Challenge
Federato needed to build a revenue team and a repeatable, scalable revenue engine to get to their Series B round.
How Federato’s Revenue Engine Helped Raise Series B Funding Preemptively
Federato is a B2B Saas platform that helps insurers leverage AI to reduce underwriting risk.
As a company founded by data scientists, they understood the impact of a revenue engine.
They hired Union Square Consulting to help them build it.
Key Takeaways
Solution
Within six weeks they were stood up on Salesforce, with the rest of their tech stack soon following.
Outcome
Able to show credible, organized revenue data on their impressive growth, Federato raised their Series B preemptively.
If we don’t start doing things from a data perspective correctly, early, we will never have the data we want.
The Challenge
Federato CEO and co-founder, Will Ross, was initially skeptical about their need for RevOps. At the point of their Series A fundraising, they had just begun the early stages of constructing both their revenue team and revenue engine.
In a challenging fundraising climate, Federato was seeking to build a solid foundation to attract customers and exhibit traction to potential investors.
I can definitely say that Gerry is one of the best Salesforce implementation people I’ve ever seen.
The Solution
Federato hired Union Square Consulting shortly after securing their Series A funding, as they prepared to start building their revenue team.
We started with a comprehensive review of their GTM Strategy and Process, picking it apart in order to implement it into their evolving tech stack.
Will worked closely with Gerry, our VP of Revenue Operations Systems, to finetune their data and reporting. This allowed Federato to demonstrate a repeatable and scalable process to grow revenue.
“We wanted someone who would challenge us on the consulting side to make sure we’re doing the best things based on the data,” says Will.
The ROI of working with USC? What is the value of raising your Series B preemptively?
The Outcome
As they approached Series B funding, Federato was armed with solid data insights, reflecting what worked and what they could expect going forward.
“I had every metric at my fingertips in terms of CAC, payback, average sales cycle, average ticket size, and on and on,” says Will.
Federato’s journey serves as a testament to the power of building a revenue team and revenue engine that resonates with customers and investors alike.
In a competitive fundraising environment, they led a successful preemptive Series B funding round.
“Being able to communicate that data to our existing investors is what made them realize, ‘Oh my God, the second Federato wants to raise a Series B, they could. We’re going to try and get ahead of this,’ ” says Will.
Plan for success. Get there faster.
See why building an optimized revenue engine is a no-brainer need for growth-minded businesses.