Andy Ambrose
President & Co-Founder
LiveOak Technologies (acq. by DocuSign)
GET TO KNOW ANDY...
Hometown:
Sugar Land, TX | Currently resides in Austin, TX
Alma Mater:
Texas A&M University
Motto:
Life is like a bank account; you have to make deposits, not just withdrawals.
Hobbies:
Walking/Hiking (sometimes jogging)
Q: What was your very first job?
A: I’ve had a job since I was 10. Paper route, yard business, lifeguard, grocery sacker/stocker — there are so many early jobs that defined my work ethic.
Q: What is the history of Liveoak Technologies? How did you get started, and what problem were you trying to solve?
A: Pete Rung and I started Liveoak Technologies after working for two decades as sales and technology executives for large financial services enterprises like John Hancock, Mass Mutual, and Charles Schwab. We knew from experience that there was an obvious need for improvement and transformation around bringing on new customer accounts and ongoing customer interactions, as well as solving more complicated types of interactions that required in-person meetings (such as Notary).
Q: What was the hardest part of your funding journey? How did it compare with the acquisition by DocuSign?
A: All of it. Seriously, though, we were advised early on by advisors and mentors that we would ABF (always be fundraising) — and that lived up to the truth. Our acquisition was a result of partnership discussions that led to strategic fundraising discussions that turned into acquisitions discussions. So, it really was all in the same spectrum of energy.
Q: Who (or what) has been your biggest support or resource within the startup ecosystem?
A: Our wives, for starters. You should have seen the look on their faces when Pete and I told them that we were quitting our day jobs to start a fintech software company in our prime earning and college savings years. But their support was critical. We also had an amazing roster of mentors and advisors without whom we could not have pulled this off.
Q: What are the greatest lessons you’ve learned so far as an entrepreneur?
A: It’s as hard as everyone tells you it is — and you have to be a little bit crazy to try in spite of that!
Q: What is the best advice you have received that you would like to share with others?
A: Your cap table becomes your family. Work hard to have harmony.
Q: What is your favorite thing about doing business in Texas?
A: It’s simply the best environment to start and build a business. Period.
Q: What has been the most beneficial support you’ve received from S3?
A: S3 was absolutely amazing to work with. They added so much value above and beyond the investment — which is exactly what you want in a partner. They invested in a stage when we had to live up to the operational standards of the largest financial companies in the world. They were extremely generous with their time and expertise (thanks Charlie and Aaron!).
Q: What has been your most satisfying moment in your business journey so far?
A: Seeing our solution being deployed at scale as part of DocuSign — one of the best software companies in the world.
Q: If you were to write a book or movie about yourself, what would be it be called?
A: Not sure, but it would be a sales/trade show mockumentary starring Ed Helms.
Headquartered in Austin, Liveoak Technologies is an enterprise collaboration platform designed to replace complicated in-person interactions. Liveoak Technologies combines new technologies in video conferencing, collaboration, and electronic signature to provide a solution to enterprises who are reinventing their customer journey.
Liveoak Technologies was acquired by DocuSign, Inc. in July 2020, and is deployed as DocuSign Notary and DocuSign Assist across SMB to Enterprise customers.
“Your cap table becomes your family. Work hard to have harmony.”