Sramana Mitra: How much did you raise?

Dominik Angerer: $2.5 million. Each of them did $1.25 million. It was super nice because both of them have the same kind of upside. We had two investors who we can benchmark against each other. How many customers can they bring? How helpful are they? Both of them have been amazing so far.

Sramana Mitra: Is this the point where you introduce the enterprise pricing model?

Dominik Angerer: I didn’t introduce it. I’m a developer. My sales experience is in the project area. I can sell to companies on a project basis, but didn’t have that much experience back then. The problem was that we got more and more large customers that wanted more seats. They wanted more support and engagement.

We did the one logical thing. We removed the contact form from the website, because we didn’t want to handle this kind of requests. If we have a live chat where they can only ask small questions, it is easier for us to digest. We introduced the live chat and removed the contact form.

Suddenly, we had smaller questions to work on. We introduced an enterprise version once we found our VP of Sales. We hired a super experienced senior account executive at Salesforce. Then we figured out what kind of pricing we can go with.

Sramana Mitra: By this time, you had a lot of enterprise leads and users on your database.

Dominik Angerer: Yes. We started using a proper CRM. The problem was, you need to fill it. We had a lot of people already using the product that were also were on the enterprise level. We used that to backtrack which kind of leads would make sense to approach.

Sramana Mitra: What did you learn in that process? Where were the enterprise leads from?

Dominik Angerer: We’re a horizontal product, so we get requests from any kind of industry. We realized very early that we needed to focus because if you get so many different industries in your inbox, each of them has different pain points that you have to cater and solve problems with.

We realized that we had to choose one that we have the most impact on. If they use Storyblok and the tools that we have, this tends to increase conversion rate and, therefore, more revenue for them. Once we saw that, we doubled down on that. We integrated more e-commerce solutions into the product.

We got customers that increased their online revenue by 50%. Marco Polo introduced us to their process of content management by replacing their CMS with Storyblok in just 14 days. There are so many e-commerce businesses using us in combination with other e-commerce solutions. We are the content part of it that helps drive the storytelling into their sales funnel.

Sramana Mitra: Essentially, the catalog becomes Shopify or Bigcommerce. For each item in the catalog, there is a content piece that you provide. You provide an integration for these two systems to work together.

Dominik Angerer: Yes. You can think of it as the catalog, prices, product information are in the e-commerce area. But an e-commerce solution is not a content management solution. We split those two areas. They were able to use any technology that they want. This was the beginning.