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How GoHub Ventures Led Indigitall’s €6M Series A Round

How GoHub Ventures Led Indigitall’s €6M Series A Round

A few weeks ago, we announced our investment in indigitall, a SaaS solution to personalize digital communications between brands and their customers. The Series A round of 6 million euros led by GoHub Ventures counted with the participation of Boston-based Data Point Capital and the Spanish VC firm Adara Ventures.

In this article we dive deep into the process behind the investment, revealing the motivations that led to the deal.

 

How We Crossed Paths with Indigitall

About two years ago, Private Equity giant Thoma Bravo acquired UserZoom, at a $800M valuation. After some time, UserZoom’s Founder and CEO, Alfonso de la Nuez decided to move on from his leadership role and, since then, he has been helping other entrepreneurs to grow.

GoHub Ventures has had a great relationship with him for years and, during a conversation in 2023, Alfonso told us how he was giving advice to some cool founders with a fast-growing, almost fully bootstrapped, SaaS startup.

The startup was starting to pick up its growth and the founders were thinking about raising capital to expand geographies. Needless to say, it made us very curious about it (spoiler alert: the startup was indigitall).

 

What Made Us Believe in Indigitall

Beyond the standard metrics, several unique factors caught our eye when GoHub Ventures decided to lead indigitall’s Series A round. This investment memo sample offers a glimpse into those key elements:

 

1. World Class Team

Juan Carlos de la Vela and Xavier Omella were both telecom executives when they decided to start a business together around 10 years ago. They first started doing consulting work for several corporations and ended up doing some of the first in-App ads in Spain.

This led to the creation of indigitall, a product to manage enterprise-customer communications.

Both Juan Carlos and Xavier are experienced business professionals with high ambition and a validated entrepreneurial track record. They showed they were attracting great talent by having Alfonso de la Nuez on board, both as an advisor and investor.

 

2. Huge Problem with Big Market Opportunity

What they do: indigitall creates a full-stack solution to manage all communications between enterprises and customers.

The problem: Nowadays most enterprises have multiple communications channels with their customers and potential customers: apps, websites, email, social media messages, instant messaging apps (WhatsApp). For customers, this huge number of channels creates an uncoordinated, non-personalized, and almost bothering experience. For enterprises, it is impossible to understand how customers behave because data is dispersed in those many different channels.

The solution: indigitall creates an all-in-one platform that allows to manage every communication channel, analize all the data and optimize the campaigns using personalized customer journeys. It also uses AI to create messages that have better conversion rates.

 

3. Traction and Metrics

When we started analyzing the indigitall at GoHub Ventures, the startup had +160 enterprise clients in around 19 different countries and doing +400K in MRR. Amongst their clients there are some renewed names such as Real Madrid CF, Decathlon, McDonald’s or Repsol.

All this being EBITDA positive and almost fully bootstrapped. Incredible, right?

The founders were feeling such a big market pull that they couldn’t keep up onboarding new clients, and that’s when they decided to raise a Series A round and take the company to the next level.

 

4. Go-To-Market Strategy

The company started with an sales led go-to-market strategy and it has started to open new customer acquisition channels like partnerships and inbound marketing.

On a note about partnerships, indigitall recently became a Meta Business Partner —very valuable to deliver instant messaging solutions on Facebook, Instagram, and WhatsApp.

 

5. Competition and Differentiation

The marketing automation market is super competitive with huge and well-funded direct competitors like Braze, and giants like Salesforce. However, at GoHub Ventures we felt like the market is still big and there is an opportunity for underserved enterprises in Europe and LatAm.

Indigitall has been able to become a market leader in Spain and it has big potential to do the same in LatAm and other European countries. Enterprises using Salesforce have integrated indigitall in their communications processes because of its usability and all-in-one product, a really good indicator!

What also stood out for us when deciding to lead indigitall’s Series A round is how fast the startup started integrating AI in its product.

 

To learn more about indigitall’s story, don’t miss the interview below.

May 27 · 2024 Guillermo Flor VC Investor