Welcoming Signpost to the Georgian Partners Portfolio
Yesterday we announced our investment in Signpost, an automated marketing solution that helps small local merchants and national franchisees get more customers, reviews and referrals. If you want more details about the deal, you can find them here. In this post, I’d like to share a little more about why we think Signpost is such an amazing company and why we are so excited to welcome them as our latest portfolio company.
We have made a number of investments in companies who, like Signpost, are targeting the SMB B2B marketplace. It’s an exciting area because these companies often design the software that makes it possible for even the smallest merchants to scale their business. In many cases merchants’ software not only powers their businesses, but also provides the features and functionality necessary to create user and customer experiences that are on par with big brands.
In that respect, I believe Signpost is helping pave the way for a democratization of experience that is critically important for the SMB market on which Signpost has zeroed in.
What makes Signpost particularly exciting is that it’s just now hitting critical mass in terms of number of customers. Combined with its ability to automatically gather customer data, Signpost is poised to ride the next big wave in CRM: running analytics against massive SMB data sets to derive high value insights that can be automatically injected into customers’ business processes for end-to-end optimization.
Signpost’s analytic optimization potential is huge. Being able to look at its aggregate customer base and all of the experiences — both good and bad — of the merchants they work with will allow them to proactively recommend or change business process flow for end customers. That in turn will make them more efficient and better at finding and retaining customers. No single merchant could hope to tap the power of this collective insight, so Signpost is uniquely positioned to provide tremendous value here.
Beyond their market focus and analytic opportunities we were also struck by the culture Signpost has fostered and the way it uses that culture to its advantage as it hires and on-boards new team members. For a relatively young business, we were very impressed with how mature Signpost’s thinking is in terms of creating competitive advantage through their culture.
We’re very pleased to welcome Signpost to the Georgian Partners family and look forward to working closely with them in this next phase of the company’s growth.