The GoWall Opportunity
Bill Kern, CEO of GoWall (website), approached us to help him optimize his fundraising strategy. We started by looking at his corporate strategy. What we found was an opportunity to increase his total addressable market (TAM) by 10x, transforming his conversation with investors.
This is a story of the forest and the trees.
GoWall came to us with a solid idea, great team, released product, and initial penetration into some Fortune 100 customers. Cisco is a GoWall customer and has granted them CASPR security certification. They also have a significant pipeline and several pilots underway. So we felt good about their company vision and traction.
GoWall’s value proposition centered around business meetings. (You know, those frequently tedious things that most people want fewer of?) GoWall makes meetings — gasp — more engaging and participatory. Meetings become powerful, compelling, natural, and intuitive. It actually makes meetings worth their company’s investment in those meetings.
Just how big is that investment? The global corporate investment in meetings is remarkably large. In the US alone, there are about 187M meetings attendances (i.e., 1 person to 1 meeting) every day. Assuming just 20% meeting inefficiency (suboptimal attention, participation, etc.), that’s about $287 billion in lost labor costs.
So, there is a huge market opportunity and a significant customer ROI. But still, maybe not compelling enough for some investors.
But those are just the trees. Working with Bill, Advantary was able to focus in on the essential value of the GoWall platform, help Bill see the forest all around, and evolve the company strategy. Here it is.
Have you noticed that when you’re in a meeting, people are taking notes using whatever means they like: notepads and pen, iPads, Post-Its, computers – or just plain nothing at all. In other words, 100% of the company’s investment in that meeting leaves the room in unstructured, unlinked, and unsearchable analog scribblings. Important meeting information is either not collected at all or literally evaporates as participants walk out the door, and only a small fraction is ever recaptured, analyzed, acted upon, or used in any way.
What GoWall does, in addition to providing an ideal meeting productivity product, is provide the foundational system for 100% capture of discussions, ideas, and actions. This will include every meeting, related to each other in a searchable database in the cloud. And it will do this across all meetings, across all departments, and eventually the entire enterprise.
GoWall is really an enterprise Business Intelligence platform with a unique value proposition. Voila! The forest is now in view.
Advantary helped reposition the GoWall opportunity from a meeting facilitation tool to a Business Intelligence platform. Our analysis shows that the market opportunity is at least 10x larger than the strategy that Bill originally presented to us. Now that’s a seriously compelling value proposition for both SME and F2500 enterprise clients.
And that’s seriously good return on Bill’s investment in Advantary.