We are very excited to announce Redpoint’s investment in RelateIQ, a SaaS platform that is turning the traditional CRM space on its head. We have been admirers of the company (and very happy customers!) for some time and are thrilled to welcome them to the portfolio.
We began using the RelateIQ product last year and were blown away by its impact on our business. At Redpoint, we are in the business of managing relationships with entrepreneurs. To help managethese relationships, up until recently, we used a traditional customer relationship management tool. While traditional solutions worked “ok”, we found them limited; they required considerable manual data entry and, most importantly, didn’t really help us do our job more intelligently. Enter RelateIQ. The team at RelateIQ has been busy building a fantastic product with several key innovations:
- Automatic data capture. With RelateIQ youdon’t have to manually input events (e.g., that you sent an email or had a meeting with a prospective customer); this is all automatically ingested into RelateIQ and associated with the relevant company/relationship entries.
- Deep collaboration. With RelateIQ you can see all communications between your organization and a prospective customer, including email, meetings and notes. This keeps all team members in the loop so they have full context on the relationship – no more accidentalwire-crossing or unnecessary copying on emails.
- Data insights. RelateIQ uses its rich data set to help you manage your relationships better. For example, if youforget to respond to someone’s email, RelateIQ will automatically remind you. Another example is RelateIQ’s “Closest Connection” feature, which lets you look at your team’s network to determine who might be the best colleague to make a warm introduction into an account.
It is the data insights which have us so excited over the long run. We see RelateIQ as a forerunner in an emerging category of data-driven applications. These applications combine the flexibility of SaaS with intelligent insights powered by big data. In the future, these smart apps will not only help automate processes, but also will help users make better decisions.
RelateIQ has very ambitious goals and they have the team capable of achieving great things. The founders, Steve Loughlin and Adam Evans, have built a very talented team top to bottom and they have also spent considerable energy creating anamazing culture that has every team member invested in the continued success of the business. It’s a fantastic place to work.
We have been happy users of the RelateIQ product for some time and are thrilled to welcome Steve, Adam and the entire RelateIQ team to the Redpoint family. We look forward to working together for years to come.