Why now?
In any B2B business cost of new customer acquisition has sky-rocketed in the last couple of years because of a number of fundamental changes in the market.
Cost saving mandates in all organisations Intense competition, especially in the software and services market Thus there is an evident and necessary shift in focus towards acquiring new revenue from existing customers. This includes upsells and cross-sells
In the past 2 years, this shift is corroborated by the fact that there are specialised “farming” sales teams propping up in a majority of mature organisations. In fact a typical land and expand motion in a upper mid-market or enterprise account sees 10x more revenue from expansions as compared to the landing ACV.
In the status quo, however, the expansion motion is still driven by organic information collected by account managers and thus there is limited visibility and predictability for leadership. Although there are expansion targets, the expansion plans and roadmaps are not data-backed and relies on a spray-and-pray practice.
Nurturev helps B2B companies predictably increase their expansion pipeline and help in converting these opportunities by equipping the farming sales teams with the information about the needs and priorities of their customers at any point in time. As farming revenue becomes absolutely critical in the B2B space, it not only contributes to the increase in top-line directly, but to the most efficient and sizeable source to growth.
[In this image each row represents an account of our customer. The columns to the right represent the different offerings of a customer and the green cells are where there are signals for cross-sell and upsell]
Pricing Discovery
Saas pricing is in most cases based on the dollar value benefitted by the customer. Since Nurturev creates expansion pipeline for organisations, it is easy to measure the outcome. Additionally drawing parallel from the marketing tech vertical that create new logo pipeline for organisations, companies like 6sense and Demandbase typically price themselves based on a 100:1 of the dollar value of pipeline created. That is if they can create upto $100M marketing pipeline, the cost they charge to their customers is $100k (benefit to the customer being $1M). The logic being 1% conversion from the marketing leads is standard and charging 1:10 for ROI from a Saas is also standard.
In the case of Nurturev, the pipeline created can be estimated conservatively with a proxy of expansion targets of organisations. A company at around 50M in ARR will have targets to grow by 50% YoY and more than 50% of the growth at this stage will be targeted from expansions (companies like Salesforce and Snowflake have more than 85% of their growth contributed by upsells and cross-sells). Thus $12.5M will be the target from expansions and thus Nurturev can be priced at $125k for a customer at $50M ARR.
Currently we are at early stages of pricing discovery, however for a customer like Capillary the potential ACV is ~$30k.
Success Metrics for our Customers
The revenue acquired from the opportunities created by Nurturev is the ultimate success metric for our customers.
ICP and the Buying Persona
Any B2B organizations that have a considerable sales pipeline in the mid-market/enterprise segment and have 10M+ ARR falls in our ICP.
The economic buyer for Nurturev is the CRO, the admin who configures the tool is Revops and the users are account managers (in some cases CSMs as well)
Revenue Funnel
Currently we have 5 paying customers contributing to 33k in revenue (sales started in January with the first contract closing on 20th of Jan)
There are 18 accounts in the POC and evaluation phase.
Since there are few accounts that we have been able to mark as “closed lost”, the exact loss rates (or conversion rates) from the POC stage is difficult to measure. However, we estimate that there is a 30-50% conversion rate from the POC stage.
The sales cycle currently ranges from around 30 to 45 days for a ~10k contract. In larger accounts, however we expect both the sales cycle as well as the contract sizes will be more (expected 45-60 days for a ~30k contract). Since we are currently building out the product while serving our customers, currently the implementation cycle is as long as 1.5-2 months, however the goal is to drive this down to 2 weeks.
Team Size and Founder profiles
We currently have a 13 member team.
Founder profiles
Apart from the 3 founders there are 2 in Sales + Demand Generation, 4 Engineers, 2 Data Science, 2 Product + Design, 1 QA
Competitive Landscape
Tapping expansion opportunities in existing accounts has a number of dimensions in terms of problems that need to be solved to effective plan out an expansion roadmap. The competitive landscape is thus segmented in these dimensions. The following table highlights the different dimensions and the existing players.
DeepDive on 2 close competitors
Our closest competitors in terms of value propositions are DemandFarm and NextQuarter. A deepdive on the 2 competitors are the following:
Key pointers about DemandFarm:
Visualise whitespaces within Salesforce for expansion opportunities (no intelligence, just visualization) Track relationship health across deals (directly from Salesforce activities) and include playbooks based on conditions Slow growth till 2020 but since then they have grown 50%+ YoY and currently at ~2.5 M ARR according to Key Pointers about Orbitshift:
Relies on job openings to extract the needs expressed by accounts - 85%-95% opportunities are created from this [according to ex-employee]. Other sources of data just include news and linkedin announcements. Sell to only service companies like Infosys and HCL. Very high ticket size of $200k+. Founder, Saurabh Mishra, has a network in service companies. They don’t specifically sell for post-sales but rather account planning for pre-sales Currently at ~$700k ARR, started in 2022. Raised $7M in 2024 from Stellaris and Peak XV. Customer Stories
Near Future Roadmap
Today 3rd party insights are a wedge for Nurturev to enter the market by identifying opportunities and whitespaces for customers to leverage and tap expansion opportunities. However in the near future our goal would be to able to not just create new opportunities but also help in methodically driving and closing those opportunities. The following are conceptually the areas in which we will invest to get to this point.
People intelligence - Finding the key personas and multi-threading with these stakeholders are a common threshold to navigating and closing deals.
Nurturev would be able to track the key personas, new hires in these roles and departures, all mapped to the hierarchy and reporting orders. Additionally, we are also building a module that would identify if it is possible to get a warm introduction from leadership, advisors, investors, etc. Actionable account plans - While there are continuous updates on the account plans based on 3rd party insights we are building a collaborative space that also incorporates account intelligence from past deals (both won and closed) to start suggesting the next best actions based on the stage of the deal.
For example: while a cross-sell is being pursued, if there is a competitor is detected, the account plan can automatically equip the relevant stakeholders with competitive content and playbooks and highlight the deals that were won in similar accounts against that competitor. Smart pushes - The problem with current account planning tools are that they aren’t able to personalise the platform to provide the most important and actionable data to the right stakeholders.
We aim to double down on our existing Slack bot to deliver the most actionable insights regarding key insights that would help drive expansions. Users should be able to ask the bot about any information or insights they need as well. The product vision in the coming year would be to not only highlight and prioritise the opportunities but also to win those opportunities:
Account strategy and planning: Who are the right stakeholders within complex org charts, LOBs and sub-entities that will be the decision makers for the sell Suggestions to involve the right stakeholders based on the stage of the deal and prompts to keep them warm Best practices based on previous similar deals, suggested collaterals and content based on the context of the deal Forecasting and strategising the expansion motion: Track and forecast revenue based on the expansion funnel Identify blockers, competitors, detractors, etc. for pipeline review Facilitating deals with the help of playbooks, involvement of executive sponsors and strategic warm introductions Frequency and dependency of users on Nurturev
The value of Nurturev primarily lies in pointing out time-sensitive key signals in the sellers’ portfolio accounts that can help create new deals or help in the progress of existing ones. The signals are time sensitive since the sellers needs to meet the buyer when their needs are maximum and they are in the buying cycle.
Nurturev’s signals a fairly dynamic that changes at least once in a week. Based on the activity and usage of sellers, managers and even leadership we are building intelligent Slack notifications that can point out the most important signals at the time that they require maximum attention. Down the line, with more intelligence regarding the sellers’ meetings with customers, notes, emails, etc., the notifications can become even more actionable and real-time.
Bottom Up Market-sizing
The target persona for Nurturev are (Key/Strategic) Account Managers. The overall number of organisations that have account management teams are too high to target initially, while the solution is applicable to any B2B business including the likes of Oil and Gas, Manufacturing, BFSI and others. However the fact that Account Management teams are present in any B2B organisation automatically qualifies that account as an ICP since the key initiative for this persona is to chase expansions (upsells and cross-sells) in existing accounts.
Considering only “Information Technology and Services”, “Computer Software” and “Internet” and filtering out “B2B” companies, the number of ICP companies are in the range of ~16,000.
US GTM Initiatives
In the last 2 months, we have heavily invested in GTM mediums to get more conversations in the US. The following are the different mediums we are pursuing and a commentary on the progress.
Cold Outreach
We are reaching out based on the signals gathered by Nurturev’s own product. We are experimenting with very pointed messaging in cold emails and Linkedin DMs, cold calls, as well as campaigns.
The best source so far has been Linkedin and while cold calls have been effective one of the major challenge is the difference in time zone. The most effective hour for cold calls is second half US time and that is the 2-5 AM window in IST.
Additionally, we are focusing on some industries like CyberSecurity cloud offerings which is a competitive space, includes complex sales, as well as has a land-and-expand motion. Going forward, for such pointed GTM we plan on being part of such industry specific events and conferences.
Advocates from the Industry
One challenge that we have faced in our GTM has been a lack of confidence to pay upfront for the signals and insights that they haven’t tested first-hand. In the early stages, to evangelise the effectiveness of the insights we have taken 2 measures, the first being the build the product such that the initial value can be observed for free, and secondly, the initiative of creating influential advocates for Nurturev.
There are 2 types of influencers we are looking to target very specifically:
Experienced account managers (10+ years) who are active in communities and Linkedin Authors of Account Management related popular newsletters Founders or GMs of Sales Agencies - these guys, generally, have a very diverse reach in different enterprises RevOps specific evangelists like Ann Warm introductions
We are heavily leveraging the following kinds of networks for warm introduction in US based companies
College Alumni networks - especially of IIT Kgp (HighRadius, CapillaryTech and Innovaccer), IIT Delhi (Anvilogic). We are also sourcing some leads like Gupshup and Sirion Labs from 1st degree connections in IIT B. MindTickle sales networks: There are some influencial sales people we were in touch with since MindTickle days and some who are currently using the tool, all of whom are in the US. We are connecting with them 1:1 to get some introductions to their peers