From left: James Spalding, Svea Schüler, Niall O'Gorman, Razvan Vierasu and Yash Mulik. Image: Radu Alexandru Vasile
Founded by Niall O’Gorman, MarketSizer aggregates millions of data points to deliver real-time insights for companies to help them make better decisions.
One of the most important tasks any successful business can undertake is understating market trends and making decisions based on data.
The fast-growing global sales intelligence market is valued at $4.39bn, according to Fortune Business Insights. This figures is expected to shoot up to more than $10bn by 2032. Our latest Start-up of the Week, MarketSizer, wants to grab a significant share of this expanding market.
But according to founder and CEO Niall O’Gorman, growth in the SaaS market – which MarketSizer focuses on – is not going as well as expected. “The situation in the SaaS market doesn’t seem easy right now,” he tells SiliconRepublic.com. “Growth among SaaS companies is slowing across the board.”
Tools to stay ahead of competition
Founded last year, MarketSizer aggregates millions of data points to deliver real-time insights for companies to help them make better decisions, optimise their growth, identify sales targets and understand market trends. The idea is to help SaaS vendors improve marketing efforts and increase customer retention across the full customer lifecycle.
“Our platform features detailed filtering options, global coverage, vendor benchmarks and subscription insights. We use advanced algorithms to track subscription signals and provide businesses with actionable insights that help them identify high-probability targets, optimise sales strategies and enhance marketing efforts,” O’Gorman explains.
According to him, the technology behind MarketSizer ensures that its clients have the data-driven tools they need to stay ahead of the competition.
“Scalability is crucial for SaaS companies to handle fast growth and changing demand. MarketSizer’s platform is built to scale efficiently, utilising cloud set-ups and auto-scaling features to dynamically adjust resources, ensuring consistent and reliable performance as customer needs evolve.”
Eyes on other markets
O’Gorman is no stranger to scaling a tech business, with more than 25 years of experience in the sector.
A serial entrepreneur, O’Gorman previously co-founded ChannelSight, another Dublin-based start-up that helps brands use data to strengthen their products’ online performance and maximise conversions at every stage of the consumer journey.
Before ChannelSight, he worked with Mondelez International in Zurich, Switzerland, where he managed the direct-to-consumer e-commerce operations for beverages company Tassimo across Europe and later joined the global e-commerce team.
Now, O’Gorman wants to take a lead in the market intelligence space for SaaS companies, with a potential for expansion into other sectors and markets in the future.
MarketSizer is off to a good start on that goal, having raised €1m in a pre-seed funding round led by venture capital firm Delta Partners just last week. The round was also supported by Enterprise Ireland and angel investors.
“This funding will help us develop new platform features, accelerate job creation and support our international expansion into the UK and US markets,” O’Gorman says. “[This] is just the beginning, and we plan to continue raising capital to enhance our platform, expand our team and scale our operations globally within the next 24 months.”
Challenges
Securing initial funding is only a start, however, and O’Gorman says other challenges he has faced while scaling MarketSizer including building a robust team and developing a platform “that meets the needs of our clients”.
“Navigating the competitive landscape and ensuring our technology stays ahead of the curve have been ongoing challenges. However, our team’s experience and resilience have enabled us to overcome these obstacles,” he says.
“High living costs, competition for talent and discrepancies between Ireland and abroad in how entrepreneurs and their investors are treated pose some challenges. Despite these, Ireland’s strengths provide a solid foundation for MarketSizer as we focus on growing the company.”
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