How Flashpoint leveraged Dealroom’s API to improve deal quality and double conversion
- Flashpoint uses Dealroom’s API for traction-related metrics such as employee growth & revenue data of early-stage companies.
- Dealroom’s data improved the quality of deals for Flashpoints’ “just-in-time outreach” i.e. connecting with companies in their growth sweet spot when they’re most likely to be open to investment.
- Flashpoint’s conversion rate from calls to deeper dives doubled, going from 5% to 10%.
“We saw an increase in conversion of 5% to 10% from initial calls to deeper dives. More importantly, the quality of the companies we discussed as a team improved significantly. The enriched data from Dealroom enabled us to spend time where there was a real potential for a deal.”
Flashpoint’s key challenge was finding accurate early-stage data that were proxies for traction such as employee growth, revenue data, and so on.
“We wanted a solution that could provide us with accurate data on the stage of companies we were looking at. In our experience, the number of employees is a good proxy for other traction metrics, like revenue, but finding that information accurately was a struggle.” said Márton
Flashpoint found Dealroom’s comprehensive data and API to be a solution to their problem. They were particularly interested in Dealroom’s ability to track:
- Founder profiles
- Number of employees
- Revenue data
- Website traffic, etc.
Dealroom’s data helped Flashpoint determine the optimal time for outreach, enabling their “just in time” approach. By tracking indicators like the timing of the last round, Flashpoint could gauge when a company might be open to investment, making their outreach efforts significantly more effective.
“We saw an increase in conversion rate from about 5% to 10%. More importantly, the quality of the companies we discussed as a team improved significantly. The enriched data from Dealroom enabled us to spend time where there was a real potential for a deal.”