Stop it, who made automated data-driven software for customizing Google Slides or PowerPoint presentations, Raised $20 million in a Series A funding round led by Andreessen Horowitz (a16z).
Menlo Ventures, Boxgroup and Oceans Ventures also participated in the financing, which brings the San Francisco-based startup’s total raise of more than $23 million since its 2019 founding. Venture Firms Join a Group of Angels — Including GTM Fundhandjob Angel investor Keenan Rice (who was part of Looker’s founding team)handjob Allison Pickens (former COO of GainSight), Elena Varna (former SVP of Growth at SurveyMonkey) and John Herstein (current CCO at Box) – who also put money in the round.
Matik’s product targets data-driven organizations, especially sales and customer success teams, to make it easier To create personalized presentations like quarterly business reviews, pricing proposals and one-pagers. It works by automatically importing content from various data sources, according to Matic co-founder and CEO Nikola Mijic.
The startup says its technology transforms content from static to dynamic – whether it’s text, charts, images or tables. It claims to save teams time by number-crunching, formatting, and storing data from different sources like Salesforce, BI/visualization tools like Looker, and data warehouses like Redshift, BigQuery or Snowflake.
Because the content is dynamic, presentations are “fully editable” once generated, the company says.
According to Mijik, with Matic, “what used to take hours is reduced to minutes,” leaving more time for strategic work. Enterprise and mid-market companies are its target customers and it claims to be able to help them save money as well as help them convert and retain customers.
He told Nerdshala, “Some people spend four to six hours a week creating data-driven stories, and we reduce that to a few minutes, giving them years to work more strategically and talk to customers.” Saves 200 to 300 hours. .
The company operates on a license-based model, and many companies “expand very quickly” to different teams by purchasing a certain number of licenses and then purchasing more licenses.
In a short period of time, Matik has built up a customer base that includes some big names, including Glassdoor, KeepTruckin, Handshake, and Hover. It says that since Handshake started using Matik, it has already saved 4,500 hours. Although he declined to reveal any hard revenue figures, Mijik said Matic has grown “3x” since the beginning of the year and he expects it to grow “4-5x” by the end of the year compared to the end of 2020. ” Will increase. So far, he said, there has been “zero churn”.
Mijik first came up with the concept behind Matic while at LinkedIn. He was supporting the sales and customer success teams and was constantly asked to help put together last-minute presentations, for example, by running a bunch of queries that pulled data. there he Worked on an internal solution to facilitate the presentation-building process for the company’s go-to-market teams and led the final redesign of the solution.
Mijik then teamed up with the starting box employee. zak stein To find Matic to solve the problem more comprehensively.
Looking ahead, Matic wants to explore the possibility of applying its technology to e-mail, or “anything that is repetitive in nature that needs to be personalized.” It also wants to expand its product offering to teams beyond sales and go-to-market.
“Storytelling isn’t just in a presentation,” Mijic said. “We can take the core of our product and incorporate it into other kinds of narratives.”
It also, naturally, wants to do some hiring. The company currently has 13 employees and expects to increase its workforce to 20 by the end of the year.
A16z general partner Christina Shen, who will take a seat on Matik’s board as part of the increase, said that Matik has created a product that automates “an extremely manual and painful process” for many business tasks: Personalizing and updating data in presentations.
He described the Matik product experience as “incredibly intuitive and intuitive”, giving the end user the ability to create a complete presentation “with just a few inputs and clicks”.
“The customer feedback for Matik is consistently impressive and really speaks to the fact that there are no satisfactory alternatives in the market,” she wrote via email. “Given the diverse use and ongoing need for data-rich presentations as a critical storytelling tool, we believe Matic’s long-term potential is enormous.”
Menlo Ventures partner Naomi Ionita led Matic’s $3 million seed round in October 2019. She said she was drawn to the team’s authenticity as well as product market fit.
“You can imagine people working at these desks, pulling data from all these disparate sources with the goal of really crafting a story and personalizing it and then twisting the story based on different data points. And making sure the story flows month to month, or quarter to quarter,” he said.
Thus, saving time “out of the gate” is a clear benefit, according to Ionita.
“The other benefit here is driving revenue, because when companies spend painstaking hours putting together presentations, they are only able to cover a certain percentage of their accounts,” she told Nerdshala. “And so by automating this, we’re seeing customers are able to increase their account coverage. And all these customer-facing people will confirm that when you have personal contact with their customers, that’s expanding.” And there is an impact on renewal opportunities.”