Announcing our investment in Demand Sage

Monica Lim

One thing we’ve learned in this business, when you’re lucky enough to back serial founders, do it (especially when you’ve backed them successfully before).

We first met Raj Aggarwal and Henry Cipolla in 2010 when they were starting the world’s first enterprise-grade mobile analytics platform, Localytics. We were instantly enamored by Raj and Henry’s wherewithal and ambition, and they convinced us of their massive vision. Localytics soon became one of Eniac’s very first investments.

Earlier this year and a decade later, in February 2020, Localytics was acquired by Upland software (NASDAQ: UPLD). Raj and Henry learned a ton during their 10+ year run, growing the business to dozens of millions of SaaS ARR across hundreds of clients. We had a front row seat to their own personal and professional development, and after successfully finding their company a home, we sensed they were hungry for more. We were super fortunate to be their first call and first check (alongside Underscore Ventures) in their next business, just publicly announced yesterday — “Demand Sage” — next generation sales and marketing insights for SMB/enterprise, starting by leveraging inputs like Hubspot in formats like Google Sheets.

Raj and Henry partnered with another Localytics alumni, Randy Dailey, to form the quintessential co-founder triumvirate — CEO/Sales (Raj) + CTO (Henry) + CPO (Randy), a common structure of Eniac founding teams. They are doubling down on their superpowers- marketing technology innovation selling to the enterprise, and we’re super excited to kick off another journey together.

In this business, one way to approximate “NPS” (net promoter score) is when folks you’ve backed want to work with you again. We’re humbled and honored to have the opportunity to partner with Raj, Henry, and Randy, for the second time.

SaaS is dead, long live AI?


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