Lars Dalgaard Joins Venture Capital Firm Andreessen Horowitz
Lars Dalgaard is the founding CEO of SuccessFactors, which was acquired by SAP for $3.5 billion in 2011. SuccessFactors was a cloud-based human resources company. Dalgaard stepped down from SAP several days ago and he has now joined venture capital firm Andreessen Horowitz as a general partner.
“Lars is spectacularly qualified. He founded and ran Success Factors and led them to $364M in annual revenue ultimately resulting in a $3.5B acquisition by SAP in 2011. This was by far the largest and most important acquisition in the history of the SaaS category. SAP then put Lars in charge of its newly formed Cloud Business unit, which he promptly grew to $1B in annual revenue. He also served as a member of the SAP Executive Board and the SAP Global Managing Board. He holds a B.A. from Copenhagen Business School, Denmark and an M.S. from Stanford University Graduate School of Business as a Sloan Fellow. And if you are an entrepreneur doing business internationally, Lars speaks 7 languages,” stated Andreessen Horowitz co-founder Ben Horowitz.
Dalgaard was courted by multiple companies before joining Andreessen Horowitz including three private equity firms. Dalgaard said that he did not want to fix other people’s companies and wanted to focus on influencing the future.