Common Caches is a Virginia-based startup that is building a digital evidence management system for law enforcement and private industry. We have been focused on the use case since the Boston Marathon bombing (April 2013), building the solution since early 2016, and will release a fully-functional (i.e., not MVP) and production-ready offering in early Q1 2020.
In addition to building the solution we are heavily focused on building relationships with potential customers, go-to-market partners, and complementary solution providers. An overview of our product:
Media Share is a digital evidence management system. It supports the needs and budgets of the largest Federal customers to the smallest local departments with:
– A unique focus on ease-of-use
– Support for video, audio, documents, etc.
– Machine-learning, automated, and human metadata annotations
– Scheduling of 3rd party analytics (transcripts, facial/vehicle recognition, LPR, etc.)
– Alerting and reporting
– Sharing and exporting
– Tip line (crowd source and selectively obtain)
– Chain of custody and retention rules
– Mapping and timelines
– 1000s of concurrent end-users across multiple sites
– Flexible deployment (on-premises, cloud, hybrid)
We are an intentionally small company for the following reasons:
– Hyper-focus on customer needs
– Avoid code bloat which typically occurs with too many ‘cooks in the kitchen’
– Low operating costs to be profitable at any level of sales activity
Public safety, public sector, law enforcement, research, investigations, situational awareness, digital forensics, digital evidence
September 1, 2016
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VIRAL Level 6: Getting the Product To Customers
You’ve got an awesome product and you’re getting ready to scale up.
What investors at this stage are likely to like about your business:
- Customer base:
You’ve crossed the hurdle to move beyond earlier adopters to your broader target market. People are delighted by your product, continuing to use it, and referring it to others.
- Sales traction and unit economics:
You’re seeing your sales start to map to projections and you can show that you’re bringing down your costs of customer acquisition ( how much it costs you to sell to that one additional customer) as you grow. You can show and investor your unit economics and while you likely aren’t yet at at unit profitability, you have a credible story – backed by real numbers – on how you’re going to get there, and when.
You have likely already identified potential acquirers or have an alternative strategy in mind on how you’ll provide your investors with a return.
What investors at this stage are likely to ask questions about:
You’re getting to the point where you’re going to need to C Suite better than the founding team. Are these people on your team already, and if not, what are you doing NOW to get those people on your team? Do you have specific people in mind you’re aiming to bring on your team?
You’ve been focused on your unit economics in one market, but what’s your expansion plan to other markets (customer segments, geographies, industries) and what work have you done on understanding what it’ll take to sell profitably into that market?
What’s your marketing strategy to move toward increased inbound sales?