Here’s the application that got InEvent into Y Combinator.
Company url, if any:
If you have a demo, what’s the url? For non-software, demo can be a video.
(Please don’t password protect it; just use an obscure url.)
Describe your company in 50 characters or less.
Enterprise all in one event marketing SaaS
What is your company going to make?
InEvent is the Salesforce for events. Our end-to-end marketing solution simplifies trainings, events and travel logistics with cloud technology.
InEvent is an all in one platform that allows you to use multiple solutions (website, registration, mobile app, hospitality, check-in, badge printing, budgeting, etc) altogether, without having to upload data 3-4x times on different pages.
Everything is available on the cloud, 24×7, for you and your attendees. Most of our competitors have modules that don’t talk with each other, we solved this by creating a solid foundation that all of our solutions are built upon.
We have already successfully improved more than 12,400 events, boosting more than 2,390,000 registrations so far. We have integrations with Salesforce, Marketo, Oracle, Microsoft, and other vendors to create a simple, easy-to-use marketing ecosystem for all our customers.
Which category best applies to your company?
Is this application in response to a YC RFS?
Where do you live now, and where would the company be based after YC? (List as City A, Country A / City B, Country B.)
We live in São Paulo/Brazil. The company will be based in the US: TX, CA, or NY.
Email address of the founder who is filling out this application:
Please provide the email addresses of the other cofounders in the startup. No need to add yours again. Founders must have at least 10% equity in the company. We will send an email to each founder to fill out additional information about themselves.
Email Addresses of Cofounders
Please enter the url of a 1 minute unlisted (not private) YouTube or Youku video introducing the founders. (Follow the Video Guidelines.)
Please tell us about an interesting project, preferably outside of class or work, that two or more of you created together. Include urls if possible.
Yes! We won a global hackathon in Miami! See this report: https://www.linkedin.com/pulse/hacking-startups-growth-globally-pedro-g%C3%B3es/
How long have the founders known one another and how did you meet? Have any of the founders not met in person?
We met in College, in Brazil, in 2011. University of São Paulo as engineer students. We have been colleagues and then working together for more than 8 years now. We are very direct, very transparent and we discuss everything between us.
How far along are you?
We have an ARR of 1,1 million USD dollars. We are growing 120% per year. We have 30 people working with us. We have customers in 12 countries. In the last 12 months 85% of our customers buy upsells or renew.
How long have each of you been working on this? Have you been part-time or full-time? Please explain.
Full time for 4 years, all 3 founders. We will hit 5 years on November 4th, 2019. We have a commitment to work on this at least until 2030 or 1 billion in revenue, whichever comes first.
Which of the following best describes your progress?
How many active users or customers do you have? If you have some particularly valuable customers, who are they?
45 active customers, 250 customers on our whole history (in the beginning, we had a lot of one time events). Each customer pays an average of about 25,000 dollars per year. Our largest contract is 212,000 dollars per year. We currently have customers in India, China, Singapore, USA, Belgium, UK, Netherlands, Chile, South Africa and Brazil. Our best customers are Embraer, Santander and XP. We are very proud of them because they are global – they use our product in multiple countries – and being global is our vision for 2030. Other known customers that we have are Coca-Cola, Amazon, Bosch, Bayer, KPMG, Honda, DuPont, Ely Lilly and Carrefour.
Do you have revenue?
What was your revenue in the last full calendar month? (Please use USD. If none, enter ‘0’)
Your revenue 2 months ago?
Your revenue 3 months ago?
Your revenue 4 months ago?
Your revenue 5 months ago?
Your revenue 6 months ago?
Anything else you would like us to know regarding your revenue or growth rate?
our revenue is better calculated per year:
2015 – 39,000 USD
2016 – 225,000 USD
2017 – 696,000 USD 2018 – 1,151,000 USD
How much money do you spend per month?
How much money does your company have in the bank now?
How long is your runway? (e.g. 5 months)
If you’ve applied previously with the same idea, how much progress have you made since the last time you applied? Anything change?
We applied in 2015. At that time we had just started and we had only 8,000 dollars in ARR Since then we have increased our revenue to more than one million dollars.
If you have already participated or committed to participate in an incubator, “accelerator” or “pre-accelerator” program, please tell us about it.
Yes, we participated in Lisbon Challenge pre-accelerator program for 3 months. They did not take any equity.
Why did you pick this idea to work on? Do you have domain expertise in this area? How do you know people need what you’re making?
We saw how enterprise software is slow and bulky and outdated. We selected events and marketing, but we could work with anything related to enterprise software. We believe there is a long term opportunity here to build a billion dollar marketing and events CRM platform.
What’s new about what you’re making? What substitutes do people resort to because it doesn’t exist yet (or they don’t know about it)?
So far there are a lot of platforms that do one part of the job: there are mobile apps for events, there are registration systems, there are check-in systems, but they are not all in one, they don’t have compliance such SOC 2 or they are not global language, time zone and currency compatible. Today people resort to Microsoft Excel (yes, I know).
Who are your competitors, and who might become competitors? Who do you fear most?
Cvent and etouches and splashthat. splashthat is the newest one (founded 2012) and they have raised 10 million USD, but our biggest fear is us not being able to meet our potential.
What do you understand about your business that other companies in it just don’t get?
The integration between parts. People think that their system is so special for the customer. The current enterprise now has more than 35 SaaS solutions, your solution is just part of a bigger thing. So make your best effort to connect well with the other 34 or so SaaS platforms. Data should flow easily within the org.
How do or will you make money? How much could you make?
By charging our customers. Our largest competitor, cvent, makes 260 million dollars per quarter. We believe we can hit one billion dollars in ARR in 12 years.
How will you get users? If your idea is the type that faces a chicken-and-egg problem in the sense that it won’t be attractive to users till it has a lot of users (e.g. a marketplace, a dating site, an ad network), how will you overcome that?
– outbound – inside sales – sales people at our office calling / emailing enterprise companies offering our product
– inbound – content marketing
– corporate ventures (example is Oracle Global Startup Accelerator program, which we are part of and allows us to sell software to Oracle)
– networking leagues, such as EO and general networking at events – trade shows, such as IMEX Europe.
Have you incorporated, or formed any legal entity (like an LLC) yet?
What kind of entity and in what state or country was the entity formed? (e.g. Delaware C Corp)
Delaware C Corp
Please describe the breakdown of the equity ownership in percentages among the founders, employees and any other stockholders. If there are multiple founders, be sure to give the equity ownership of each founder.
Mauricio Giordano – 10%
Vinicius Neris – 29%
Pedro Góes – 61%
List any investments your company has received. Include the name of the investor, the amount invested, the premoney valuation/valuation cap, and the type of security sold (convertible notes, safes or stock).
Please provide any other relevant information about the structure or formation of the company.
no additional information
Are any of the founders covered by noncompetes or intellectual property agreements that overlap with your project? If so, please explain.
Who writes code, or does other technical work on your product? Was any of it done by a non-founder? Please explain.
Our development team is composed of 5 people: 2 co-founders and 3 employees. All InEvent software belongs to InEvent as per our contracts with current and past employees.
Is there anything else we should know about your company? (Pending lawsuits, cofounders who have left, etc.)
If you had any other ideas you considered applying with, please list them. One may be something we’ve been waiting for. Often when we fund people it’s to do something they list here and not in the main application.
None at the moment. We are really interested in the business enterprise software market. We are open to similar ideas at them.
Please tell us something surprising or amusing that one of you has discovered.
(The answer need not be related to your project.)
I had an issue when ordering sushi rolls from Japanese bars. I wanted them without cream cheese. It was hard. I got in trouble sometimes. People said they could not “customize food” for me. So I discovered a trick. I started saying I was allergic to cream cheese. It solved the problem. How you sell is very important. Keep trying until you make it.
What convinced you to apply to Y Combinator?
How did you hear about Y Combinator?
Who doesn’t know Y Combinator?