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Companies are underperforming their full potential because they lack access to insights that enable faster growth.claim so Household goodsis a U.S.-based start-up that today announced a $2.1 million seed funding round in hopes of helping market its data and insights platform.
Houseware targets the popular Software as a Service (SaaS) sector, where businesses around the world are competing to achieve sustainable growth and overcome macroeconomic uncertainty and volatility. I’m here. “Many of his SaaS businesses are nearing maturity but lack the cross-functional data needed to make rapid progress,” said his Shubhankar, his CEO at Houseware and colleague. says his Divyansh Saini, who co-founded the business with Srivastava. “We want to give them the power to do that.”
Based in part on his own experience growing SaaS businesses, Saini’s diagnosis of the problems key decision makers need to realize growth, especially in a rapidly changing and volatile market environment. lacks quick and direct access to relevant information. In particular, the business he leaders responsible for the bottom line cannot readily get the data and insights they need to act.
Houseware says this reflects two issues. First, he argues, the data that today’s decision makers need is increasingly cross-functional. For example, the marketing department cannot see the big picture if it only looks at marketing data. You also need data from sales, product development, finance, and more. Sani then added that while some companies have set up data teams and units to tackle this challenge, businesses take time to respond to requests from users.
Houseware’s solution is to give functional teams access to cross-functional data rather than relying on data teams to create reports. In fact, the company’s name is a play on the word warehouse. “Houseware flips the typical model of waiting for insights from data warehouses,” he explains Haini.
For example, marketing executives should be able to easily access company-wide data on the go and generate the insights they need to make smarter marketing decisions. To meet that need, Houseware ingests data from all the apps and tools businesses use today. “The true identity of a user, customer, invoice, or transaction is broken down into hundreds of points in his solution tools,” Haini claims.
Houseware founders Divyansh Saini and Shubhankar Srivastava
Household goods
The company makes big promises about what the platform can do. Requests for data and insights that previously could have taken him three weeks to generate using a data team for the business can now be secured in days, Haini says. “The time to reliable insight has been dramatically reduced,” he promises. “This also means that organizations can start discovering new insights they hadn’t considered before.”
It’s still early days for the company, but Haini points out that among clients that have already adopted the platform, a third of users are already using it on a daily basis. “Revenue executives are under tremendous pressure to find their way to growth,” he says. “Metrics to run experiments and access to those insights are at the heart of this issue. Household items are becoming mission-critical.”
Investors in the company believe they are now able to take advantage of a strong start. $2.1M round led by Tanglin Venture Partners, with GTMfund and Better Capital, as well as a number of high-profile angel investors best known for their roles in leading SaaS businesses including Snowflake, Superhuman, Stripe and Zendesk house participates.
Scott Barker, co-founder and partner of GTMFund, said: “The experience of being able to run on use cases across different segments is powerful for his scaling SaaS company looking to find alpha, and even more so during this downturn.”
Houseware plans to use the seed funding to grow its customer base, grow its team, and strengthen partnerships with partners such as Snowflake.