Customer.io
With the explosion of online software and product services, Customer.io keeps ahead of the pace with a targeted messaging platform for internet businesses. They’re thinking differently, with tools that put marketing teams in control of communication, and able to break down data themselves. Translation: Higher conversion rates. No IT required.
Customer.io approached OVF after moving to Portland in late 2014. They had raised their first outside capital the previous year, were already producing significant revenue, and were growing rapidly towards serving larger customers.
“It was important to us to become part of the community, not just exist in the community. I was really interested in OVF because of the support — I felt I could reach out to members who will get their hands dirty to help us solve a hard problem.”
Colin recognized OVF as a network of people—now a family—rooting for them to succeed. In turn, OVF saw how they answered a need in an enormous growing market with a well-differentiated solution. We quickly decided to invest, putting in $350K and were happy to increase that to $500K a few months later.
George DeCarlo, a longtime OVF member, has been more than an investor to Colin and Customer.io. A serial entrepreneur himself, he runs his own successful online marketing company, making him perfect for giving Colin the strategic advice on how to best drive toward achieving their near-term goals. For now, that’s hiring key people and accelerating growth.
After just over a year’s work with OVF, Customer.io continues to enjoy self-sustaining growth, an enormously rare achievement that puts Colin in the driver’s seat for raising the next round of capital—and moving one step closer to hyper-growth mode.
Advice from Customer.io Founder & CEO, Colin Nederkoorn
“The two most important things to know are: What is the big idea you’re shooting for? And what’s the smallest next thing you can do to move towards it? Our first goal was to build a product good enough to convince five companies to pay $10 a month. Since then, we’ve kept increasing how ambitious our goals are, as our confidence and capabilities grow.”