Creating a Step Change in Effectiveness for B2B Marketers, or Why We Invested in Slintel
Imagine you sell a SaaS-based HR tool to enterprises. Your solution specifically targets employee engagement, integrates to varying degrees of effectiveness with existing full service HRMS systems, and has very distinct advantages as compared to two key competitors. Over time, you have discovered your ideal customer profile – VP of HR at a company with 1000 to 5000 employees, ideally with multiple office locations. You have also realized that your chances of conversion improve significantly if the company has installed a particular HRMS, if the VP of HR has used your solution previously, and if the company is already using either of the two competitors you fare well against. You have subscribed to the usual databases that provide organizational details – such as company size, office locations, reporting structures and so on – for enterprises, and have used it to arrive at a first list of companies to reach out to. Now, if only there was a solution which could further filter which enterprises to go after by analyzing their technology usage!
If the above sounds familiar, it’s because it is – prioritizing prospects is one of the most important determinants of success in outbound B2B marketing. That is why, when we met Deepak and saw what Slintel was building, we were extremely excited. Slintel analyzes technographic information – signatures left by digital products in an increasingly connected world – to help marketers refine their targeting to hitherto unknown levels. In addition to a database of 50 million contacts, Slintel captures technographic information for 16 million companies – data that refreshes each week, and their algorithms identify signatures for 45,000 products – a number that is increasing every day. Consequently, Slintel can tell you information such as which companies are using competing or complementary products, when they started using those products, which people in their team are likely to have used which products in the past, and more.
We have known Deepak from the very early days of Slintel. With his past experience of selling software products to customers in the US, he brings the perspective and domain expertise that come with a personal affinity for the problem. While we were always excited about his vision, what impressed us even more during the journey was his perseverance and the quality of execution. Deepak handled a full-time job in the Bay Area and responsibilities as a father of two young children, while also building Slintel with a high caliber team based in India. Along with his co-founder Rahul, he figured out how to convert Slintel from a technology to a business, with multiple extremely satisfied customers at the time we decided to invest.
The momentum in the business has continued unabated since then, and we feel excited and privileged to be part of this journey. We are also delighted to partner with Accel, who bring significant experience in helping create market leading SaaS companies globally.