Matik, which has created automated data-driven software program for customizing Google Slides or PowerPoint displays, has raised $20 million in a Sequence A funding spherical led by Andreessen Horowitz (a16z).
Menlo Ventures, BoxGroup and Oceans Ventures additionally participated within the financing, which brings the San Francisco-based startup’s whole raised to simply over $23 million since its 2019 inception. The enterprise corporations joined a bunch of angels — together with GTM Fund, angel investor Keenan Rice (who was a part of Looker’s founding crew), Allison Pickens (former COO of Gainsight), Elena Verna (former SVP of Progress at SurveyMonkey) and Jon Herstein (present CCO at Field) — who additionally put cash within the spherical.
Matik’s product targets data-driven organizations, particularly gross sales and buyer success groups, to make it simpler to create customized displays akin to quarterly enterprise critiques, pricing proposals and one-pagers. It really works by mechanically importing content material from a wide range of information sources, in accordance with Nikola Mijic, co-founder and CEO of Matik.
The startup says its expertise transforms content material from static to dynamic — whether or not it’s textual content, charts, photographs or tables. It claims to save lots of groups time from number-crunching, formatting and information pulling from disparate sources akin to CRMs like Salesforce, BI/visualization instruments like Looker and information warehouses akin to Redshift, BigQuery or Snowflake.
As a result of the content material is dynamic, displays are “utterly editable” after they’re generated, the corporate says.
With Matik, “what used to take hours is decreased to minutes,” leaving extra time for strategic work, in accordance with Mijic. Enterprise and mid-market firms are its goal clients and it claims to have the ability to assist them lower your expenses in addition to assist convert and retain clients.
“Some individuals spend 4 to 6 hours every week to create data-driven tales, and we get it down to some minutes, saving them over 200 to 300 hours a 12 months to do extra strategic work and communicate to clients,” he advised ahosti.
The corporate runs on a license-based mannequin, and has seen many firms purchase a sure variety of licenses after which “broaden fairly shortly” to completely different groups by shopping for extra licenses.
In a brief period of time, Matik has constructed up a buyer base that features some huge names, together with Glassdoor, KeepTruckin, Handshake and Hover. It says that since Handshake began utilizing Matik, it’s already saved 4,500 hours. Whereas he declined to disclose any onerous income figures, Mijic mentioned Matik has grown “by 3x” for the reason that starting of the 12 months and he expects it can have grown “by 4-5x” by 12 months’s finish in comparison with the tip of 2020. To this point, he added, it has had “zero churn.”
Mijic first got here up with the idea behind Matik whereas at LinkedIn. He was supporting gross sales and buyer success groups and was always requested to assist put collectively displays on the final minute by, for instance, operating a bunch of queries that pulled information. There, he labored on an inside answer to facilitate the presentation-building course of for the corporate’s go-to-market groups and led the eventual redesign of the answer.
Mijic then teamed up with early Field worker Zak Stein to discovered Matik to resolve the issue extra broadly.
Wanting forward, Matik needs to discover the potential of making use of its expertise to e-mail, or “something that’s repetitive in nature that must be customized.” It additionally needs to broaden its product providing to groups past gross sales and go-to-market.
“Storytelling is not only in a presentation,” Mijic mentioned. “We are able to take what’s core to our product and infuse it to different varieties of narratives.”
It additionally, naturally, needs to do some hiring. The corporate at the moment has 13 workers and expects to spice up its headcount to twenty by the tip of the 12 months.
A16z basic accomplice Kristina Shen, who will sit down on Matik’s board as a part of the increase, mentioned Matik has constructed a product that automates “a vastly guide and painful course of” for a lot of enterprise capabilities: the personalization and updating of information in displays.
She described the Matik product expertise as “extremely seamless and intuitive,” giving an finish consumer the flexibility to create a whole presentation “with just some inputs and clicks.”
“Buyer suggestions for Matik is persistently effusive and actually speaks to the actual fact there are not any passable alternate options out there,” she wrote by way of e-mail. “Contemplating the numerous use of and ongoing want for data-rich displays as a key storytelling device, we imagine the long-term potential of Matik is huge.”
Naomi Ionita, accomplice at Menlo Ventures, led Matik’s $3 million seed spherical in October of 2019. She mentioned she was drawn to the crew’s authenticity in addition to the product market match.
“You may think about individuals laboring over these decks, pulling information from all these disparate sources with the purpose of actually crafting a narrative and personalizing it after which having to tweak the story primarily based on completely different information factors and ensuring that story flows, month after month or quarter after quarter,” she mentioned.
Thus, the time financial savings are an apparent profit “out of the gate,” in accordance with Ionita.
“The opposite profit right here is driving income, as when firms spend painstaking hours placing displays collectively, they have an inclination to solely be capable to cowl a sure proportion of their accounts,” she advised ahosti. “And so by automating this, we’re seeing clients be capable to improve their account protection. And all of those customer-facing of us will verify that when you have got the personalized effect level with their clients, it does have an effect on growth and renewal alternatives.”