Getting funded by venture capitalists seems lucrative, but not all startups are looking for such funding opportunities. Start-ups that are initiated and still make a name for themselves are worth their efforts.
There have been a good chunk of successful Martech start-ups around the world, which have made a mark in the industry and are now growing at a rapid pace. Let’s first understand what Bootstrapping is.
Seeding occurs when an entrepreneur starts a small business at low cost and is not dependent on any investor. Bootstrap businesses are often created and built with owner’s money. Several start-ups are built using a bootstrap model. Some of the most successful tech companies like Dell, eBay, Cisco Systems, Oracle and Microsoft were primed.
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Some other successful martech startups that are being initiated:
Aweber is a popular email marketing and automation platform. They have their own niche as they target time-strapped content creators, small business owners, and entrepreneurs. Capturing their niche audience has been one of the success factors of the MarTech platform.
The company was founded in 1998 and today has a team of over 100 people. Their annual sales amount to $ 19.9 million.
2. Mobile monkey
Can you believe the world’s best chat marketing platform has been launched?
MobileMonkey is an omni chat platform to connect with customers on various messaging platforms including Instagram DM, Facebook Messenger, website chat, SMS, etc.
The platform was founded in 2017 when the founder saw the need for a product that allows brands to connect with their audience.
He gathered his founding team, raised a seed fundraiser to put the available money in the foreground. To date, the platform’s annual revenue is around $ 4.2 million per year.
The oldest Indian start-up, has become one of the first unicorns in the world without external funding.
Launched in 1996, Zoho was a CRM offering for businesses and brands. As a direct competitor to Salesforce, Zoho has moved forward with two different tactics:
- It was offering a freemium to entice customers to switch to their full line of marketing products.
- It offered products at lower costs than other similar companies in the market, especially SMEs.
The product took a while to gain traction in the market, but once it developed, its growth skyrocketed. Zoho has an estimated revenue of around $ 610 million and its market valuation is between $ 5 billion and $ 15 billion. (It is a private company and therefore, it is difficult to provide the exact calculation).
The founder of the company made sure to devote 50% of the profits to R&D and this is how the company has been able to remain autonomous until today.
Amid email newsletters, this Atlanta-based marketing startup Mailchimp has grown into a giant. Chances are, we all get emails through Mail Chimp every day and don’t know it.
Initiated with a Bootstrapped dream, Mail Chimp has an annual turnover of around $ 700 million. Co-founders Dan Kurzius and Ben Chestnut started this business in 2000 after being fired from their web design jobs. They focused their efforts exclusively on the company and their dedication began to pay off after 2017, when the start-up won the 2017 Company of the Year award.
Even today, the company is 100% owned by its founder, which is a great achievement.
Atlassian is one of Australia’s top performing startups. Founded in 2012, it has built itself in competition with some of the tech giants like Trello and Jira.
One of the main features of this platform is a project monitoring software that has been integrated into its DNA. Additionally, the platform continues to upgrade its smart and intuitive sales systems that require a limited or no manual sales team.
The company was started and its growth exploded by offering free trials to users. Very quickly, the company increased its income in the country thanks to word of mouth.
Most of the money came from personal funds and they raised external funds to attract more board members.
Today, the company’s current valuation is approximately $ 48 billion.
These are just a few start-ups that started with a seed model and built huge companies without chasing investor money. It will be exciting to see how the tech startup niche evolves in the future and how many of them stay primed for the long term.
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