SaaS leader CloudKPI down to final 9 for Connecticut’s $5 million global venture challenge
San Francisco, California
September 7th, 2018 – CloudKPI today announced the company has been named a finalist in the 2018 VentureClash competition. VentureClash, managed by Connecticut Innovations, is a $5 million global venture challenge for early-stage companies in digital health, financial technology, insurance technology and the Internet of Things.
This year’s VentureClash competition attracted nearly 300 applications from more than 20 countries around the world. After already advancing through the semi-final round with 33 other companies, CloudKPI will now compete in the final pitch event as one of just nine start-ups vying for a share of the $5 million prize at Yale University, CT, on October 18th.
CloudKPI co-founder Maeve Kneafsey said, “My co-founder Brenda Jordan and I decided to focus on the US market, convinced that we had to design our solution around the needs of the world’s leading SaaS customers so as to become the leader in analytics for cloud-based software companies, worldwide.
“Becoming a VentureClash finalist has validated everything we have done to date. Connecticut is an ideal place for CloudKPI to base our next US office as it gives easy access to our key markets in New York and Silicon Valley and to our developers in Dublin, Ireland. However, for now, the focus is on winning the main prize in Yale in October! Being shortlisted means we’re on our way to fulfil our global ambitions and this will help hugely with our $1m seed funding that we’re about to close.”
Matt McCooe, CEO of Connecticut Innovations added, “This year’s VentureClash competition has been both intense and exciting, as it has attracted so many impressive early-stage companies from around the world. The selection of CloudKPI as a finalist reflects the positive impression the company has made during the process. We look forward to seeing their final pitch presentation next month at Yale.”
VentureClash 2018 finalists will compete in front of a panel of expert judges at a one-day pitch event to be held on October 18, 2018, at the Yale School of Management in New Haven, Connecticut.
CloudKPI aims to become the world’s leading analytics solution for cloud-based businesses. The company’s two co-founders, Maeve Kneafsey and Brenda Jordan have focused their solution on the US, home of half of the world’s fast-growing SaaS companies. Brenda has previously founded and built a management accountancy firm before developing an automated financial metrics solution for SMBs. CloudKPI is Maeve’s fourth successful startup, having previously founded Ireland’s first digital strategy and analytics agency as well as a digital benchmarking solution for retail banks.
CloudKPI’s insight engine transforms aggregated cloud business data into insights that can’t be found otherwise.
Using metrics from across the entire customer journey, the solution identifies a business’s most valuable customers, shows how to acquire more at the lowest possible cost and how to retain the ones they already have
Focused initially on the 80% of software companies that will migrate to the cloud-based subscription model (SaaS) in the next 36 months, CloudKPI is customised to meet the needs of the SaaS industry. The software automatically aggregates data from right across the business. It formulates the complex metrics (churn, CAC:LTV, pipeline MRR etc), delivers them in consumable visualisations, supports dynamic reporting and reveals insights. Using predictive models and deep machine learning the solution can automatically spot anomalies or trends and alter the team to take action. As a plug and play solution, CloudKPI can be set up quickly and deliver value from the outset.
Managed by Connecticut Innovations, VentureClash is Connecticut’s global venture challenge focused on early-stage companies. The challenge identifies high-potential companies in digital health, fintech, insurtech and the Internet of Things that will receive investments from a $5 million investment award pool. Learn more at www.ventureclash.com.
FOR FURTHER INFORMATION
Maeve Kneafsey, Co-founder, CloudKPI 00 353 87 240 1919
Media; Conall O Móráin, CEO, The Media Group, 00 353 87 2463 111