Read the Full Case Study (PDF)
Excerpt:
Description
Frustrated with cold calling? If you spend too much time getting nowhere with a list of cold email addresses, you’re amongst hundreds of thousands of other salespeople. Bubba Page, founder of QuotaDeck, is trying to build a technology solution to kill the cold call in the B2B marketplace. Once a salesperson enters information about their ideal client, QuotaDeck’s algorithm searches for contacts that match those requirements. When a match is found, a QuotaDeck community member connected to that lead is asked if they can make an introduction on behalf of the salesperson.
Early Success
Bubba came up with the original idea for QuotaDeck at a Startup Weekend event in Salt Lake City (SLC). Quickly thereafter he landed a seed round of $450K in investment. Next, he was accepted and participated in the #1 seed stage business accelerator: Techstars Boulder’s 2014 class. With momentum from the experience in Colorado, Bubba and his Head of Technology, Cache Merrill, launched a full-force campaign to raise a follow-on round.
The Product Wasn’t Read
At the end of Techstars, QuotaDeck was only a partial implementation of the minimal viable product; the functionality needed to facilitate a warm introduction was only a proof of concept. The team had a huge amount of feedback from the accelerator experience, and needed to build an MVP that could:
- Meet aggressive financial goals, month-over-month, for the first quarter of 2015.
- Demonstrate to investors that users will make warm introductions on behalf of other salespeople.