Startup profile: Screenful - a boutique SAAS developer with 400 customers from 40 countries.
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Screenful is a software company developing visual dashboards for project management and automated team status reports for tools like Jira, Trello, GitHub and Pivotal Tracker. The company consists of two founders and a team of four located in Helsinki and Yerevan and has 400 customers, half of which are US-based.
What are the names of founders, their management roles, and how many full-time paid employees do you have?
The company was founded by Sami Linnanvuo (CEO) on 2013 and shortly after Tuomas Tammi (CTO) joined as the Co-founder.
We’re a distributed team divided in two locations: Helsinki and Yerevan. Our headquarters is in Helsinki. We have now a total of four members in the team.
How much investment funding have you raised to date and from which investors?
We have raised a total of €500 000 from business angels and seed investors. Earlier this year we participated the Arctic15 funding program and came out as the winner among 270 startups.
At the same time, we closed an investment from Gorilla Capital, a Finnish seed venture capital fund. So the year 2018 was really a turning point for us.
What problem do you solve and for what industry?
Screenful develops an analytics tool to help companies to be more successful in their project delivery. It’s a dashboard that pulls data from the tools that the teams are already using.
We integrate with tools like Jira, or Trello or Asana, and visualise the data that sits in those tools. There’s lots of valuable data already collected in those tools so we just put that data into a better use.
Our typical customer is team leader, CTO, product owner or someone who has one or more teams below him. This person needs to communicate the progress of the projects to the people around him, including his boss, marketing and sales people, and also the customer. We help this person by calculating the project KPIs and visualising the progress.
So instead of having to make guesses on on how their projects are doing, managers can look at the data and the metrics to make more informed decisions.
How do you make money, what is your business model?
We operate in a SaaS model with monthly subscription plans. It’s a full self-service model so that users sign up for a free trial and if they like the product they can purchase it with a credit card. The pricing starts at $29 / month and goes up according to the number of dashboards they create.
Why do you think the value you're creating is so important that customers are willing to pay for your solution?
As more and more companies are making the transition to digitalisation, the role of software development is more important than ever. Making decisions based on metrics has been commonplace in sales and marketing for decades.
However, the production side (i.e. the digital delivery pipeline) is still largely a black box. Managers don’t know what are the real causes of delays and where are the bottlenecks in the production.
Now companies have started to realise that their digital production processes (also called "value streams”) are actually their most important assets when it comes to innovation, and to staying competitive in the digitalised marketplaces of the future. We provide metrics and visibility to these processes so that our customers can start improving them.
Do you have paying customers or some sort of external validation?
We have now about 400 paying customers, coming from more than 40 different countries. US, UK, and Brazil are the countries bringing us most customers.
We get about 200 signups per week for our free trial. A subset of those convert to a paid plan so that we get an average 1-2 paying customers per day. It’s a fully automated sales process and there’s no direct sales interaction at any point of the funnel.
Who is your local and international competition?
There’s are plenty of good analytics tools on the market for sales & marketing data but since we're focused on tracking the production side of things there’s much less competition. I don’t think there is any Finnish company who we could consider a competitor. Internationally, there’s a bit more competition.
I’d say there’s about a dozen companies who are targeting the same domain. If I’d mention names, chances are that you haven’t heard of any of them. That means that there is no clear category leader in our specific niche.
What is the biggest challenge you need to solve in the next few months?
Technical recruiting. We’re in a talent business so we need to find the ways to attract top talent.
If you're hiring, why should anybody join you?
We’re hiring to multiple positions. We try to live as we preach, which means that we take product development seriously and really try to create an exceptional product using the latest tools, technologies, and processes. For those into making things, that may sound attractive.
You completed an investment round early in 2018. Are you looking for more funding? If yes, how much and for what?
Right now we’re not looking for an investment. The dilemma with startup funding is that when you need one, it’s really difficult to get it, and when you don’t need it, it’s very easy. Right now we’re in a lucky position of not having a desperate need for funding.
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