Improving Sourcing and Due Diligence of Startups

Improving Sourcing and Due Diligence of Startups


Improving Decision Making for Venture Rank

An innovative data system helps drive new growth and a new product for a startup helping evaluate early-stage companies.

🗒ī¸ Background

Venture Rank is a startup based out of Chicago that helps venture capital funds and job seekers do smarter due diligence on early-stage technology companies. Our team led the development of a startup sourcing and ranking system. This project was led by our Managing Partner, Derek Larson.

🛠ī¸ Challenge

There is a ton of data across the web that is underutilized by job seekers, and VC's when evaluating and sourcing early-stage companies. The problem is that it is often unstructured, and only valuable when tied into a broader ecosystem and dataset. With Venture Rank, we developed an MVP of a tool to automate the process of doing background research, and ranking and scoring startups. This enabled the company to test its product vision, and develop insights into the best signals about an early-stage company trajectory.

💡 Solution

Our solution builds on three tenants.

  1. Leveraging the logic of proper due diligence and research into industries and startups
  2. Custom data extraction, management, analysis, and ranking algorithm
  3. Custom front end, and data visualization

To accomplish this, we built custom scripts and scrapers to collect data on 10M companies and merged with dozens of open-source datasets to get a compelling picture of the health and growth of different industries and companies. Then, using our team's expertise in venture capital, we built out the custom logic for ranking the companies, and building predictive analytics for both evaluations of companies, and recommending them based on user preferences. From here, we built a custom scraper that extracted all of the relevant jobs from companies' websites, and helped design and develop a recommendation system using natural language processing and machine learning algorithms.

📊 Results

Through the product development, we were able to help Venture Rank get in front of early customers with a compelling MVP, and develop critical infrastructure to help evaluate companies, and test their thesis.

Let's Connect

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