unmatched in the industry. Whether you’re looking to fill a critical leadership position or need strategic advice on your talent acquisition, Bespoke Partners is uniquely positioned to deliver.
Bespoke Partners Named in Top 10 of the “Top 49 Retained Executive Search” 2-Years Running by C-Suite CV Secure.
Authored by:
Share this article: