Explore

Nurturev one - pager for Xeed Ventures

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.

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[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

Sayanta Ghosh -

https://www.linkedin.com/in/sayantaghosh/⁠

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Rajat Jain -

https://www.linkedin.com/in/rajat-jain-62814516/⁠

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Nikhil Ojha -

https://www.linkedin.com/in/nikhil-ojha-a493a831/⁠

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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.

Dimensions

Competition

What they do?

How are they different?

Whitespace Analysis

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Demandfarm

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Arpedio

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This category of tools uses only data from CRMs to identify all possible geographies, business units, product lines, etc., where whitespaces are present. They also track if there are any relevant opportunities being created for the whitespaces and provide a leadership level view of how the whitespace landscape is progressing for different key accounts.

key account management expansion

Such tools help in visualising farming opportunities and tracking them, but not in generating any.

[This is already built on Nurturev]

3rd-party Signals

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Sixsense

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Demandbase

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New-age tools:

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This segment of tools collects 3rd party information about prospects like what they are searching for, news and announcements about companies, technographic information etc. New-age tools are more targeted towards sales and scaling up prospecting activities by personalised campaigns based on account insights.

presales focus campaign automation

The focus of such tools are more on pre-sales end and hence the offerings centre around auto-personalised campaigns for a large pipeline.

[This is already built on Nurturev]

People Intelligence

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People.ai

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Connect the dots

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ZoomInfo

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This category of tools especially focus on firmographic insights about accounts. This is a category where org-charts and key buying persona identification becomes very important.

Additionally,

people.ai

⁠

is also suggestive in terms of personas that should be involved in deals

Connect the dots focuses on getting warm introductions to relevant stakeholders

org chart key stakeholder mapping

This is an essential part of our roadmap. In complex B2B farming processes, where multi-threading becomes important, key stakeholder identification and relationship strength tracking becomes essential.

In the post-GPT era, however, this has become a lot easier to tap and there are even specific vendors that supply org-charts out-of-the-box.

Account Planning

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Quip

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New-age tools:

Prolifiq

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NextQuarter

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Account planning is primarily used in enterprise sales and involves collaboration with different stakeholders to document and plan the actions for an account. Primarily used for expansion planning, noting which departments, business units or stakeholders are to be involved for expansions. Quip, one of the old school players enabled collaboration within Salesforce. New age tools like prolifiq or Nextquarter bring in some 3rd party information into the account planning like stakeholder mapping or sales collaterals that are relevant.

These are collaborative tools embedded within CRMs. It is an essential part of our roadmap. 👉 The key problem with account planning tools is the adoption and retention of sales reps. Nurturev will be able to add continuous 3rd party insights that point out key signals in accounts at the right time. This would allow leadership and on-field teams to make the most by collaborating and planning the expansion roadmap of an account.

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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

GetLatka⁠

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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, Sai Kumar Chandran, 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.

Customer Stories

MindTickle

Customer

$10,000

View Details

Ann Neir - VP of Revops

Pranav Indi - Revops Manager

Spotdraft

Customer

$6,000

View Details

Mohammed Moiz - VP of Customer Success

Debasish Pattanaik - Dir. of Revops

Capillary

In Negotiations

$20,000 - $30,000

View Details

Siddhant Jain - VP of Customer Success

Suraj S - Dir. of Revops

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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.

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Customer Pipeline

Customer Pipeline

POC started

POC completed

Vendor of choice

Negotiation

Closed Won/Paid Trial

Innovacer

Industry

Healthcare SaaS

Started on

May

Docsumo

Industry

Finance SaaS

Started on

May

VWO

Industry

Saas

Started on

June

Sigmoid

Industry

IT Services | Data Solutions

Started on

June

Whatfix

Industry

SaaS

Started on

April

Netcore

Industry

SaaS

Started on

April

Anvilogic

Industry

Cybersecurity

Started on

May

Planful

Industry

Saas

Started on

June

Automation Edge

Industry

RPA SaaS

Started on

April

Amount

$10,000.00

Highradius

Industry

Finace SaaS

Started on

May

Pazcare

Industry

Insurance SaaS

Started on

May

Tudip Technologies

Industry

IT Service | Software Engineering

Started on

June

Dynpro

Industry

IT Service | Software Engineering

Started on

May

Murf.ai

Industry

Saas

Started on

June

Itilite

Industry

Saas

Started on

June

Oloid

Industry

Saas + Hardware

Started on

July

Capillary

Industry

Service

Amount

$4,000.00

Spendflo

Industry

Saas

Amount

$3,000.00

Zluri

Industry

Saas

Amount

$2,000.00

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US GTM Initiatives

Conversations in the US

Conversations in the US

Name

Industry

Reachout Medium

Participants

Comments

Ring Central

Cloud Business Communications

Cold Email and Calls

Thomas Van De Bogart (RVP - Mid-market Expansions)

We spoke with the expansions team specific for their mid-market portfolio. They are currently using a custom-made solution for this prepared for them by BCG. The have paid multi-million dollars for the solution every year for the past 5 years. They are yet looking out for more cutting edge solutions, problem with current dashboard is the sparseness of data.

HighRadius

Fintech Saas

Warm (from Alumni network)

Arpit Rungta (GTM Strategy) and Jared Lane (SVP, Global Sales)

HighRadius is currently ramping up their account management team for farming. They have been considering DataBook but due to some re-structuring in the Org. Interested in making the expansion motion more predictable.

Sirion Labs

Legal Tech

Warm (from Alumni network)

Nick Salas (Revenue Enablement Leader), Gordon Thompson (EVP pre-sales and Business Strategy)

Recently in their board meeting there was a demand for reporting whitespace based expansion pipeline. Currently due to quarter closure, there is a lull in the conversation, however we have had more than 3 conversations with the ideal stakeholders.

Tudip technologies

IT Services

Cold Email and Calls

Sonal Agrawal (Sales head of Americas)

Agreed to paid trial. They were pleasantly surprised with how accurately Nurturev was able to highlight the key-stakeholders and the customer needs.

Anvilogic

Cybersecurity

Warm (from Alumni network)

Deb Banerjee (Co-Founder)

Had a couple of conversations. Anvilogic has high complexity in their Sales motion and their motion is completely land-and-expand driven. We got a learning that CyberSecurity companies almost always has complex sales and there are multiple offerings and use-cases.

Dynpro

IT Services

Cold Email and Calls

Working with CRO and the team to help them in discovering opportunities in large accounts like Cisco

Planful

Cold Email and Calls

Kinjal Patel (VP of Account Management)

Kinjal has recently shifted to a new role of Account Management and he wants to solve for Whitespaces and Expansions. He liked our product and wants to continue conversations post this quarter. Had next meeting scheduled in 1st week of July

UVT

Hardware Services

Cold Email and Calls

Matt Rybar and Andrew McKinney ( VP os Sales)

They currently use ZoomInfo, however there is a clear challenge in terms of the intelligence they are using in their sales. They have an aspiration to become more data-driven in their sales process.

Onix

Cold Email and Calls

Vishal Chandra (Director of Strategic Partnerships and Key Accounts)

Redcloud

Cold Email and Calls

Steve Hutt (VP of Revenue Enablement)

Mix of small and large customers. Interested to use Nurturev for expansions in large conglomerates with multiple sub-entities.

CapillaryTech (US wing)

Martech Saas

Warm (from Alumni network)

We have a call to be scheduled with the Account Management team in the US. After 2 acquisitions in the US they have separate revenue operations in the US. Siddhant is connecting us with the strategy lead in the recently acquired team. The US team has a portfolio of ~$35 M.

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Discovery Calls

Discovery Calls

First Name

Last Name

Linkedin Profile

Title

Organization

Chris

Stratton

VP of Sales

Paylocity

Raul

Perdigão

VP of Sales

CoreMedia

Taylor

Jones

VP of Sales

CoLab Software

Wendy

Zingher

VP of Customer Success

LambdaTest

Mark

Stagi

VP of Customer Success

Avoma

Willem

Hendrickx

Chief Revenue Officer

Vectra AI

Jessica (Jess)

Vice President of Customer Success

Everlaw

Ross

Shanken

Vice President of Sales

Multiplier

Kevin

Bognar

SVP of Sales

Outreach

Tony

Colon

SVP, Customer Success

ServiceNow

Tushar

Bansal

SVP, Customer Success

Contentsquare

Maayan

Arbili

VP Global Customer Success

Aqua Security

Ayush

Sharma

Director - Sales

Rippling

Kinjal

Patel, CPA, CMA

Vice President of Account Management

Planful

Trevor

Peters

Vice President of Account Management

Kaseya

John

Hultman

Chief Revenue Officer (CRO)

Druva

Jeff

Perry

Chief Revenue Officer (CRO)

Carta

Ron

Richardson

Chief Revenue Officer (CRO)

FourKites, Inc.

Stevie

Case

Chief Revenue Officer (CRO)

Vanta

Yash

Reddy

Chief Revenue Officer (CRO)

MoEngage

Joe

Massa

Chief Revenue Officer (CRO)

Rootstock Software

Javier

Molina

Chief Revenue Officer (CRO)

Docker, Inc

Murali Krishna

Kantipudi

Vice President Sales

LeadSquared

Cameron

Essalat

Vice President of Sales and Customer Success

Oloid

Harsh

Banger

Head of Customer Success

Leena AI

Julian

Alvarez

VP of Sales Development

Gong

Daphne

Costa Lopes

Director, Customer Success

HubSpot

Steve

Gordon

Senior Vice President of Sales

Impact Analytics

Eran

Gross

Vice President of Customer Success America

DealHub.io

Raj

Ramarao

Senior Director, Customer Success

Cisco

Ben

Zuehlsdorf

Director of Enterprise Customer Success

1Password

Nipun

Mohanty

VP of Customer Success & Professional Services

Seclore

Pradeep

Kumar

SVP Services and Customer Success

UiPath

Matthew D.

Smith

Account Director, Named Enterprise

Snyk

Ruchika

Chopra

Vice President, Sales Operations

Illumio

Kyle

Asay

VP, Global Growth Sales

LaunchDarkly

William

Werhane

Vice President, Global Account Management

Culture Amp

Ron

Jethani

Sr. Director - Account Management

Hevo Data

Kevin

Bognar

SVP of Sales

Outreach

Silas

Simon

VP of Sales - Key Accounts

Druva

Rathna

kumar

Director of Customer Success & Account Management

Murf AI

Priyank

Desai

Principal Account Manager

Amazon Web Services (AWS)

Pradeep

Sridar

Director of Global Revenue Operations

Multiplier

Soumabrata

Chatterjee

Head of Customer Success and Account Management

Springworks

Debasish

Pattanaik

Director of Revenue Operations

SpotDraft

Vinod Kumar

Nagarajan

Senior Director of Revenue Operations

Amagi Corporation

Nidhish

Patni

Head of Revenue Operations

Whatfix

Navin

Madhavan

VP, Revenue Operations

Amagi Corporation

David

Goodmark

VP Sales - Americas

Wiz

Anuj

Saxena

Global VP of Sales & Strategic Accounts

HighRadius

Rajath

Associate Director - Revenue Operations

Whatfix

Marco

Meisert

Vice President, Sales - APAC

Jitterbit

Nikhil

Sawhney

Vice President Strategic Accounts

Newgen Software

Aamer

Jomaa

Director of Account Management

LeanData

Imran

Musaev

Vice President, GTM Operations

Responsive

Fern

Hernandez

Senior Director, Marketing Operations

The Arbinger Institute

Paul

Neuman

Director of ABX Sales Development

The Arbinger Institute

Lisa

Sharapata

Chief Marketing Officer (CMO)

The Arbinger Institute

Imran

Musaev

Vice President, GTM Operations

Responsive

Tony

Germinario

RVP Enterprise Accounts

Responsive

Justin

Breitfelder, CPBI

Director of Sales - Enterprise

Docker, Inc

🐙 Jackie

Smith Norton

Senior Director of Customer Success

Spekit 🐙

Jesse

Russell

Regional Head | Americas

Whatfix

Adhithya

Radhakrishnan

Strategy and Operations

Postman

James

Hill

Senior VP, Sales

Anvilogic

Thomas

Vandebogart

RVP, Mid Market Expansion

RingCentral

Cameron

Shahabedin

Head of New Business Sales

Carta

Nick

Salas

Senior Director, Global Revenue Enablement

Sirion Labs

Sumeet

Kumar

Global Head, Enterprise Sales Account Management

Whatfix

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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

Cap Table

Cap Table

Share Holder

Share Holding (%)

RADUP CON LLP (Rajat)

24.30%

SAPUP CON LLP (Sayanta)

25.04%

LEGCON CONSULTANCY LLP (Nikhil)

24.30%

Antler

5.56%

Sparrow Capital II

3.33%

Ashish Gupta

0.88%

QED Innovation Labs LLP

0.58%

Fund 1, a series of GTM Ventures, LP By: Fund GP, LLC its General Partner By: Belltower Fund Group, Ltd. Manager of the General Partner

0.70%

AL Trust

1.71%

3F Venture Partners II

1.32%

Deepak Diwakar

0.02%

Ankur Verma

0.18%

Nishant Mungali

0.09%

Somya Ajmera

0.09%

Abhimanyu Dhamija

0.09%

Abhishek Anand

0.09%

Shrey Ajmera

0.18%

Rachna Jain

0.18%

Narendra Rathi

0.18%

Sarthak Mishra

0.18%

Suvikas Bhandari

0.11%

Richie Khandelwal

0.18%

Supreeth Rao

0.18%

Haren Chelle

0.05%

ESOP

10.50%

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Fund Allocations

Fund Allocations

Department

Allocation (%)

Details and Reason

Product Development

40%

Critical to ensure that we continuously build a robust and deep solution that solves more needs of account managers (dynamic account plans, relationship maps, etc.) and automates CRM workflows. This also included the budget for data providers, vendors and AI partners that contribute to the raw data and the processing costs. The business outcome from this spend being: - Increase ticket size - Drive faster sales cycles via Product led Sales.

Sales and Marketing

35%

This is the allocation towards building a predictable sales engine in focused ICPs. Includes cost for BDRs and Sales, and also includes all expenses like attending industry specific events, campaigns and PR, distribution of the PLS offering, etc. The business outcome of this spend being: - Increased TOFU to BOFU conversions and pipeline (Overall ARR) - Increased awareness in the market

Customer Success and Support

10%

Key customer onboarding and implementation is included in the cost. Solutionising and solving the needs of initial customers is critical and will lead to a more mature offering. The business outcomes of this spend being: - Reduced churn, and facilitate upselling and cross-selling opportunities. - Product maturity and increased self-serve capabilities

Operations

Covers day-to-day operational expenses, including office space, utilities, and administrative support.

Legal, Compliance and Finance

Includes cost for legal in company restructuring/round-closure, compliance and finance needs like AP, AR, etc.

Miscellaneous

Buffer for unexpected expenses or opportunities that may arise during the year.

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