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    Persistent Ace The Case II

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    g23033
    Real Verify is a startup providing an AI-powered biometric identity verification platform. Their current growth strategy includes cutting-edge innovation, new R&D centers, strategic partnerships, and expanding sales and marketing. However, VCs are not convinced by their go-to-market (GTM) strategy. Their GTM strategy targets key sectors but it is unclear if they are targeting the right customer segments or using the optimal approach. Their value proposition and financial projections also require analysis to improve the GTM strategy.

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    Persistent Ace The Case II

    Uploaded by

    g23033
    9 views6 pages
    Real Verify is a startup providing an AI-powered biometric identity verification platform. Their current growth strategy includes cutting-edge innovation, new R&D centers, strategic partnerships, and expanding sales and marketing. However, VCs are not convinced by their go-to-market (GTM) strategy. Their GTM strategy targets key sectors but it is unclear if they are targeting the right customer segments or using the optimal approach. Their value proposition and financial projections also require analysis to improve the GTM strategy.

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    Persistent Ace the Case II

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    Real Verify is a startup providing an AI-powered biometric identity verification platform. Their current growth strategy includes cutting-edge innovation, new R&D centers, strategic partnerships, and expanding sales and marketing. However, VCs are not convinced by their go-to-market (GTM) strategy. Their GTM strategy targets key sectors but it is unclear if they are targeting the right customer segments or using the optimal approach. Their value proposition and financial projections also require analysis to improve the GTM strategy.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    9 views6 pages

    Persistent Ace The Case II

    Uploaded by

    g23033
    Real Verify is a startup providing an AI-powered biometric identity verification platform. Their current growth strategy includes cutting-edge innovation, new R&D centers, strategic partnerships, and expanding sales and marketing. However, VCs are not convinced by their go-to-market (GTM) strategy. Their GTM strategy targets key sectors but it is unclear if they are targeting the right customer segments or using the optimal approach. Their value proposition and financial projections also require analysis to improve the GTM strategy.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 6

    Case Study

    Growth Strategy
    for Real Verify
    Introduction
    Real Verify is a startup founded in 2016 in USA. Its product is a patented AI powered multi-factor, multi-modal,
    biometric identity and live data analytics platform. The startup has 200 employees and has a development
    center in India.

    Following is the vision of the company, in the words of the founder.

    “Our journey started with a Vision of a world of Decentralizing Identity. Giving power in the hand
    of person and their devices replacing Password and enable Services at a click of a button.”

    Following is the USP of their product:

    Enabling the user to prove their Digital Biometric Identity and consume digital services through their personal
    devices using our patented multi-factor biometrics platform, assuring zero fraud, maximum convenience and
    minimum cost, with actionable data insights.

    Corporate growth strategy has the following components:

    1\ Cutting Edge Innovation and Tech Upgradation

    a Innovations in the field of b Academic partnerships with universities and


    i. Augmented AI and Analytics research institutions
    ii. Behavioural biometric capabilities
    c Continuous upgradation of tech stack
    iii. Encryption methodologies

    d Act as a SDK library for any app required

    2\ New Global R&D Setup 3\ Development of Product

    Upcoming Innovation Centre in the US Continue on the path of maturing standard


    Roadmap and Development Centre in EU products for different sectors

    4\ Strategic Partnerships 5\ Scaled Sales & Marketing 6\ Strengthening Team

    Building forward-looking tech A re-energized and more Scaling up Technology


    partnerships and domain aggressive sales and Development & Delivery,
    / georgraphy specific reseller marketingIts — for inbound lead Operations and Sales teams
    and SI partnerships channels apart from direct sales across multiple locations

    © 2023 Persistent Systems Ltd. All rights reserved. 2


    Problem Statement
    The startup has planned to raise funds from VCs. However, VCs do not seem convinced regarding the GTM
    strategy of Real Verify. You have to help Real Verify by analyzing and rectifying existing GTM strategy / creating
    a new GTM strategy. Please detail the following in your response:

    1\ Explain problems you see (if any) in the current GTM strategy with reasons (e.g. Is Real Verify targeting
    the right customer segments? Are they approaching the existing segments in the right way? Are they defining
    their value proposition correctly, among other areas of the GTM strategy?)

    2\ Analyze the current GTM strategy 4\ Explain why your changes to the GTM strategy will work

    3\ Explain your approach to arrive at the new 5\ List the assumptions taken (if any) to arrive
    GTM strategy at the new strategy

    Product Information
    Problem Real Verify is Solving

    One-factor biometrics is easily tamperable Other ID platforms do not capture digital dust and
    and not foolproof customers lose this intel

    Traditional data architectures have risk of data Specialized hardware-based rollouts of other
    security breach solutions are costly and lengthy

    Problem Real Verify is Solving

    Multifactor bio-authentication: The most


    1\  4\ Data security: Data is on user’s device so no
    comprehensive solution with zero risk of ID fraud security risk
    — while other solutions can still be spoofed.
    5\ Plug-n-Play, Pay per transaction: SaaS offering
    2\ Touchless, multi-modal internet independent: gives you zero CAPEX. Multifactor capabilities
    Agile AI platform that supports multiple device types without specialized hardware reducing the cost
    in an interoperable way, with or without internet. by manifolds.

    3\ Augmented data intel with big data analytics:


    Other identity platforms do only identity check —
    we bring the real data insights from the transactions.

    © 2023 Persistent Systems Ltd. All rights reserved. 3


    Advantages of Real Verify’s Product

    Current GTM Strategy


    Real Verify is currently targeting the following customer segments:

    Government Banking and Financial Services Healthcare Travel and Transport

    Manufacturing Automotive Education Event Management

    Following are the GTM activities planned:

    1\ Expected gross margin from each segment = 130 – 200%

    2\ Product / Solution readiness activities to be undertaken for this segment:

    Remote Biometric Contactless Event Bespoke solution Integration


    Government schemes Product + Gate development with SSO / Auth
    product under integration to be for rural market engines to be started
    development developed

    © 2023 Persistent Systems Ltd. All rights reserved. 4


    3\ Resource plan:

    Setting up BD (business development) team Regulatory Certifications


    with Government network in USA and Middle East applied

    4\ Partnership and promotion plan:

    Partner with Government agencies and software Targeted digital promotion + Roadshow
    providers for online channel

    Similar plans have been drawn up for other segments

    Financial Status of Real Verify


    1\ Revenue projection

    Subjective probabilities have been applied to revenue projection from each stage

    Contracts under negotiation — Pilots under execution — Pipeline —


    75% probability of conversion 50% probability of conversion 15% probability of conversion

    © 2023 Persistent Systems Ltd. All rights reserved. 5


    2\ Business Promotion Expenses Breakup

    3\ Past funding rounds 4\ Funding ask to VCs

    - Invested by promotors: USD 25 million - USD 50 million for growth and strategic
    - External funding raised till now: expansion with USD 50 million in bridge round
    USD 40 million

    About Persistent
    With over 23,000 employees located in 21 countries, Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company
    delivering Digital Engineering and Enterprise Modernization. We work with the industry leaders including 14 of the 30 most innovative companies
    as identified by BCG, 8 of the top 10 largest banks in the US and India, and numerous innovators across the healthcare and software ecosystems.
    As a participant of the United Nations Global Compact, Persistent is committed to aligning strategies and operations with universal principles
    on human rights, labour, environment, and anti-corruption, as well as take actions that advance societal goals.

    USA India
    Persistent Systems, Inc. Persistent Systems Limited
    2055 Laurelwood Road, Suite 210 Bhageerath, 402
    Santa Clara, CA 95054 Senapati Bapat Road
    Tel: +1 (408) 216 7010 Pune 411016
    Fax: +1 (408) 451 9177 Tel: +91 (20) 6703 0000
    Email: [email protected] Fax: +91 (20) 6703 0008

    © 2023 Persistent Systems Ltd. All rights reserved. www.persistent.com

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