Meet our AdTech/MarTech Startup of the Year: GrowthIntel

Tom, thanks for joining us today. Can you
tell us a bit about GrowthIntel? Yeah, certainly. GrowthIntel predicts which
businesses are going to buy from you. We work on behalf of companies that are selling to
small businesses and there are millions of small businesses in the country and hundreds
of millions around the world. So GrowthIntel gives you a statistical probability of each
company taking a meeting with you and it helps marketers become a lot more efficient at going outbound
to talk to small businesses about their products and services, and it also allows them to address
parts of the economy that they wouldn’t otherwise have attempted to sell to, because we
can say “look, here are lots and lots of companies that are very likely to buy
from you” and then they can go and market to that part of the economy. And where did the idea come from? Well I’ve been helping businesses identify
their best prospects for quite a number of years. I used to run a magazine called Startup
Intelligence, and one day IBM came to us and said “can you find me 25 companies that
are like these ones, our best prospects?”, and so we knew that they couldn’t find these
companies using traditional data sources (Experian, Dun & Bradstreet, credit reference agencies)
because they were too small and they were doing something that didn’t fit into a standard
industry classification code. They were Internet of Things companies. But I could go on the internet and I could find these
companies, and I knew they were going to be a good prospect for IBM. So we started writing
these reports for them and I met a guy called Prash, who’s my co-founder, and he was building
passive sonar systems to identify submarines from the sound of the water for the Ministry
of Defence. We had the idea that maybe we could use a similar sort of technology to
identify which companies were the very best prospects for IBM, and it built from there.
We turned it into a software company and that’s what we do today. Fantastic, and what would you say have been the main success points for your company so far? Our biggest success is that our clients are
making a lot of money out of GrowthIntel. So we have a large logistics company that’s
making £1m a month in areas of the market that they would never have gone into previously,
so this is incremental revenue, and it’s a pretty big strategic deal for them. A large
business credit card company has become five times more efficient with their marketing
over the last two years in using GrowthIntel. They now make five times the amount of money
for every pound spent on marketing than they did previously. What do you hope to achieve for the rest of
this year then? Well we’ve got some really big clients on
board now. We’ve got American Express, we’ve got FedEx, we’ve got Vitality Health Insurance and we’ve got
a lot of companies that are in the process of working with us, so we’ve built models
for them and they’re currently calling on our data. So it’s a really exciting year
because more and more of those are going to be coming through our process and starting
to learn what artificial intelligence can really do for their marketing process. Brilliant, thanks for joining us Tom. Thank you very much.

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