I am excited to announce that we have closed a $25 million Series C round of financing. The round was led by new investor Next World Capital with participation by DAG Ventures, as well as existing investors Accel Partners, Icon Ventures and Lightspeed Ventures. This round brings our total funding to date to just shy of $50 million. It will allow us to further scale Origami to capture the significant market demand for our Marketing Signal Measurement platform. While our journey is not complete by any stretch of the imagination, I want to use this event as an opportunity to take a step back and appreciate what’s happening here at Origami Logic.
This is the third company I have started. Each one has had some common experiences, but more importantly to me is how each company develops its unique personality. That is what makes each of these journeys exciting and memorable. From my experiences, I have found that the uniqueness of a startup — and the journey taken — is driven by three important factors:
- Vision – This is the ultimate destination for the journey
- Market – This defines the region that will be explored during the journey
- Team – This is the travel partners for the journey
In this post, I will touch base on each of these factors to provide an understanding of the Origami Logic journey thus far.
It all starts with the vision. When my co-founders Ofer Shaked and Alon Amit and I started Origami Logic, we wanted to build a company to solve a critical problem we could be equally passionate about and uniquely positioned to solve in an innovative way – Ultimately pioneering a new market category.
Hence we set our minds on building something that would help solve marketing’s biggest problem – the inability to answer the deceptively simple question of “What happened today”. We wanted to empower marketers to utilize data like they have never done before, so that they could confidently answer for the first time this question of “What happened today” and therefore be significantly more effective at what they do.
Having a vision, for both the company and the product, is great but it just defines the destination. A roadmap needs to be put into place to figure out how we get there. From a product perspective, we initially focused on providing a visualization layer that marketers could use to access and analyze data. That capability is still very important but over the past eighteen months, since we initially launched our offering and as we have worked with many of the top brands in the world, we have learned that the biggest challenge marketers face in answering the “What happened today” question, is harvesting and converting the massive amounts of “marketing signals” around them into actionable business insights – which is a really, really difficult problem to solve. We also quickly realized that no off-the-shelf solutions existed for this problem and that none of the traditional, relational enterprise data processing technologies were relevant building blocks. This learning spurred us to devote some of the best product & engineering minds in industry to build out a series of deep “under the hood” capabilities that resulted in the Marketing Signals Measurement Platform that we announced earlier this month.
Having a vision and a general sense of product direction is a good start but a key step in the journey is deciding what target market to go after. We’ve always been drawn in our nature to solving extremely difficult yet high value problems – Hence we’ve decided early on to focus on the largest brands in the world as we felt they had the most pain and complexity and therefore the most to gain from real time visibility into their marketing performance. Some people thought we were crazy to take this approach, particularly in this day-and-age when startups typically begin by targeting smaller businesses.
The decision to go after large accounts obviously drove many different aspects of how we built our business – the product we developed, our sales and marketing strategy and team, the manner in which we support our customers, etc. From the early days of our journey when we decided on our target market, we have remained focused on it and have not been distracted by other potential opportunities. I believe that our focus is one of the key reasons why we have the pleasure of being able to call world-class brands — like Visa, Cisco, Intel, JCPenney, Omni Hotels and Pernod Ricard — our customers.
While executing on a vision, building product, and working with customers is all very satisfying, the most important part of any journey for me is picking the people I want to travel with. One of the benefits of starting companies before is having a better perspective of the type of culture we wanted to have at Origami Logic and the type of people we wanted to hire. I truly believe that our success so far is because of our people. We have an amazing team of people that are very good at what they do, they are committed to doing what’s best for our customers, and they don’t let their ego get in the way of doing what’s right. We love what we do and we do what we love – a highly focused passion which shows every day in anything we do internally and with our customers. And, by having a team of people that have similar principles, we have an environment that everybody enjoys being a part of (…including our customers and partners!). As one of our consultants has told me, it’s kind of scary to see how much people at Origami Logic enjoy being around each other. This is something I am very proud of.
It goes without saying, that no startup can be successful without having great investors as a part of the team. I feel fortunate and am appreciative of the trust and support our investors have given us and I’m excited to have Next World Capital and DAG Ventures join the extended Origami Logic family 🙂
In closing, I would like to thank everybody who has been a part of the journey thus far — customers, partners, employees, investors. It has been a great trip so far and I look forward to spending many more miles together in the future.