Kompyte’s U.S. Success Story
How this SMB from Spain in the ICT industry made it in the U.S.A
Country Of Origin Spain
U.S. HQ. Austin, Texas
Industry ICT
Year Founded January 2014
Number Of Employees Less than 15
Annual revenue Less than $1M
About Kompyte
Kompyte is Software as a Service (SaaS) startup that offers user-friendly competitive intelligence software that tracks and analyses competitor’s strategies in real time. The competitor tracking software sends real-time alerts when competitors make changes to their websites, products, and digital marketing campaigns. In addition, Kompyte also automates competitor reporting. That helps marketers identify not only what their competitors are up to, but also identifies what is working for them. Then, marketers can leverage these insights to improve their product and marketing strategy. Currently, the main competitors to the company are Rival IQ, TrackMaven and Unmetric.
The US Expansion
Pere Codina, Alberto Colmenero, and Sergio Ramírez, all as equal partners, launched the startup in Barcelona. This trio worked together on their first venue Cocosoft. In 2014, Kompyte was very successful from the start. Quickly, the company turned its focus to the fast-growing marketing automation market in the USA. Now, the company has offices in San Francisco, California, and Austin, Texas.
In 2015, the company secured multiple partnership deals in the US. Consequently, the company received fresh funding from New York’s Venture Capital firm, Rose Tech Ventures. Moreover, the company entered the accelerator program 500 startups in Silicon Valley last year. Kompyte then acquired a strong customer profile of Fortune 500 companies. Two years ago, Kompyte joined forces with Adara Ventures and Gaesco Venturcap and is looking to accelerate growth in the US market.
The growth projection in the US follows the vast advancement of the company’s technology. Many software engineers concur that the company has taken a big step in their international expansion by officially launching in the United States. Some say that support from Rose Tech Ventures will help Kompyte capitalize on the world’s largest and most mature tech market.
Remarkably, Kompyte launched their latest version in May last year during the Collision Conference in Las Vegas. A majority of the company’s customers are now from the US. To capitalize on their fastest-growing market, the company has adopted strategic steps to focus their efforts across the Atlantic. This includes new partnerships and distribution agreements. Barcinno. the innovation hub for Barcelona’s entrepreneurial and technology communities introduced Kompyte to the Barcelona startup ecosystem last summer. Based on their international expansion, it is proof the global market is responding to their SaaS offering.
To make the US expansion plan effective, the company’s proprietary core technology aims to fill two critical needs.
Digital Marketing Analytics – Kompyte helps marketing teams understand, measure, improve their digital strategies to position their brand effectively in the marketplace. This will help clients to have the greatest impact with their target audience.
Online Competitor Tracking – Kompyte automates all competitor-tracking activities. The software sends real-time alerts if a competitor changes their pricing, launches an AdWords campaign or updates their website. Notably, the technology can even detect new competitors that enter an industry by tracking preferred keywords.
Impact of Kompyte to Purchasing Processes
As at now, most of the small businesses in the US are shopping online. Nonetheless, many small business owners attest that buying online is incredibly difficult. An online market is a noisy place with the current number of online businesses standing at 120M. To solve this problem, Kompyte has developed a unique technology that provides companies with an incredible advantage when competing online.
In a mature market, it can be devastating to maximize revenue if a competitor runs a promotion or dumps their pricing. The time between their changes in pricing and realization by a competitor could end up lowering revenue. For US business owners, Kompyte solves that need by alerting you in real-time. The notification will come in when a competitor makes a change on their website, runs a promotion, or launches a new marketing campaign.
Perhaps, what is even more impressive is the ability to analyze the competitors marketing strategies and use them as benchmarks. From a marketing perspective, it can help a businessperson predict the impact of their content and social marketing campaigns. Furthermore, Kompyte tracks your competitors’ blog and social media channels. The software analyzes and indicates the types of posts creating the most engagement and impact with a target audience. Is this not a dream for content marketers and social media managers everywhere?
Kompyte’s Funding
The company has raised half a million dollars to date for their first international financing round. Funding for the latest investment round involving the US expansion includes Rose Tech Ventures, uniting with Rose Tech Ventures are Alantis Capital and IDODI Ventures, a VC firm with roots in Dublin and Barcelona.
Fortunately, other mentors and business angels from the Conector Accelerator program have also invested in the Kompyte’s US expansion plan. This includes Lluís Font, founder of Zyncro, who will take a seat on the board of directors. This move aims at allowing him to contribute his expertise in sales and his knowledge of running an international SaaS company.
To get the most out of the impact of their US launch, Kompyte has closed partnership agreements with Gust and Jahia. Gust is the world’s largest business angel network based in New York City while Jahia is the leading open source User Experience Platform (UXP). Therefore, the companies and startups in the extensive networks of both companies will have special access to Kompyte.
Pere Codina, CEO of Kompyte, highlights that these international agreements are a great opportunity to multiply the company’s visibility. The trade agreements with US-based companies in the same industry will put Kompyte on the map.
Sources
Note: This company is not a client of, or associated in any other way with, Mount Bonnell Advisors, or has been involved in this publication. This content has been produced using the following information sources in the public domain: