1 x 1 = 100: Celebrating 2 Years of Community

Like many start-ups, Operator Collective began as an idea that would not leave my head. Obsessed, I would test the idea with seemingly anyone who would listen–vetting the thesis, seeking out potential supporters as well as naysayers, and unearthing insights. After countless hours, a new collaborative model for venture was born. One that required tearing apart the traditional structure and rebuilding it from the ground up to optimize for a large number of operator investors, most of whom had not invested in venture before. 

Operator Collective was always designed to be a community, not just a fund. It was constructed to bring together values- and incentive-aligned individuals whose networks didn’t naturally intersect. We sought to make venture accessible to the very people tech startups need most but who had been left out: experienced operators from diverse backgrounds who had built and scaled up the most admired companies in the world. By bringing in these highly talented but underrepresented individuals, we believed we could create a multiplier effect. We would change the tech industry from the ground up. 

It turns out that 1×1 can equal 100. This visualization of our connections data proves out that initial hypothesis

Visualization of the Operator Collective network over two years
Each dot represents a person, whether an operator LP or a portfolio company founder. With each individual who was introduced, connections immediately started happening, and our community grew rapidly. Notably, operators helped not only our portfolio companies but each other as well. 

Linking these dots, each line above represents a connection we have made: 

  • an investment opportunity
  • an introduction to a prospective customer or candidate
  • a referral for an open position, board seat, or advisor role
  • a tapped resource for diligence
  • a sharing of expertise or advice, whether about a business issue or professional one

These connections led to so many rewarding and tangible real-world outcomes: companies grew, new customers were signed, hires were made, and new bonds were forged between networks that had previously been separated–leading to yet more connections, and further growth.

Two years after our public launch, I reflect back with immense gratitude. Operator Collective would not be where it is today if not for the early supporters who signed on when this was still just an idea and for the many who’ve generously contributed every step along the way. 

My deepest heartfelt thank you to you, our community of operators, founders, co-investors, advisors, supporters, and of course the phenomenal Operator Collective team for believing in our vision and joining this journey to make the world a better place. Happiest of holidays from all of us at Operator Collective!

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more on our website or by connecting with us on Twitter and LinkedIn.

Meet Voiceflow: The force that’s democratizing conversational AI

The company: Voiceflow

Voiceflow is a visual design tool for conversational AI teams. It helps them design, prototype, and launch conversational interfaces across just about any channel—everything from those interactive voice response (IVR) phone systems we all know and (rarely) love, to web, chat, voice assistants, in-car, mobile apps, drive-thrus, and more.

Why you should pay attention 

With the prevalence of Amazon’s Alexa, Apple’s Siri, and all the rest, conversational AI is everywhere. It now powers trillions of conversations every year for things like customer support, simple transactions, and information gathering. All types of companies—not just tech giants—are investing in a new generation of conversation designers to help them meet user expectations, reduce costs, and extend their brand persona with innovative, flexible experiences.

In fact, the voice assistant application market is projected to grow to $11.2 billion by 2026 while the global conversational AI market size should reach $18.4 billion in that same time. However, traditional tools in this space were developed for designing automated call flows in 90s-era call centers. Their overly complex approaches simply didn’t cut it once COVID sent every consumer brand scrambling to reinvent and launch new digital experiences last year.

The details 

Voiceflow recognized this problem early on and created a modern creative platform in 2019 to help conversational AI teams work together, design great conversations, and iterate quickly. This year, over 80,000 designers, developers, and teams—at businesses like McDonald’s, Google, Spotify, Ford, Motorola, Amazon, BMW, and US Bank—generated more than 550 million conversational interactions using Voiceflow. It’s helping unify their design and prototyping workflows so they can easily launch banking assistants, IVR experiences, entertainment applications, games, support bots, and other live experiences for end users.

How it works

Voiceflow empowers teams to design, prototype, and launch chat and voice bots across channels like IVR, messenger, Alexa, Google Assistant, and web chat. Conversational AI designers can use Voiceflow’s intuitive, drag-and-drop visual editor to connect steps and blocks together and create sophisticated conversation designs in minutes. The system also provides shared team workspaces, auto-syncing and versioning, reusable components and templates, and omni-channel management tools.

Screenshot of in-car assistant conversational AI flow

This gives people at every level of technical expertise a visual way to build, test, and manage great conversations. Some customers also leverage Voiceflow’s open source API to support their full design-to-development pipeline for launching and actually hosting conversation experiences across any channel.

Why we’re obsessed

Voiceflow is on a mission to democratize conversational AI by creating a modern collaboration platform for these interfaces. And it’s working. The market is growing exponentially and more people are dedicating their careers to the space (Voiceflow’s user base grew by 60% this year alone). Conversation designers love having Voiceflow in their tech stack because it is legitimizing the tactics, methodologies, and industry standards for conversation design.

Customers like Home Depot have touted amazing results, such as scaling user testing from 12 tests to 300 in one week. In addition, Voiceflow has cultivated an active global community of 8,000 (and growing) conversation designers who now have a forum where they can connect with each other, up-level their skills, swap best practices, or recruit top talent in this emerging discipline.

Voiceflow’s origin

Company founders Braden Ream, Andrew Lawrence, Michael Hood, and Tyler Han joined forces back in 2018 to create a fun choose-your-own-adventure children’s stories app for Alexa, but quickly pivoted when they realized how difficult it was to collaborate in the world of nonlinear conversations. Their timing couldn’t have been better, since the pandemic brought these types of high ROI, socially distanced customer experiences to the top of every CTO’s priority list. And as the company has scaled rapidly to meet this demand, its founders are building a diverse, global team with a culture of creativity, curiosity, and owners.

Get involved

If you have a conversational AI team that could benefit from easier collaboration, be sure to have them check out Voiceflow to start building for free.

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more on our website or by connecting with us on Twitter and LinkedIn.

The ins & outs of SaaS metrics: Finance leader Christina Ross on revenue retention

With all the acronyms being thrown about, you may be left wondering which SaaS metrics are the best indicators of performance? Which ones do investors focus on? Christina Ross, CFO turned CEO/co-founder of Cube, not only analyzes these metrics for her own business, but brings decades of finance experience to the task of automating and optimizing strategic financial planning and analysis for other companies. 

In this blog series, we’ll hear firsthand from Christina about how to calculate and interpret the most helpful measurements of enterprise software success. To start off, we asked her about two metrics that help businesses measure customer retention and growth: gross revenue retention and net revenue retention.

At a high level, what is revenue retention and why does it matter?

CHRISTINA: Revenue retention is a measure of how much revenue a business keeps from the same customer base over a certain time period. You can track it by month, quarter, year, week, or even day. 

One important note is that revenue retention only refers to existing customers. Acquiring a new customer—and the associated revenue they bring in—can be 5 to 25 times more expensive than retaining one (in terms of time, resources, and finances). Thus, revenue retention is a good measure of sustainability and profitability. Customers with reliable revenue retention have a stable runway and are more profitable in the long run.

Can you get the same insights by tracking customer or logo retention?

CHRISTINA: Not all customers are created equal. One customer might constitute 30% of a company’s revenue while another just makes up 0.05%. Losing any customer hurts, but those that represent a greater share of revenue will hurt a lot more. Tracking revenue retention alongside customer retention can help you get the full picture, especially when you look at both gross revenue retention (GRR) and net revenue retention (NRR). 

What exactly is gross revenue retention (GRR) and why is it important to track? 

CHRISTINA: Gross revenue retention is the percentage of revenue a business retained from the start of a specific period. It shows how successful you’ve been in retaining customers at current price points or contract values.

GRR = (MRR – Churn – Contractions) / MRR

MRR is your monthly recurring revenue at the start of the month, churn is the amount lost (in dollars) to customers who are no longer customers, and contractions is the amount lost from customers who downgraded to a less expensive plan. Even if you earn new sales or upgrade revenue in a given month, this formula looks only at revenue retention as opposed to acquisition. The closer GRR is to 100%, the better. That said, this depends on your customers’ size, since higher churn is often expected from SMBs. 

If GRR is low, it could signal a few problems with your business’ health. For example, you might not be solving the right problem. People won’t stick around if the problem you’re solving is too small to warrant your price for the solution. Other issues might be that your customer experience is frustrating, or your customers simply don’t use the product enough. If people only log in once a month, you’re not building trust or loyalty with them.

How is net revenue retention (NRR) different?

CHRISTINA: GRR doesn’t account for new customers or expansions. It only looks at what you started with and how much you’ve lost, while net revenue retention (also known as “net dollar retention” or NDR) is the total change in recurring revenue. It tracks both your business’ ability to retain and acquire revenue from existing customers.  

NRR = (MRR + Expansions – Churn – Contractions) / MRR

As you can see, what’s different here is that we’re accounting for expansions, or the new money a group of customers have spent with your business. Even though NRR is a growth indicator, it’s still a retention metric, so we don’t include new sales. NRR measures how well a business’ cross-sell and upsell strategies are working.

Experts say a good median NRR for private companies is 104%, and generally NRR > 100% indicates growth, while NRR < 100% indicates decline. Businesses with high NRR are offering the right things customers need as they grow. On the other hand, when NRR is consistently low, this should sound alarm bells. It could mean the company isn’t offering the right upgrades to incentivize customers to move up the value ladder. Maybe the customer success experience is frustrating, or there’s not enough brand loyalty to prevent switching.

What does the combination of GRR and NRR tell us?

CHRISTINA: The best insights come from cross-referencing NRR and GRR. SaaS companies that have both high GRR and high NRR are in a great place and can focus on acquiring new customers. But if you have high GRR and low NRR, it means you’re good at keeping customers, but need to get better at selling to them again, perhaps by rethinking the upgrades you’re offering. And if you have both low NRR and low GRR, there are likely some larger underlying issues that need to be addressed quickly. This might require you to radically invest in customer support or take a hard look at the problem you’re trying to solve.

If there’s a problem with GRR or NRR, how can we improve these metrics?

CHRISTINA: At the end of the day, people are the ones who make the decision to churn or not. So while we might calculate revenue retention metrics separately from customer churn, in practical terms, there’s no separating them. When it comes to increasing GRR, the best strategies focus on keeping your customers involved and happy—improving the overall customer experience, building trust, or adding more integrations. 

Much of this will indirectly improve NRR as well, because it reduces churn and contractions. If you want to double down on NRR, focus on expansions—improving customer service, refining your value ladder, or adopting a customer expansion strategy. All of this can be informed by cohort analysis, which might help you hone in on what you need to do to better support the specific customer groups that are responsible for the majority of your churn.

Of course, don’t forget that these revenue metrics only look at existing customers, so it’s best to combine them with other KPIs for a full picture of what’s happening in the business. GRR doesn’t account for any growth and NRR may obscure and cloak a churn problem. To learn more about these and other important SaaS metrics, check out our recent blog post on GRR and NRR.

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more on our website or by connecting with us on Twitter and LinkedIn.

Why we’re amped about Amplitude

There was a time it felt like everywhere we turned, someone was telling us to take a look at Amplitude. This was coming not only from our network of Operator LPs at larger enterprises, but also startup founders in our portfolio. Folks were raving both about how Amplitude’s analytics platform provides step-by-step data on the performance of a digital product, as well as how particularly thoughtful and values-driven the Amplitude founders are. When we met co-founder and CEO Spenser Skates, we knew we wanted to be a part of Amplitude’s journey.

The company: Amplitude

Amplitude is the first unified product analytics system that brings together an entirely new depth of customer understanding with the speed of action needed to optimize experiences in the moment. A pioneer in digital optimization, its software enables organizations to see and predict which combination of features and actions translate to business outcomes — and then intelligently adapt each digital experience based on these insights.

Why you should pay attention 

In a pandemic world, companies no longer have much of a choice about whether to invest in digital transformation — they need amazing digital products in order to survive. Even before COVID-19, analysts were predicting that companies would deploy over 500 million digital apps by 2023. They’re now expecting 65% of the global economy to be digitized by next year. And the next frontier of digital transformation is digital optimization.

Although the revenue center for most companies is shifting from sales and marketing to product, many of the teams building these products still rely on their intuition to analyze performance. That approach just doesn’t cut it anymore. In order to keep up with the pace of disruption in our more digital-than-ever landscape, product teams require a fundamentally new approach. They need 360-degree insight into the entire digital experience. Only then can they make data-driven bets that transform customer value. Enter Amplitude’s digital optimization system.

The details 

Amplitude has changed the game for more than 1,200 organizations, including B2B software companies such as Atlassian, Intuit, and Hubspot, as well as consumer brands like Twitter, Walmart, Instacart, and Spirit Airlines (along with 26 of the Fortune 100). Its digital optimization system is the “Moneyball” brains behind 45,000+ digital products. Amplitude’s software helps these teams innovate faster and smarter by giving them fine-grained performance data that goes way deeper than the basic ad clicks and page views of previous decades. 

It shows them exactly how specific combinations of features and user actions translate to customer retention, loyalty, lifetime value, and other business outcomes. With this data, they can make strategic decisions — like whether to launch a big feature or change a distribution channel. They can experiment, see what’s working and what isn’t, and make changes to their product based on real-time behavior.

How it works

Amplitude’s platform tracks 900 billion customer behaviors each month in a privacy-conscious way. It aggregates all this data and uses machine learning to segment users, predict outcomes, and uncover relevant patterns throughout the digital journey. For example, Amplitude’s product analytics help teams find ways to quickly reduce friction and double-down on features that increase revenue. Earlier this year, the company also launched new solutions to help product and marketing teams easily personalize digital touchpoints and test experiences with key segments.

All of these solutions are powered by Amplitude’s proprietary behavioral graph, which was invented by company founder and chief architect, Jeffrey Wang. Built for the complexity of modern digital products, its native query engine and machine learning algorithms correlate every individual action taken across a digital product to understand and predict which behaviors are indicators of certain outcomes. 

Amplitude’s origin

Amplitude was founded in 2012 by former MIT alums (and Battlecode competition opponents) Curtis Liu and Spenser Skates, along with Stanford grad Jeffrey Wang. Curtis and Spenser had actually taken a stab at another startup (a voice recognition app called Sonalight) before that but decided it was a little too early for its time. However, they realized the product analytics tool they had built to better understand how customers were using Sonalight could actually be more valuable. Clearly, they were right about that, and Amplitude has been a rocketship ever since, culminating in a successful direct listing last month. 

Get involved

To find out more about Amplitude’s digital optimization system, explore its product demo or customer stories. And while you’re there, it’s worth a look at the company’s many career opportunities

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more on our website or by connecting with us on Twitter and LinkedIn.

Supercharge sales productivity with an all-in-one “Scratchpad”

Meet Scratchpad, the digital workspace that puts an intuitive interface on top of Salesforce

The company: Scratchpad

Nearly all account executives use Salesforce, but most of their work is done in other places such as spreadsheets, note-taking apps, task managers, and calendars. This leaves data spread across tools and apps that never finds its way back to the organization. Scratchpad is the first workspace built for sales to solve this problem. It combines everything a rep needs for their daily work in a single intuitive interface. In less than 30 seconds, revenue teams can set up Scratchpad and start improving their data flows and forecasts to consistently attain quotas. 

Why you should pay attention 

While Salesforce is a powerful database, it doesn’t make it easy for day-to-day users to stay organized, manage meetings, update and share sales notes, follow through on next steps, set tasks, or collaborate. Instead, many AEs hack together general-purpose tools that usually remain completely siloed from each other and the system of record.  

With dozens or hundreds of tasks each day, every click matters. On average, sales professionals spend only about a third of their time selling. By eliminating duplicative data entry, Scratchpad helps AEs spend more time doing what they do best: selling. And because it’s seamlessly connected to everything they need in Salesforce, Scratchpad transforms CRM from tedious to delightful.  

The details 

Scratchpad empowers sales reps to do their best work by reducing the number of hoops they have to jump through to get their work done. With this modern workspace, AEs, account managers, and sales engineers at great companies like Algolia, Autodesk, Lacework, Productboard, Segment, Snowflake, Splunk, and Twilio are reducing drag in their sales organizations and helping more reps attain or surpass their quotas.

Scratchpad’s founders recognized early on that CRM was at the center of most revenue teams and always would be, so they thoughtfully designed every feature and interaction with front-line reps in mind. The solution is all about bringing Salesforce to where AEs need to be (whether in their calendar, email, anywhere on the web, or other sales tools) in ways that fit their existing workflows and help increase adoption of the CRM system.

How it works

Scratchpad brings a salesperson’s notes, tasks, customer context (including emails, calendar events, and activity history), spreadsheets, Kanban boards, search, and collaboration tools into one simple view. With this suite of tools, reps have everything they need to manage their day just one click away, so they’re no longer bouncing back and forth from a calendar, to a note-taking app, to tasks, and then to Salesforce. 

Users can quickly and easily update important fields for each opportunity, link their notes, create tasks or contacts, and view contextual data from Salesforce — all from Scratchpad tools embedded into their existing apps. For instance, with the product’s most recent update, they can launch Salesforce data directly from a calendar event view so they always have the full picture they need in order to take action. 

Why were obsessed 

We’re crazy about Scratchpad because the team recognizes that sales is a craft and reps are people like everyone else. Rather than painstakingly updating records, their time should be spent on moving deals forward, building customer relationships, and quality family time! Scratchpad is turning the notion of “boring” enterprise B2B tools on its head and bringing joy and delight into what can be an emotionally taxing job. This means sales managers get better visibility into pipeline health so they’re more efficient with coaching, and revenue operations leads no longer have to rely on best guesses for forecasting. 

Scratchpad’s origin

Serial entrepreneurs Pouyan Salehi and Cyrus Karbassiyoon co-founded Scratchpad in 2019 after observing the challenges salespeople were experiencing in their day-to-day workflows. The pair had previously co-founded another sales technology company, PersistIQ, where they developed a deep understanding and appreciation for the work of a salesperson and the challenges of working within a sales organization. 

Get involved

If you’re interested in learning more about Scratchpad, install its Chrome plugin or sign up for the web app in less than a minute, listen to the team’s Beyond Quota podcast, or check out the company’s many job openings.

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more on our website or by connecting with us on Twitter and LinkedIn.

Our virtuous cycle: when operators do venture

I had ulterior motives for starting Operator Collective back in 2018. 

Sure, the core idea was always to bring together as limited partners (LPs) active operators from diverse backgrounds who had built the world’s most admired companies. They have the very expertise founders need as they grow and scale their companies, and the most relevant contacts with both potential customers and future employees.

They also bring their operating talent and outsider perspectives to shake up the venture world. After all, what operators do best when they see a problem is come up with a solution, and then execute the hell out of it.

Even though these incredibly talented executives are critical to the success of startups, they have largely been left out of the venture world. Traditional venture is rigid, competitive, and not team-oriented. It’s just not friendly nor particularly appealing to operators—especially in the case of our Operator LPs, 90% of whom are women and 40% people of color. The doors to venture have long been inaccessible to people from underrepresented groups.

Leyla Seka has always called herself an accidental venture capitalist. She first joined Operator Collective as a founding LP while still an EVP at Salesforce. She famously built and scaled the AppExchange, launching thousands of startups along the way, and was the first to champion equal pay, setting off the wave across the tech industry and beyond. After leaving Salesforce, Leyla was considering CEO positions as her next move. When I asked whether she’d be open to help build Operator Collective, I’m grateful she agreed to come on board.

Operator Collective was created, among other things, to serve as an anchor for active operators at the top of their game to engage in venture in a way that is collaborative and flexible, with aligned incentives. A place where they could not only continue to operate or ponder their next career move, but contribute to what we’re building, deepen their investing acumen, and have a supportive community of operators. Oh and have fun along the way.

Enter the virtuous cycle. I share with mixed emotions that Leyla is returning to a full-time operating position as COO of Ironclad.

She’s also transitioning to a new Operator Collective role as Chair of our Board of Advisors. Leyla joins Erica Ruliffson Schultz, Stacy Brown-Philpot, Claire Hughes Johnson, Tekedra Mawakana, and our newest Board member, Elena Gomez (welcome Elena!). I’m thrilled Leyla will remain a close part of the Operator Collective community, leading this group as they advise me, Operator Collective, and our portfolio founders.

Our model was designed to include active, current operators. Operator Collective and the venture world are better off today because Leyla Seka brought her operator lens to all that she learned about venture, and then ran with that knowledge to create a better ecosystem. Her substantial understanding of the enterprise software world helped Operator Collective make better investing decisions, and she leveraged her years of experience advising AppExchange startups to support our portfolio founders on how to scale.

One of these companies, of course, is Ironclad, which has built an extraordinary and beloved digital contracting platform. Working closely together for almost three years, Leyla and CEO Jason Boehmig very quickly developed a special bond, and it became apparent that she was uniquely situated to vault Ironclad forward in a way no one else could. Closing the loop on our virtuous cycle, Leyla is returning to her operator roots as Ironclad’s COO.

She has already made a huge impact on the industry, and she’s just getting started. Her relationships, outsider’s view, and execution also led her to create a long-lasting and game-changing institution called the Black Venture Institute, with a goal to increase the number of Black checkwriters in venture. This curriculum-based program has graduated 100+ fellows, including eight Operator LPs to date.

Leyla, my friend, I couldn’t be more grateful for all that you’ve contributed to building the heart, soul, and engine that is Operator Collective. Nor could I be more proud of how you took on the venture world and made lasting change during your time as an accidental venture capitalist. I can’t wait to see what you do next and am excited to be right by your side as you keep shaking it up.

Searchlight: Unearthing new insights to hire top performers

Searchlight team

The company: Searchlight

Searchlights performance-driven hiring platform helps companies leverage references to scale winning cultures. The company’s scientific reference assessments evaluate candidate competencies and working styles in a way that is faster, more accurate, and less biased than interviews. Over time, Searchlight’s talent analytics create a dynamic model of a company’s top performers. This closes the loop between recruiting and hiring outcomes, and teaches organizations how to improve diversity and quality-of-hire.

Why you should pay attention 

Boards always ask their CEOs and leadership teams: “How do we know we’re hiring the best talent?” There’s been no data-backed way to answer this question, until now. Searchlight is built by operators for operators who recognize that measuring and improving hiring quality is a competitive advantage.

Forty-six percent of all hires fail within their first 18 months, costing an organization 1.5-2X their salaries in compensation, lost productivity, and missed deliverables. Teams that rely solely on credentials and interviews are unable to get the full picture of a prospective hire before making their decision. While interviews aren’t predictive, feedback from prior colleagues can be. References, if used correctly, are a secret weapon to hiring better and building a structured trove of data to drive a vast array of smarter talent decisions.

The details 

Searchlight’s solution starts with a reimagined reference check process that is predictive and easy-to-use. The platform assesses candidates objectively, putting greater emphasis on reliable indicators of top performers like real-world feedback on strengths and weaknesses that might not come through in a resume or interview. Searchlight’s visually compelling reports deliver consistent, structured, and honest data that changes the way companies make hiring decisions.

Using Searchlight, companies like Zapier, Discord, TalkDesk, Coda, Snapdocs, and Udemy are saving thousands of hours, reducing time to hire by 45%, improving their quality-of-hire by more than 20%, and increasing the number of hires they make from underrepresented backgrounds. But the team is just getting started. Beyond references, Searchlight aligns recruiters and hiring managers and surfaces predictive recommendations for future hiring. With verified data on historical hires over time, the software suite provides intelligence at both the start and end of the hiring process, so it can continuously improve hiring outcomes.

Why we’re obsessed 

In order to create a more diverse and equitable future, companies need to rethink traditional approaches to hiring. Thankfully, there’s still tons of untapped potential in the recruiting process, especially around talent intelligence. Searchlight provides both the data and analytics to help recruiting teams hire more top performers—without adding steps to the recruiting process. 

The key to merit-based hiring that moves the needle for diversity is uncovering new data points (outside of credentials) that offer a holistic understanding of a prospective employee, and then tying them to real performance outcomes. We believe Searchlight will set a new standard for companies serious about hitting their diversity targets and increasing talent density.

Searchlight’s origin

First-generation Asian American twins Anna and Kerry Wang decided to create Searchlight soon after they graduated from Stanford, with bachelors and masters degrees in computer science and artificial intelligence. During their own job searches, they saw several shortcomings in how organizations evaluated their (nearly identical) resumes—noticing that the unique competencies, working styles, and strengths that set them apart were overlooked. 

Natural entrepreneurs, they set out to fix that by making references a central part of the hiring process and started out their journey with Y Combinator. They’ve since been recognized on the Forbes 30 under 30 list

Get involved

Curious to see what your next reference check will find? Join Searchlight’s candidate waitlist so you can set up your own profile. If your company is hiring, give Searchlight a try and let us know what kind of difference it makes.

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more on our website or by connecting with us on Twitter and LinkedIn.

 

If you do benefits, you need Noyo

The company: Noyo

Noyo is the company transforming data exchange across the insurance ecosystem by delivering the universal API for embedded benefits. By building the connections gateway that allows for fast, accurate, and secure data exchange, Noyo is helping benefits software companies and insurance providers deliver next-generation benefits experiences to their customers. 

Why you should pay attention 

Co-founders Shannon Goggin (CEO) and Dennis Lee (COO) are leading a team that’s powering the age of connected insurance, where it’s as easy to access benefits as it is to connect to a bank account or make a payment online. Leading insurers including Unum, Humana, Ameritas, Beam, Principal, Sun Life, and Brella are using Noyo APIs to power their data exchange and meet the demands of the digital age. The industry’s most innovative benefits software platforms, including Zenefits, Rippling, Namely, and Sana, are using Noyo to deliver a new era of seamless benefits experiences. But the biggest beneficiaries of Noyo’s innovation are the people that these companies serve, consumers who can now expect insurance data to move freely, giving them easy access to the benefits they need, when they need them. 

The details 

Noyo’s APIs for benefits administration cover the entire lifecycle of a policy. APIs for member enrollment changes facilitate sending transactions, receiving confirmations and automating accuracy. The  verification API helps principals confirm enrollment status for any member at any time. And the Noyo 360 end-to-end APIs bring benefits full circle by streamlining installation and renewal. Noyo has delivered a fast, intuitive developer experience that lets leading insurers and benefits platforms redefine what’s possible for open enrollment as they transform their digital strategies and accelerate growth. 

Why we’re obsessed 

Health insurance is a trillion-dollar industry running on disconnected and outdated systems. Technology is reshaping how people engage with health insurance, with a new generation of software emerging to modernize how people shop for, enroll in, and manage their coverage. Behind the scenes, though, insurance is administered by a tangle of disconnected systems stitched together by manual processes. Noyo is upending this status quo by building the infrastructure that will power modern insurance distribution.  

Get involved

Whether you’re building, upgrading, or scaling a benefits offering, Noyo can help you get there. Want to lead in the age of connected insurance? Get started with Noyo

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more on our website or by connecting with us on Twitter and LinkedIn.

Make your SaaS portfolio more Productiv

The company: Productiv

SaaS is everywhere these days. But the awesome proliferation of SaaS applications has also added an intense level of complexity to our tech stacks. Enter Productiv, a SaaS Management Platform that gives IT leaders unparalleled visibility and control of their app portfolios. The platform provides a unified view of SaaS apps, enabling smarter renewal decisions, more intelligent license allocations, and stronger application adoption. With Productiv, businesses are improving the employee software experience by maximizing application value and containing risk within sprawling IT portfolios that can involve hundreds, if not thousands, of apps. 

Why you should pay attention 

Some of the world’s most innovative companies including Uber, Zoom, Okta, Box, and many more are using Productiv to enhance their SaaS planning and governance. Typical customers see 30% in cost savings on renewals thanks to the detailed software usage and engagement data provided by Productiv platform. Productiv customers have used the platform to discover that a typical 43% of apps used in the organization are shadow IT. On average, Productiv saves companies 38 hours weekly across IT teams. 

SaaS is vital to every modern business. As the number of SaaS apps continues to grow, so do the challenges IT has in managing them. Productiv is giving companies new ways to keep their SaaS portfolio under control, stay agile, save money, and make transformational decisions.  

How it works

Productiv gives businesses details about application engagement — everything that happens after the employee logs in. This allows IT leaders to see and analyze exactly how applications are being used. These insights can also be easily surfaced to IT’s business partners across the organization, delivering a single source of truth to stakeholders across the company. Productive equips leaders with actionable insights and smarter recommendations to strategically negotiate upcoming renewals, seamlessly allocate existing licenses, and improve employee engagement.

Why we’re obsessed 

While precise estimates of the SaaS market vary, everyone agrees on this: it’s worth hundreds of billions of dollars and it’s experiencing double-digit growth. Productiv co-founders Jody Shapiro (CEO), Munish Gandhi (COO), and Ashish Aggarwal (CTO) have built an incredible workplace that has attracted a stellar team — including alumni from leading innovators like LinkedIn, Facebook, Google, Slack, and Amazon — to deliver a data-driven platform that helps IT leaders get a handle on their enterprise SaaS portfolios. The company has built a powerful solution and is already seeing incredible traction with analyst accolades and a customer roster full of A-listers who love the product. 

Get involved

It takes 10 minutes to set up SaaS Management with Productiv. Unify your sprawling portfolio, simplify operational workflows, and get the intelligent data you need to unlock employee productivity. Get started now for free.

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more on our website or on Twitter and LinkedIn.

 

Taking employee benefits to a whole new Level

The company: Level

Level is helping companies and their employees get the most out of their dental and vision benefit dollars by rebuilding insurance from the ground up. Simple plans, flexible networks, and instant claims mean companies can provide bigger employee benefits for less. Employees get more freedom, choice, and clarity in billing. And healthcare providers see claims processed in hours, rather than months. Level is changing the benefits game, and it’s giving everyone plenty to smile about in the process.  

Why you should pay attention 

Employee benefits are vital to attracting and retaining top talent and the traditional insurance model most companies use to deliver benefits is slow, confusing, and always ends up costing both companies and their employees more than expected. Level is disrupting legacy models with a modern approach for people-first companies. Now, getting the most out of vision and dental benefits, understanding what they cost, and paying for them is simple, clear, and fast for Level members. No more paperwork and bills in the mail. It’s a new model, and it’s all in the Level app.  

The details 

Founder and CEO Paul Aaron was one of the first employees at Square and holds numerous patents in the payments space. Level is making paying for vision and dental benefits as easy as any other purchase. Companies like Intercom, Udemy, and Docker are seeing savings as they give their employees lots more benefit flexibility and choice through their Level membership. First Round Capital saved 47% while bringing bigger benefits to their team. Thistle saved 41%

How it works

The Level app puts employees in control. Level members manage their own benefits with transparent costs and a continuously updated individualized benefits balance. Level members can find and visit any provider, and can easily compare in- and out-of-network prices before deciding where to receive care. The app sorts out all the paperwork before the member arrives for the first appointment, and lets members pay on the spot for any out-of-pocket copays during check out. 

Why we’re obsessed 

We’ve witnessed the modernization of virtually every aspect of the workplace in recent years. Yet benefits and insurance, which are among the top incentives companies have to land and keep the best employees, has yet to transform — until now. Level is revolutionizing the employee benefits experience. It’s driving simplicity, efficiency, and value into the system for employers, employees, and healthcare providers. This space is ripe for disruption, and Level is the company out front driving it.  

Get involved

Partner with Level to offer modern dental and vision employee benefits at your company. Get a demo to learn more. You might also want to check out their open positions here.

We believe culture, diversity, and operational excellence are a key part of building truly great companies. Learn more on our website or by connecting with us on Twitter and LinkedIn.