When we consider investments, we look at a business’ market opportunity, its people, and its product. If the opportunity is big, the market is bound to get crowded because lots of companies will want to win in that space. That’s why at Redpoint, most of our investment decisions revolve around the people, and we look for teams or DNA that can actually go and win in their market.
We first invested in Infer’s Series A 18 months ago because it fit this investment philosophy. The company had a path-of-revenue product and early success with marquee customers like New Relic, Zendesk and Tableau. We knew that if Infer could prove repeatability and deliver predictive-as-a-service to companies of all sizes, that’d be huge. But most importantly, we were extremely impressed by CEO Vik Singh and his team. They were clearly talented from not only an entrepreneurial and technical perspective, but on the business side as well. With the recent addition of Jim Herbold, who grew Box’s annual recurring revenue from under $1 million to over $100 million, Infer has truly formed a dream team.
As a member of the board, I’ve enjoyed a front row seat as the company’s story has unfolded. Infer has grown revenue bookings 150% quarter after quarter, and consistently boosted customers’ win rates through applications that can be deployed easily by any business. Along the way, I’ve built trust with Vik and been able to see his talents at work. Since I’ve been on the other side of the table, I know how rare it is to find an entrepreneur who is so intelligent about decisions, who understands the strategy, and whom I can respect and challenge because he’s open to suggestions.
When it came time for Vik to raise the Series B funding, he garnered considerable VC interest due to the company’s great traction and vocal customers. At Redpoint, we have so much trust in Infer that we just had to go all-in and lead the B round as well. We have tremendous belief in this A+ team and their ability to win in a hot market, and we couldn’t be more excited about what’s to come.