Vivun’s co-founder and CEO, Matt Darrow utilized to run pre-sales at Zuora and he saw that pre-sales team members had a great deal of insight into customers. He believed if he could record that insight, it would develop into valuable data to be shared across the company. He introduced Vivun to build upon that concept in 2018, and today the company revealed an $18 million Series A.
Accel led the round with participation from existing investor Unusual Ventures. With today’s financial investment, Vivun has raised a total of $21 million, according to the business.
Since this is an unique product classification and there has actually been a lot of demand for it, Darrow states that the company has actually caught the attention of investors. “It ends up that companies of all startups, sizes and enterprises, are actually yearning a service like Vivun, which is dedicated to pre-sales. It’s a big, costly department, and there’s never been software application for it in the past,” Darrow told TechCrunch.
He states that a number of numbers stand apart in the business’s very first year in company. First of all, the startup grew yearly recurring revenue (ARR) six fold (although he would not share specific numbers) and tripled the workforce growing from 10 to 30, all while doing business as an early phase start-up in the midst of a pandemic.
Darrow stated while the business has actually grown this year, he found smaller sized businesses in the pipeline were cutting down due to the impact of COVID’s, however bigger organizations like Okta, Autodesk and Dell Secureworks have completed well, and he states the product actually fits well in larger enterprise companies.
“If we take a look at our value proposition and what we do, it increases greatly with the size of the business. The bigger the team, the larger the silos are, the bigger the organization is, the larger the value of resolving the problem for pre-sales becomes,” he said.
After going from a group of 10 to 30 workers in the last year, Darrow wishes to double the head count to reach around 60 staff members in the next year, sustained in part by the new investment dollars. As he constructs the business, the founding group, which is comprised of 2 men and two women, is focused on building a diverse and inclusive staff member base.
“It is something that’s really important to us, and we’ve been working at it. Even as we went from 10 to 30, we’ve worked to pay very close attention to [variety and inclusion], and we continue to do so simply as part of the culture of how we develop business,” he stated.
He’s been having to build that labor force in the middle of COVID, however he states that even prior to the pandemic closed down workplaces, he and his establishing partners were big on flexibility in regards to time invested in the workplace versus working from house. “We knew that for psychological health strength and stability, that remaining in the office 9 to five, five days a week wasn’t really a modern-day design that would suffice,” he said.
Even pre-COVID the company was using 2 quiet durations a year to let individuals revitalize their batteries. In the middle of COVID, he’s attempting to offer people Friday afternoons off to head out and exercise and relax their minds.
As the startup grows, those types of things may be more difficult to do, however it’s the sort of culture Darrow and his founding partners intend to continue to promote as they develop the company.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.