Let’s set the scene a little here. You’re a SaaS company. You’ve built an incredible product; it’s gone through rigorous testing and it’s serving up the answer your customers need and they’re rolling in, but they aren’t making it to the after party (we all know that’s where the fun begins).
Why? You’ve done everything right. Your product is exactly what users need – you even bought those red plastic cups that everyone loves. But after the first drink, they are walking out the door, if they even made it there in the first place. The answer is simple, it’s Time to Value (TTV). It’s the hurdle that stands between you and exit, read: ‘churn’, and it’s ruining the fun in a trough of disillusionment. We are all staring at an alphabet soup of LTV, CAC, ARR, NPS and god knows what else but have we missed TTV, the metric arguably most influential on the rest of the alphabet?
You’ve probably never heard of Mooven and we will likely keep it that way (sort of). It’s a B2B play in a huge market that’s a little esoteric. It sits in the background of its client’s operations and ticks over without making much noise but becomes ever more critical to their customers and delivering value over and over. We love that.
If you’re deploying millions into a team working on a capital work project to fix a roundabout and the local council gives you access between 2am and 4am due to traffic disruptions, you have costs, delays and a big problem, the same problem you have with all of your capital works projects. Founded by Micah Gabriels and Paul McDonnell, Mooven is a SaaS platform used to plan, manage and report on road traffic disruption in the construction industry. It transforms data from the likes of Google and TomTom into visualised historical and live traffic information. The product ingests inordinate amounts of data and processes this via proprietary algorithms that communicate this information as insights on queue lengths, delay time and traffic speed for individual road locations around the world. Using these metrics, the product enables users to:
- plan road disruptions by setting up custom zones and analysing historical traffic;
- monitor and manage disruptions in real time using live dashboards and SMS alerts so that on site personal can reduce disruptions in real time; and
- report on compliance and actual disruption post work completion.
With Mooven, you now have access to your project between midnight and 6am, problem solved.
The world of enterprise SaaS is a tough place to be for early-stage technology businesses. Put simply, to extract 6 figure contracts from large customers, you need to deliver huge amounts of value in an instant whilst simultaneously tackling security, service SLAs, onboarding, integrations, organisational change and the plethora of other issues that arise with incorrigible procurement departments. As a spinout emerging from a management buyout from Qrious, a data and analytics service provider owned by NZ telco Spark, Mooven has cracked it. For Mooven, it’s all about the fabled TTV, that being, the time it takes a customer to realise value from an action.
Mooven’s strategy is simple, wedge in, scale up. Its customers are typically engaged in capital works projects around the country or in some cases, the world. This is daunting if these customers are required to fundamentally change how they manage traffics disruptions everywhere. They are accustomed to laying cables on the road to count cars (literally). It sucks but hey, it works, and changing the way any corporate does business is an all but insurmountable challenge.
With Mooven’s product however, they don’t have to change the way they do business. They can simply login, track the traffic on a few roads near a work site, and see if it’s helpful. Invariably, it is. We are now doing all of this and more from our computer, no more cables.
By ingesting large quantities of data and letting their technology do the work, serving up solutions to their clients in a moment all within a product that’s self-serve and intuitive and can analyse and visually represent one road segment or thousands of them, the TTV is well, zero. This unusually low TTV for a large corporate is what will drive sales cycles, LTV, CAC, NPS, churn and more in the right direction and that’s what you want as an investor. Of course, that’s not all there is to it and there’s work to be done, but it’s certainly on the way there.
The Mooven platform is infinitely fast to implement and amazingly simple for end users to adopt, benefitting from c.2 years development work from 8 dedicated developers while inside the Qrious business. It’s geography agnostic by virtue of its global data suppliers and can be used almost anywhere. In 2.5 years, it has scaled across customers to win significant logos (the likes of LendLease, Downer and the Department of Transport Victoria), with several customers on 6-figure contracts, successfully expanding from NZ into Australia without a single person on the ground in Australia. For a product like Mooven, getting ‘pulled’ by customers around the world is everything. Land, expand.
There's always more to it but for Mooven, with a TTV that’s about as long as it takes you to click twice and existing customers pulling them around the globe, things are looking up. That’s why we invested in Mooven.
Let’s set the scene a little here. You’re a SaaS company. You’ve built an incredible product; it’s gone through rigorous testing and it’s serving up the answer your customers need and they’re rolling in, but they aren’t making it to the after party (we all know that’s where the fun begins).
Why? You’ve done everything right. Your product is exactly what users need – you even bought those red plastic cups that everyone loves. But after the first drink, they are walking out the door, if they even made it there in the first place. The answer is simple, it’s Time to Value (TTV). It’s the hurdle that stands between you and exit, read: ‘churn’, and it’s ruining the fun in a trough of disillusionment. We are all staring at an alphabet soup of LTV, CAC, ARR, NPS and god knows what else but have we missed TTV, the metric arguably most influential on the rest of the alphabet?
You’ve probably never heard of Mooven and we will likely keep it that way (sort of). It’s a B2B play in a huge market that’s a little esoteric. It sits in the background of its client’s operations and ticks over without making much noise but becomes ever more critical to their customers and delivering value over and over. We love that.
If you’re deploying millions into a team working on a capital work project to fix a roundabout and the local council gives you access between 2am and 4am due to traffic disruptions, you have costs, delays and a big problem, the same problem you have with all of your capital works projects. Founded by Micah Gabriels and Paul McDonnell, Mooven is a SaaS platform used to plan, manage and report on road traffic disruption in the construction industry. It transforms data from the likes of Google and TomTom into visualised historical and live traffic information. The product ingests inordinate amounts of data and processes this via proprietary algorithms that communicate this information as insights on queue lengths, delay time and traffic speed for individual road locations around the world. Using these metrics, the product enables users to:
- plan road disruptions by setting up custom zones and analysing historical traffic;
- monitor and manage disruptions in real time using live dashboards and SMS alerts so that on site personal can reduce disruptions in real time; and
- report on compliance and actual disruption post work completion.
With Mooven, you now have access to your project between midnight and 6am, problem solved.
The world of enterprise SaaS is a tough place to be for early-stage technology businesses. Put simply, to extract 6 figure contracts from large customers, you need to deliver huge amounts of value in an instant whilst simultaneously tackling security, service SLAs, onboarding, integrations, organisational change and the plethora of other issues that arise with incorrigible procurement departments. As a spinout emerging from a management buyout from Qrious, a data and analytics service provider owned by NZ telco Spark, Mooven has cracked it. For Mooven, it’s all about the fabled TTV, that being, the time it takes a customer to realise value from an action.
Mooven’s strategy is simple, wedge in, scale up. Its customers are typically engaged in capital works projects around the country or in some cases, the world. This is daunting if these customers are required to fundamentally change how they manage traffics disruptions everywhere. They are accustomed to laying cables on the road to count cars (literally). It sucks but hey, it works, and changing the way any corporate does business is an all but insurmountable challenge.
With Mooven’s product however, they don’t have to change the way they do business. They can simply login, track the traffic on a few roads near a work site, and see if it’s helpful. Invariably, it is. We are now doing all of this and more from our computer, no more cables.
By ingesting large quantities of data and letting their technology do the work, serving up solutions to their clients in a moment all within a product that’s self-serve and intuitive and can analyse and visually represent one road segment or thousands of them, the TTV is well, zero. This unusually low TTV for a large corporate is what will drive sales cycles, LTV, CAC, NPS, churn and more in the right direction and that’s what you want as an investor. Of course, that’s not all there is to it and there’s work to be done, but it’s certainly on the way there.
The Mooven platform is infinitely fast to implement and amazingly simple for end users to adopt, benefitting from c.2 years development work from 8 dedicated developers while inside the Qrious business. It’s geography agnostic by virtue of its global data suppliers and can be used almost anywhere. In 2.5 years, it has scaled across customers to win significant logos (the likes of LendLease, Downer and the Department of Transport Victoria), with several customers on 6-figure contracts, successfully expanding from NZ into Australia without a single person on the ground in Australia. For a product like Mooven, getting ‘pulled’ by customers around the world is everything. Land, expand.
There's always more to it but for Mooven, with a TTV that’s about as long as it takes you to click twice and existing customers pulling them around the globe, things are looking up. That’s why we invested in Mooven.