When companies have to pick what kinds of services they want for their operation — like marketing or human resources — they can easily be paralyzed by choice.
That’s why Vamshi Mokshagundam and Ayan Barua decided to start Siftery, a database of sorts where companies list their software stacks. The company just raised $4 million from Felicis Ventures, Founders Fund, and Venrock among others.
The hope is that as more companies share what services they use, Siftery will be able to recommend the best service they should use for a particular scenario. Siftery compares companies with similar stacks and looks for differences to make some recommendations. For instance, if two companies are using the same four services, but a second one is using a different one for marketing, Siftery may recommend that to the first company.
“There’s 30 different marketing solutions out there, you have to figure out what one or two products work, the graph does that for you,” Mokshagundam said. “Airbnb using this cool customer engagement product that people might not know about. This is a product you want to discover, you want to say hey this looks cool, I want to use it. Active selection is one point. But there’s this passive discovery part where the graph can surface interesting products you don’t know about.”
Siftery came about after Mokshagundam’s previous company had its own issues figuring out what services to use. The company had 15 people, but it employed more than 60 services, he said. That can not only get out of hand, but easily become very expensive — especially when companies don’t know that they can get discounts or are using services they don’t even need.
Traditionally, in order to determine what services other companies are using, individuals or companies would basically have to ask around, Mokshagundam said. Siftery, here, also has an advantage because it can upfront negotiate for discounts on services — which they already often offer — that it can then serve back to its members. That, too, helps offer Siftery a pathway to revenue, Mokshagundam said. Techcrunch.com/2016/02/02/siftery-a-database-of-what-services-companies-are-using-raises-4m/
That’s why Vamshi Mokshagundam and Ayan Barua decided to start Siftery, a database of sorts where companies list their software stacks. The company just raised $4 million from Felicis Ventures, Founders Fund, and Venrock among others.
The hope is that as more companies share what services they use, Siftery will be able to recommend the best service they should use for a particular scenario. Siftery compares companies with similar stacks and looks for differences to make some recommendations. For instance, if two companies are using the same four services, but a second one is using a different one for marketing, Siftery may recommend that to the first company.
“There’s 30 different marketing solutions out there, you have to figure out what one or two products work, the graph does that for you,” Mokshagundam said. “Airbnb using this cool customer engagement product that people might not know about. This is a product you want to discover, you want to say hey this looks cool, I want to use it. Active selection is one point. But there’s this passive discovery part where the graph can surface interesting products you don’t know about.”
Siftery came about after Mokshagundam’s previous company had its own issues figuring out what services to use. The company had 15 people, but it employed more than 60 services, he said. That can not only get out of hand, but easily become very expensive — especially when companies don’t know that they can get discounts or are using services they don’t even need.
Traditionally, in order to determine what services other companies are using, individuals or companies would basically have to ask around, Mokshagundam said. Siftery, here, also has an advantage because it can upfront negotiate for discounts on services — which they already often offer — that it can then serve back to its members. That, too, helps offer Siftery a pathway to revenue, Mokshagundam said. Techcrunch.com/2016/02/02/siftery-a-database-of-what-services-companies-are-using-raises-4m/
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