How we vetted a new product offering for a Series A computer vision startup

Project overview

A Series A computer vision startup approached First Principles with a challenge--the onsite deployment of their software for national security customers was steadily growing, but to scale to billion dollar valuations, they needed to test commercial SaaS markets.

First Principles assessed the value proposition of the offering, matched it against open commercial opportunities and began interviewing potential customers to discover fit and the correct approach. After working through a solid demo path, the project received approval and months later the company had opened up a new massive revenue stream with 100x the potential of its original market.

Client

Emerging Tech

Year

Services

Prototyping

Platform

Execution

First Principles took a four step approach to executing against this challenge:

Deeply understand how the product is already used and the precise conditions under which it is valued
Research and pattern match the closest commercial analogous markets, and propose the top three alternatives
Set up and execute meetings with key personnel who would buy from key companies in the target demographic
Tailor the demo path based on that feedback

Project results

At the end of this engagement, the company minted the beginnings of its second major market offering with sophisticated understanding of the new types of problems to solve. Further, we negotiated a strategic partnership to elevate the company's standing in this new market to earn it a seat at the table for the most sophisticated projects.

The new sales pipeline increased the company's valuation tremendously, reinvigorated the product, sales, and engineering departments, and helped to earn an innovation awards and catalyzed acquisition discussions.

Ready to start working together with our team?

Our services