OurCrowd is investing in Scalabill.it, a company streamlining and securing proof of concept testing for major corporations and technology startups.
Four reasons why we’re excited about investing in Scalabill.it:
- World’s first marketplace for secure software pilots: One of the biggest hurdles in the $400 billion worldwide software market is finding a way to match emerging software companies with potential enterprise customers and partners. Today, software companies and enterprises rely on one-off pilots, or proofs-of-concept (POCs), in order to evaluate the potential value of a relationship: for software companies, pilots are an opportunity to demonstrate the efficacy of their solution, and for enterprises, pilots are an important tool for gaining access to new technology without the overhead or risk of a full-scale deployment. However, pilots are costly and time consuming, requiring specialized integrations with each new partner and causing a significant distraction from the day to day operations of the business. For startups, this problem is even more pronounced: they need to quickly prove themselves in a real-world application to land enterprise customers and convince investors of their value proposition.
- Massive potential market: Scalabill.it aims to solve a problem we’re very familiar with at OurCrowd. Every software company in our portfolio needs to identify potential enterprise partners or customers, get their attention, get scheduled into their development pipelines, and only then (after delays and multiple flights to HQ), have the opportunity to truly prove whether their technology can deliver. Additionally, enterprises we’ve spoken to as part of our due diligence complain of their own resource constraints. They want to be doing more partnerships and engage with top technology upstarts but they don’t have the bandwidth to manage more pilots. Scalabill.it provides a marketplace for emerging software businesses and enterprise customers to discover each other, and a proprietary one-time data integration through which enterprises can securely connect with an infinite number of pilot partners. Scalabill.it is really a high-level concept that can change the way business is conducted.
- Promising early-stage traction: Scalabill.it has a pipeline of customers interested in adopting its product upon release. Among the companies we spoke to are banks, financial institutions, insurance companies, IT companies, internet and media firms, content publishers, and cloud solution providers. The company is also in advanced stages of securing marketing, distribution, and operational partners. The company is still operating in stealth mode and plans to launch Q4.
- Expert management team: Scalabill.it is led by Toby Olshanetsky and Alexey Sapozhnikov, serial entrepreneurs who, between them, are responsible for five exits. Scalabill.it was born out of a problem the founders know well after going through numerous proof of concept projects for each of their companies. The team has deep experience in IT security, banking, R&D, and enterprise software.
Toby Olshanetsky, Co-Founder & CEO
18 years of entrepreneurial and senior management experience (CEO & board member). Diverse technology background in Cyber & IT Security, Social Networks, Mobile, SaaS and E-Commerce & Online Banking sectors
Alexey Sapozhnikov, Co-Founder & CTO
More than 20 years R&D experience, serial entrepreneur, founder of Uppspace (acquired by Forthscale) and HighTechForMe (acquired by several customers), former SAP Labs R&D Director.