The best part about this job is serendipity. You walk in to a meeting any day of the week and you might just find a deal that you totally fall in love with. That’s what happened when I caught up with VikSingh from Infer one morning a while back.
We believe Vik and the Infer team are building a category defining SaaS company that leverages data science to help businesses identify their most valuable potential customers. Infer is a customer intelligence platform built by crawling your own historical selling patterns and matching it with the vast swaths of data on your potential customers available across the web. This level of customer intelligence has already drastically improved top line growth for all of its current customers.
At Redpoint, we have been looking for “path of revenue” deals. We define “path of revenue” products as those that help other companies grow their top line revenue. Salesforce is the quintessential example of this type of product. Two of our portfolio companies, Zendesk and Zuora, also have created products that help companies grow their top line revenue. We like this category because of the fundamental belief that CEOs will always find budget to grow revenue irrespective of macro factors at play. Infer and its solution directly benefits top line growth and fits in very well with our thesis. This has been ratified by the enormous sales traction that the company has enjoyed thus far – signing several multi-year agreements with customers who have seen their own sales/win rate double since they started using Infer.
But that’s not the most interesting part of Infer. In my mind, there are two reasons why we think this is going to be a very special company. First, their solution is unique and completely differentiated from everything else we have seen in the market. Most sales lead scoring or marketing automation platforms do not have the kind of technical prowess that Infer has. And its not technology for technology’s sake. It’s the first real application of big data, machine learning and predictive analysis to build a customer intelligence platform. A platform that directly benefits revenue growth.
Second – we just loved the founding team. Vik, Yang and Chung were crazy smart guys and worked really well together as a team. It’s always refreshing to see founding teams that have had a long history of working together. Vik has built a formidable tech team at Infer and was a big reason for our investment. He is a rare technical talent – but the most impressive thing about him is how good of a business leader he is. He understands the complications of the market and the go-to-market implications really well. He is thoughtful and open about the challenges and the opportunities in the market. He surrounds himself with great people and is strong willed and decisive yet open minded to hearing suggestions. In short, Vik is the kind of founder/CEO we like to back. Then we broke some bread and had some sake… it was clear that the cultural fit with Chung, Yang and Vik couldn’t be any better.
We are really excited to welcome Vik and Infer to the Redpoint family and look forward to building a great company together.