(Foto: Markus Winkler en Unsplash)
The venture capital fund TheVentureCity—headquartered in Miami and one of its offices in Sao Paulo— is launching a new free digital tool for all startups: Growth Scanner. It aims to provide a personalized analysis of “the true health of your product” so founders can make better business decisions and attract investors with interesting data.
According to a press release from the VC, the new platform was “built by founders, for founders, where TheVentureCity’s own data team crunches startups’ numbers to break down the crucial metrics needed to scale long-term.”
In-depth, personalized analysis
Startups that begin using Growth Scanner must upload at least six months of data related to users’ historical actions with their product to the platform.
TheVentureCity explained that its data is transformed into a comprehensive and personalized analysis of key metrics, benchmarks, strengths, and weaknesses. All in a shareable dashboard with numbers and graphs that will help visually tell your story to investors and stakeholders.
The platform focuses on retention/return, engagement, and growth accounting metrics. TheVentureCity uses this data to assess the product-market strength of a startup to give founders a better understanding of their product’s growth levers and benchmark within their industry to make smart business decisions.
Once the analysis is done in Growth Scanner, a 30-minute call is held for TheVentureCity’s data experts to provide context and answer any questions about it.
“Most young startups don’t have a data science team, nor much support when deciding how to get the most out of their data,” mentioned Laura Gonzalez-Estéfani, founder and CEO of TheVentureCity. She added that “they may only focus on revenue and user numbers when meeting with investors, data that can be exaggerated or bought, while ignoring statistics on user engagement and retention, which are the real signals that reveal the potential for hyper-growth.”
To achieve this data usage, while analyzing the transactional and usage data logs of countless startups, TheVentureCity gathered its own extensive data stack to train its data analytics technology.
Overall, with Growth Scanner, TheVentureCity is helping to clarify the unit economics of startups and show them the area they need to invest in to grow and their revenues in different geographies to know where they can move up to the next rung. It also provides advice on how to develop a data warehouse.
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