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Extra Crunch roundup: Adtech investing, Intuit buys Mailchimp, ideal customer profiles
Major gains in online advertising have boosted valuations for adtech startups since the pandemic began, but one insider says investors are missing the party.
“Adtech is having a moment,” writes industry veteran Casey Saran.
“And while much of the oxygen has been soaked up by large legacy companies hitting the public market, there have been smaller deals that indicate a hunger for better creative adtech.”
Saran shares five reasons “why VCs should consider ratcheting up their investment into adtech startups building the next generation of creative tools.”
Full Extra Crunch articles are only available to members
Use discount code ECFriday to save 20% off a one- or two-year subscription
On Wednesday, September 22 at 9:05 a.m PT, I’m moderating “The Path for Underrepresented Entrepreneurs,” a panel discussion at Disrupt 2021.
Our conversation will examine some of the unique challenges facing founders from historically marginalized groups, the strategies they used along the way, and the disruptive changes we need to consider if we want to see fundamental change.
I’ll be speaking with:
- Hana Mohan, founder & CEO, MagicBell
- Leslie Feinzaig, founder & CEO, Female Founders Alliance
- Stephen Bailey, co-founder & CEO, ExecOnline
I hope you’ll attend; we’ll take audience questions after our discussion concludes. Thanks very much for reading Extra Crunch this week, and have a great weekend.
Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist
5 things you need to win your first customer
Image Credits: AndrewLilley (opens in a new window) / Getty Images
Congratulations on shipping your product, but how much do you know about your target customers?
Companies that haven’t created an ideal customer profile and performed a SWOT analysis are making big bets on guesswork and intuition. Sometimes that works out, but more frequently, it leads to tears.
In a guest post that walks readers through the fundamentals of creating customer personas that map to your company’s goals, Grammarly product marketing lead Bryan Dsouza shares five basic requirements for customer acquisition.
“Understanding and executing on these things can guarantee you that first customer win, provided you do them well and with sincerity,” he says.
“Your investors will also see the fruits of your labor and be comforted knowing their dollars are at good work.”
4 ways to leverage ROAS to triple lead generation
Image Credits: joshblake (opens in a new window) / Getty Images
In school, it’s highly unethical to copy someone else’s work and pass it off as your own. In business, however, it is expected.
Xiaoyun TU, global director of demand generation at Brightpearl, wrote a comprehensive guide for how to use the key metric of return on advertising spend (ROAS) to triple your company’s lead generation.
“A ‘good’ ROAS score is different for each company and campaign,” she says. “If your figure isn’t where you’d like it to be, you can leverage ROAS data to create targeted campaigns and personalized experiences.”
3 strategies to make adopting new HR tech easier for hiring managers
Image Credits: porcorex (opens in a new window) / Getty Images
Most of us prefer to trust our instincts instead of letting automated tools help us make decisions, particularly when it comes to hiring. But that’s not smart.
If your startup relies on an ad hoc hiring process, you’re probably not tracking candidates properly, there’s likely little consistency regarding how they’re treated, and bias can play a major role in who gets hired.
It’s fine to be skeptical of automated hiring tools — but not ignorant.
What could stop the startup boom?
Image Credits: Nigel Sussman (opens in a new window)
In yesterday’s edition of The Exchange, Anna Heim and Alex Wilhelm speculated about the conditions that could combine to cool off a hot startup market currently fueled by low interest rates and a sweeping digital transformation.
“From where we stand, the factors underpinning the startup fundraising boom appear solid and unlikely to unwind overnight. Still, no golden period shines forever, and even today’s luster will eventually tarnish.”
Intuit’s $12B Mailchimp acquisition is about expanding its small business focus
Image Credits: Smith Collection/Gado / Getty Images
Before news broke this week that Intuit was acquiring Mailchimp for $12 billion, the ’80s-born fintech giant’s biggest buy was spending $7.1 billion last year for Credit Karma.
In the last few years, Mailchimp “has been expanding upon its core email marketing functionality” with offerings like web design and CRM, writes enterprise reporter Ron Miller.
The industry watchers he interviewed said the move signals Intuit’s interest in acquiring and serving more SMB customers with a variety of tools:
- Laurie McCabe, co-founder and partner, SMB Group
- Brent Leary, founder and principal analyst, CRM Essentials
- Holger Mueller, analyst, Constellation Research
Forge’s SPAC deal is a bet on unicorn illiquidity
Image Credits: Nigel Sussman (opens in a new window)
“One of my favorite long-term issues with the late-stage startup market is that it is far better at creating value than it is at finding an exit point for that accreted value,” Alex Wilhelm writes for The Exchange. “More simply, the startup market is excellent at creating unicorns but somewhat poor at taking them public.”
That’s good news for Forge Global, a technology startup that operates a market for secondary transactions in private companies, with Alex dubbing its plans to go public via a SPAC combination “perfectly reasonable.”
Dear Sophie: Should I apply for citizenship if I have a conviction?
Image Credits: Bryce Durbin/TechCrunch
Dear Sophie,
At Burning Man a few years ago, I was arrested and charged with a misdemeanor for smoking marijuana in public (in my car) and driving under the influence.
I currently have a green card and want to apply for U.S. citizenship next year.
Can I? If so, how should I handle my criminal record?
— Remorseful About the Reefer
Atlanta’s sundry startups join in global VC funding boom
Image Credits: Nigel Sussman (opens in a new window)
Alex Wilhelm and Anna Heim continued their tour of U.S. cities after hitting up Chicago and Boston in recent weeks.
This time, they dug into Atlanta’s booming startup scene, which is seeing record capital inflows.
“The picture that forms is one of a city enjoying a rising tide of venture activity, boosted by some local dynamics that may have helped some of its earlier-stage companies scale for cheaper than they might have in other markets,” they write.
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Intuit’s $12B Mailchimp acquisition is about expanding its small business focus
At first blush, the $12 billion Intuit-Mailchimp deal might not make a heck of a lot of sense. But people tend to pigeonhole companies, and in this case they might see Intuit as purely a financial software company and Mailchimp as an email marketing firm and nothing more. If that’s as far as your perspective goes, the deal is confusing. From a wider lens, however, there’s more to both companies than you might think.
Let’s start with Intuit. If you go to the company website and scan the product set, it’s clearly all about managing finances for consumer and small businesses alike. The latter category appears to be what the company wants to exploit and expand upon with this deal.
Prior to yesterday’s news, Intuit’s biggest acquisition had been on the consumer side buying Credit Karma for $7.1 billion last year. That deal gave the company’s customers a way to access their credit scores outside of the big three reporting companies: Experian, Equifax and TransUnion. Apparently not content with only that transaction, it set its sights on Mailchimp to throw some money at the business side of the house.
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The Equity crew riffs on the Intuit-Mailchimp news
Hello and welcome back to Equity, TechCrunch’s venture-capital-focused podcast where we unpack the numbers behind the headlines.
We are back! From this morning, I suppose. But the news cycle doesn’t wait for our publishing schedule, so the Equity crew got together to yammer all about the Intuit-Mailchimp acquisition.
A $12 billion deal composed of stock and cash, it’s a big one. And as Mailchimp has both a history of bootsrapping and a founding story in a non-Silicon Valley city we had lots to chat about.
As a general reminder, if you do listen to the show, hit us up on Twitter as we are doing more and more of these Spaces. They are good and relaxed fun, so don’t take them too seriously. We like to have fun.
Alright, Equity is back on Wednesday with our regularly scheduled programming. Chat then!
Equity drops every Monday at 7:00 a.m. PDT, Wednesday, and Friday at 6:00 a.m. PDT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts!
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Sales scheduling platform Chili Piper raises $33M Series B funding led by Tiger Global
Chili Piper, which has a sophisticated SaaS appointment scheduling platform for sales teams, has raised a $33 million B round led by Tiger Global. Existing investors Base10 Partners and Gradient Ventures (Google’s AI-focused VC) also participated. This brings the company’s total financing to $54 million. The company will use the capital raised to accelerate product development. The previous $18 million A round was led by Base10 and Google’s Gradient Ventures nine months ago.
It’s main competitor is Calendly, started 2 1/2 years previously, which recently achieved a $3 billion valuation.
Launched in 2016, Chili Piper’s software for B2B revenue teams is designed to convert leads into attended meetings. Sales teams can also use it to book demos, increase inbound conversion rates, eliminate manual lead routing and streamline critical processes around meetings. It’s used by Intuit, Twilio, Forrester, Spotify and Gong.
Chili Piper has a number of different tools for businesses to schedule and calendar accountments, but its key USP is in its use by “inbound SDR Sales Development Representatives (SDR)”, who are responsible for qualifying inbound sales leads. It’s particularly useful in scheduling calls when customers hit websites and ask for a salesperson to call them back.
Nicolas Vandenberghe, CEO, and co-founder of Chili Piper said: “When we started we sold the house and decided to grow the company ourselves. So all the way until 2019 we bootstrapped. Tiger gave us a valuation that we expected to get at the end of this year, which will help us accelerate things much faster, so we couldn’t refuse it.”
Alina Vandenberghe, CPO and co-founder said: “We’re proud to have so many customers scheduling meetings and optimizing their calendars with Chili Piper’s Instant Booker.”
The husband-and-wife-founded company was fully remote from day one, with 93 employees in 81 cities and 21 countries, long before the pandemic hit.
John Curtius, partner at Tiger Global said: “When we met Nicolas and Alina, we were fired up by their product vision and focus on customer happiness.”
TJ Nahigian, managing partner at Base10 Partners, added: “We originally invested in Chili Piper because we knew customers needed ways to add fire to how they connected with inbound leads. We’ve been absolutely blown away with the progress over the past year, 2020 has been a step-change for this company as business went remote.”
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Intercom announces the promotion of Karen Peacock to CEO
Three years ago almost to the day, Intercom announced that it was bringing former Intuit exec Karen Peacock on board as COO. Today, she got promoted to CEO, effective July 1. Current CEO and company co-founder Eoghan McCabe will become Chairman.
As it turns out, these moves aren’t a coincidence. McCabe had been actively thinking about a succession plan when he hired Peacock. “When I first started talking to Eoghan three years ago, he shared with me that his vision was to hire someone as COO, who could then become the CEO at the right time and he could transition into the chairman role,” Peacock told TechCrunch .
She said while the idea was always there, they didn’t feel the need to rush the process. “We were just looking for whatever the right time was, and it wasn’t something we were expected to do in the first year or two. And now is really the right time to transition with all of the momentum that we’re seeing in the market,” she said.
She said as McCabe makes the transition away from running the company he helped found, he will still be around, and they will continue working together on things like product and marketing strategy, but Peacock brings a pedigree of her own to the new role.
Not only has she been in charge of commercial aspects of the Intercom business for the past three years, prior to that she was SVP at Intuit where she ran small business products that included QuickBooks, and grew it from a $500 million business to a hefty $2.5 billion during her tenure.
McCabe says that experience was one of the reasons he spent six months trying to convince Peacock to become COO at Intercom in 2017. “It’s really hard to find a leader that’s as well rounded, and as unique as Karen is. You know she doesn’t actually fit your typical very experienced operator,” he said. He points to her deep product background, calling her a “product nerd,” and her undergraduate degree in applied mathematics from Harvard as examples.
In spite of the pandemic, she’s taking over a company that’s still managing to grow. The company’s business messenger products, which enable companies to chat with customers online, have become increasingly important during the pandemic with many brick-and-mortar businesses shut down and the majority of business is being conducted digitally.
“Our overall revenue is $150 million in annual recurring revenue, and a supporting data point to what we were just talking about is that our new business to up market customers through our sales teams has doubled year over year. So we’re really seeing some quite nice acceleration there,” she said.
Peacock says she wants to continue building the company and using her role to build a diverse and inclusive culture. “I believe that [diversity and inclusion] is not one person’s job, it’s all of our jobs, but we have one person who’s the center post of that (a head of D&I). And then we work with outside consulting firms as well to just try and stay in a place where we understand all of what’s possible and what we can do in the world.”
She adds, “I will say that we need to make more progress on diversity and inclusion. I wouldn’t step back and pat ourselves on the back and say we’ve done this perfectly. There’s a lot more that we need to do, and it’s one of the things that I’m very excited to tackle as CEO.”
According to a February Wall Street Journal article, less than 6% of women hold CEO jobs in the U.S. Peacock certainly sees this and wants to continue to mentor women as she takes over at Intercom. “It is something that I’m very passionate about. I do speak to various different groups of up and coming women leaders, and I mentor a group of women outside of Intercom,” she said. She also sits on the board at Dropbox with other women leaders like Condoleezza Rice and Meg Whitman.
Peacock says that taking over during a pandemic makes it interesting, and instead of visiting the company’s offices, she’ll be doing a lot of video conferences. But neither is she coming in cold to the company having to ramp up on the business side of things, while getting to know everyone.
“I feel very fortunate to have been with Intercom for three years, and so I know all the people and they all know me. And so I think it’s a lot easier to do that virtually than if you’re meeting people for the very first time. Similarly, I also know the business very well, and so it’s not like I’m trying to both ramp up on the business and deal with a pandemic,” she said.
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How to get people to open your emails
Julian Shapiro is the founder of BellCurve.com, a growth marketing agency that trains you to become a marketing professional. He also writes at Julian.com.
More posts by this contributor
We’ve aggregated the world’s best growth marketers into one community. Twice a month, we ask them to share their most effective growth tactics, and we compile them into this Growth Report.
This is how you’re going stay up-to-date on growth marketing tactics — with advice you can’t get elsewhere.
Our community consists of 600 startup founders paired with VP’s of growth from later-stage companies. We have 300 YC founders plus senior marketers from companies including Medium, Docker, Invision, Intuit, Pinterest, Discord, Webflow, Lambda School, Perfect Keto, Typeform, Modern Fertility, Segment, Udemy, Puma, Cameo, and Ritual .
You can participate in our community by joining Demand Curve’s marketing webinars, Slack group, or marketing training program. See past growth reports here and here.
Without further ado, onto the advice.
How can you send email campaigns that get opened by 100% of your mailing list?
Based on insights from Nick Selman, Fletcher Richman of Halp, and Wes Wagner.
- First, a few obvious pieces of advice for avoiding low open rates:
- Avoid spam filters by avoiding keywords commonly used in spam emails.
- Consider using email subjects (1) that are clearly descriptive and (2) look like they were written by a friend. Then A/B your top choices.
- Include the recipient’s name in your email body. This signals to spam filters that you do in fact know the recipient.
- Now, for the real advice: Let’s say 60% of your audience opens your mailing, how can you get the remaining 40% to open and read it too?
- First, wait 2 weeks to give everyone a chance to open the initial email.
- Next, export a list of those who haven’t opened. Mailchimp lets you do this.
- Important note: The reason many recipients don’t open your email is because it was sent to Spam, it was buried in Promotions, or it was insta-deleted because it looked like spam (but wasn’t). The goal here is to resuscitate these people. You have two options for doing so:
- (1) Duplicate the initial email then selectively re-send it to non-openers. This time, use a new subject (try a new hook) and downgrade the email to plain text: remove images and link tracking. De-enriching the email in this way can help bypass spam filters and the Promotions tab.
- (2) Alternatively, export your list of non-openers to a third-party email tool like Mailshake (or Mixmax).
- First, connect Mailshake to a new Gmail account on your company domain.
- Next, configure Mailshake to automatically dole out small batches of emails on a daily schedule. Let it churn through non-openers slowly so that Gmail doesn’t flag your account as a spammer.
- Emails sent through Mailshake are more likely to get opened than emails sent through Mailchimp. Why? Mailshake sends emails through your Gmail account, and Gmail-to-Gmail emails have a greater chance of bypassing Spam and Promotions folders, particularly if the sender doesn’t have a history of its emails being marked as spam.
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How to get your ads working, and whether PR is worth it
Julian Shapiro is the founder of BellCurve.com, a growth marketing agency that trains you to become a marketing professional. He also writes at Julian.com.
More posts by this contributor
We’ve aggregated the world’s best growth marketers into one community. Twice a month, we ask them to share their most effective growth tactics, and we compile them into this Growth Report.
This is how you’re going stay up-to-date on growth marketing tactics — with advice you can’t get elsewhere.
Our community consists of 600 startup founders paired with VP’s of growth from later-stage companies. We have 300 YC founders plus senior marketers from companies including Medium, Docker, Invision, Intuit, Pinterest, Discord, Webflow, Lambda School, Perfect Keto, Typeform, Modern Fertility, Segment, Udemy, Puma, Cameo, and Ritual.
You can participate in our community by joining Demand Curve’s marketing webinars, Slack group, or marketing training program. See past growth reports here.
Without further ado, onto the advice.
How to get customer testimonials from hard-to-reach executives
Based on insights from Guillaume Cabane.
A customer testimonial from a well-known executive may be the social proof that improves conversion rates on your landing pages or in sales collateral. But executives of reputable companies are generally busy and difficult to reach.
Here’s how to get the testimonial:
- Contract with a freelance journalist who’s written for a reputable publication like the New York Times.
- Reach out to your executive customers with something like “Hey, we have a journalist who has previously written for NYT who’s interested in speaking to a few of our customers for a piece. Do you have 15 minutes for a quick call?”
- For $200 in freelancer time, you get a testimonial you can use (in the words you want) from a reputable executive. Be sure to figure out some way to make it worth the executive’s time.
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How to work with top influencers and avoid ad blockers
Julian Shapiro is the founder of BellCurve.com, a growth marketing agency that trains you to become a marketing professional. He also writes at Julian.com.
More posts by this contributor
We’ve aggregated the world’s best growth marketers into one community. Twice a month, we ask them to share their most effective growth tactics, and we compile them into this Growth Report.
This is how you’re going stay up-to-date on growth marketing tactics — with advice you can’t get elsewhere.
Our community consists of 600 startup founders paired with VP’s of growth from later-stage companies. We have 300 YC founders plus senior marketers from companies including Medium, Docker, Invision, Intuit, Pinterest, Discord, Webflow, Lambda School, Perfect Keto, Typeform, Modern Fertility, Segment, Udemy, Puma, Cameo, and Ritual.
You can participate in our community by joining Demand Curve’s marketing webinars, Slack group, or marketing training program.
Without further ado, onto the advice.
Editor’s note: This is the first of a new series of articles on startup growth tactics in 2019 for Extra Crunch. This first article has been unlocked for all TechCrunch readers.
Don’t abandon email unsubscribers. They’re still useful.
Based on insights from Matt Sornson of Clearbit.
You’ve launched a new feature and want to tell your audience about it. You can send an email to your newsletter subscribers, but how do you reach the 20%+ who unsubscribed? Most people mistakenly consider this audience to be a lost cause.
- Create a custom audience of all newsletter unsubscribers on Facebook.
- Run ads announcing the new feature to that audience.
- Now you’ve reactivated people who at one point had an interest in your product — instead of forever ignoring them.
Tips for effectively working with influencers
Based on insights from Barron Caster of Rev.
- Create a referral system for influencers: Influencers who sign up others get a % of their sales or signups. This makes a mini-pyramid structure and turns your influencers into a salesforce. Why is this important? Some influencers don’t actually sell products, but just sign up tons of other influencers. Find these people.
- Get everything you can out of an engagement (e.g. permission to use them as a testimonial for emails, social proof, etc.).
- Working with influencers is a relationship-building game:
- Actually go to conferences to meet influencers.
- Treat influencers like royalty. Surprise them with gifts like flowers/donuts. $100 to send a gift can pay hefty dividends if they like your brand more and share that with their followers.
- Give influencers a tangible benefit to share with their followers. They care about their followers and want to beneficially incentivize them to click on their link and buy with them.
More tips for working with influencers
Based on insights from Cezar Grigore of Tremo Books.
- Geo rollouts: Your ROI increases when a bunch of influencers in the same category / region share your product within an interval of 2-4 weeks. It gives the impression that everyone is talking about your product.
- Initially focus on influencers with 10-150k audiences. They’re smaller and more willing to accept bartered deals. There are enough influencers in this range willing to work in exchange for a free product. Most may not be producing results, but some work well, bringing in 50-200 customers within 24 hours. As you build up your following and reputation for your brand, it becomes much easier to work with more influential people.
- It’s harder to cut deals with bigger influencers (100k-2M). Only about 5-10% of bigger influencers are willing to work on an affiliate basis (e.g. $10/customer).
Overcoming ad blockers that screw up your conversion data
- Ad blockers can block FB’s tracking libraries and underreport ad conversions (even by 50%). The trick? Consider using the static IMG FB pixel — not the JavaScript one — which ad blockers don’t appear to block. — C.
- Here’s another ad block workaround: You can extract UTM tags from the URL then save them into LocalStorage using JavaScript. Next, send that stored data plus the user’s on-site conversion behavior to a custom backend that, inherently, will circumvent ad blockers. Just be diligent about ensuring your marketing links all have UTM tags. —Neal O’Grady of Demand Curve
- Remember that the use of ad blockers varies heavily by audience and device type. Depending on who your audience is, ad blockers can either be a huge problem or a non-problem. —Neal O’Grady of Demand Curve
- So, for example, few people on mobile have ad blockers. Not much of a problem there.
- However, on desktop, up to ~75% of millennial gamers and techies may have it installed.
- In contrast, on desktop, maybe only 25% of middle-aged Americans outside of tech hub cities may have it installed.
- These are hand-wavy numbers. Google for specifics.
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Segment CEO Peter Reinhardt is coming to TechCrunch Sessions: Enterprise to discuss customer experience management
There are few topics as hot right now in the enterprise as customer experience management, that ability to collect detailed data about your customers, then deliver customized experiences based on what you have learned about them. To help understand the challenges companies face building this kind of experience, we are bringing Segment CEO Peter Reinhardt to TechCrunch Sessions: Enterprise on September 5 in San Francisco (p.s. early-bird sales end this Friday, August 9).
At the root of customer experience management is data — tons and tons of data. It may come from the customer journey through a website or app, basic information you know about the customer or the customer’s transaction history. It’s hundreds of signals and collecting that data in order to build the experience where Reinhardt’s company comes in.
Segment wants to provide the infrastructure to collect and understand all of that data. Once you have that in place, you can build data models and then develop applications that make use of the data to drive a better experience.
Reinhardt, and a panel that includes Qualtrics’ Julie Larson-Green and Adobe’s Amit Ahuja, will discuss with TechCrunch editors the difficulties companies face collecting all of that data to build a picture of the customer, then using it to deliver more meaningful experiences for them. See the full agenda here.
Segment was born in the proverbial dorm room at MIT when Reinhardt and his co-founders were students there. They have raised more than $280 million since inception. Customers include Atlassian, Bonobos, Instacart, Levis and Intuit .
Early-bird tickets to see Peter and our lineup of enterprise influencers at TC Sessions: Enterprise are on sale for just $249 when you book here; but hurry, prices go up by $100 after this Friday!
Are you an early-stage startup in the enterprise-tech space? Book a demo table for $2,000 and get in front of TechCrunch editors and future customers/investors. Each demo table comes with four tickets to enjoy the show.
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Mint founder Aaron Patzer launches Vital, an ER management tool that integrates with electronic health records
Aaron Patzer launched Mint to help consumers organize their finances. Now he’s raised $5.2 million from investors to launch Vital to bring that consumer-focused mindset to emergency rooms and hospitals to help them organize patient flow.
Patzer co-founded the company with his brother-in-law Justin Schrager, a doctor of emergency medicine at Emory University Hospital. The serial entrepreneur invested a million dollars and two years of peer-reviewed academic study and technical research and development to create Vital, according to a company statement.
Investors in the seed round include First Round Capital and DFJ, Bragiel Brothers, Meridian Street Capital, Refactor Capital and SV Angel. Alongside angel investors Vivek Garipalli, the chief executive of CloverHealth and Nat Turner and Zach Weinberg, the founders of Flatiron Health, these investors are hoping that Patzer can repeat in the healthcare industry the magic he brought to financial services.
“The HITECH* Act was well-intentioned, but now hospitals rely on outdated, slow, and inefficient software – and nowhere is it more painful than in the emergency room,” said Patzer, in a statement. “Doctors and nurses often put more time into paperwork and data entry than patient care. Vital uses smart, easy tech to reverse that, cutting wait times in half, reducing provider burnout and saving hospitals millions of dollars.”
Vital isn’t so much replacing the current system of electronic health records as providing a software integration layer that makes those systems easier to use, according to the company.
It’s basically a two-sided application with a survey for incoming patients. An admitting nurse begins the record and as a next step a patient receives a text to add details like height, weight, recent surgeries, medications and allergies, just as they would on a paper form. Patients can also submit a photo of themselves and their insurance card to expedite the process.
The information is then fed back into a tracking board that doctors and nurses use to prioritize care. A triage nurse then reviews the data and affirms that it is correct by taking vital signs and assessing patients.
All of that data is fed into an algorithm that analyzes the available information to predict a course of treatment and help staff in the emergency room prioritize who needs care first.
Vital’s selling the service to emergency rooms with a starting sticker price of $10,000 per month.
“Vital successfully built software with a modern, no-training-required interface, while also meeting HIPAA compliance. It’s what people expect from consumer software, but rarely see in healthcare,” says First Round investor Josh Kopelman, who’s taking a seat on the company’s board of directors. “Turning massive amounts of complex and regulated data into clean, easy products is what Mint.com did for money, and we’re proud to back a solution that’ll do the same in life and death situations.”
In some ways, Vital looks like the patient-facing admissions side of a coin that companies like Qventus have raised tens of millions of dollars to solve at the systems level.
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