Boston, MA (PRWEB) September 26, 2013
OpenView Venture Partners, an expansion-stage venture capital firm focused on providing technology companies with deep operational support, published a case study today detailing how it helped cloud backup and recovery company Intronis sharpen its market focus.
In late 2012, the company was targeting the massive market of managed service providers (MSPs), but lacked the strategy and focus necessary to go after that market as efficiently as they wanted to. By targeting a market that was too broad, it was hard for Intronis to acquire the right kinds of customers. As a result, the company was actually impeding its ability to fuel sustainable growth.
To improve its market focus, the company would have had to dedicate significant resources to conduct a comprehensive segmentation and go-to-market overhaul, something it wasn’t prepared to do on its own. That’s when Intronis CEO Rick Faulk turned to OpenView Venture Partners, the VC that had led the company’s Series A Round in 2007 and made a follow-on investment in the company’s B Round in 2012.
In early 2013, OpenView worked with Intronis on several initatives to help the company establish a clear market definition, achieve great go-to-market strategy focus, and create a strategy for tracking, measuring, and leveraging the right metrics.
“From a resource perspective, the expertise and breadth of knowledge that OpenView’s Labs team brought to the table was outstanding,” said Faulk. “But it was more than just their expertise that impressed me. It was expertise in context. Their team of operational consultants’ knowledge relative to our unique stage was incredible. From day one, I had the utmost confidence that they would be able to work with us to quickly address our market challenges.”
As a result of this collaboration, today Intronis has a much clearer understanding of where, why, when, and how to go after its target market. In less than a year, the company’s average sales price increased by 185 percent, its win rate improved by nearly 20 percent, and its sales cycle dropped from 32 days to 24 days.
To learn more about OpenView’s engagement with Intronis and the value add services the firm provided, download a free copy of OpenView’s latest case study, “The Quest for Market Clarity.”
About OpenView Venture Partners
OpenView Venture Partners is an expansion-stage venture capital fund based in Boston that is focused on high-growth software, Internet, and technology-enabled companies. Through its staff of seasoned operating executives, who collectively bring several decades of technology and management experience to the firm, OpenView is able to help portfolio companies quickly optimize their product, go-to-market, and organizational and operational functions. Founded in 2006, the firm invests globally and has approximately $445 million in total capital under management.