US Software Company
After investing nearly $20 M in a first round of financing that resulted in a sales pipeline of less than $5 M two years later, major investors needed to understand what was broken in the business plan.
The software product company engaged The Lanigan Group to conduct an executive review of its business strategy before deciding on its next major round of investment.
Within three weeks, The Lanigan Group reviewed the company's market opportunity, customers, partners, product architecture, sales process, and go-to-market alternatives. We:
- Refined a market-engagement strategy that leveraged customer relationships into a highly-focused vertical market engagement model;
- Identified the market acceptance issues that were blocking sales and how they could be overcome;
- Identified key risk areas in the plan, mitigation alternatives, and the incremental return on investment that could be obtained from mitigating those risks.
As a result of the review, the company was able to increase its market focus and deal with its market acceptance issues. The improved focus gave the Board the confidence it needed to proceed with continued investment, resulting in a multi-million dollar second-round financing.