In this special edition, we’ll share our bite-size investment memo on a company we have previously featured that just made its first fundraising announcement.
Dopt (previously known as Switchboard) was previously featured in our 33rd edition (July 23rd)
Joining this round including Ian Taylor (Co-founder, Segment), Curtis Liu (Co-founder and CTO, Amplitude), Lauryn Isford (Head of growth, Airtable), Wendy Lu (Head of growth engineering, Airtable), Hubert Palan (CEO, Productboard), Jesse Miller (Head of growth, Postman), Andrew Miklas (Co-founder, PagerDuty), and more.
Below are some of the reasons why we’re interested in what they are building and why we believe they could go big 🚀
Experience founders with vast experience in product-led companies.
Alon, Phil, and Joe were the perfect founders to solve this problem. Having led product, engineering and growth design at companies like Dropbox, Amplitude, Productboard, Trifacta and Patreon, they have lived and solved this challenge in many forms; behavioral targeting, user activation, retention, upsell/cross-sell, subscription, messaging, and internal tools experiences.
PLG companies dominate the Forbes Cloud 100 list
Huge market - Over 65–70% of the Cloud 100 companies this year were PLG companies! However, this increase from 30 to 35 percent in the initial list from 2016 is expected. In just five years, PLG companies have increased their public market worth from $21 billion to $687 billion.
Troublesome in building the core experience of self-serve; Onboarding
There is much more to being "product-led" than simply adding a self-serve signup flow to the product. The entire business must be particularly focused on the entire process that people go through to obtain value, and, crucially, the product itself must assume responsibility for establishing that connection. However, so many onboarding and engagement flows in the world use the same cookie-cutter approach.