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Exclusive: Menlo Ventures Leads Matik’s $3M Seed To Personalize Business Reports

Matik is looking to automate presentations that are created multiple times but with different content, such as quarterly business reviews.

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The startup recently received a $3 million seed round of funding to develop its platform for quickly generating personalized presentations with dynamic content.

Menlo Ventures led the round with participation from BoxGroup and Oceans Ventures. This follows a small funding in late 2019, giving Matik a total of $3.1 million in funding since the company was founded in January 2019, according to Crunchbase data.

As part of the funding, Naomi Ionita, partner at Menlo Ventures, will join Matik’s board.

The company will use the new cash infusion to invest in its product and will hire additional people in the engineering and go-to-market areas, Nikola Mijic, co-founder and CEO of Matik, told Crunchbase News.

Mijic started Matik with Zak Stein after working at LinkedIn building similar internal tools that supported the sales team. Stein worked at Box, where he was an early engineering hire and helped architect and build many of Box’s key content management features.

The primary use case for Matik is the quarterly business review, Mijic said.

Typically, creators go into a library of presentation templates and choose one they can repeat for all clients. For a sales person who has to repeat that 60 times, for example, it can take a large chunk of time each quarter. Matik surveyed users and found that 63 percent said it took over two hours to generate those reports. For that individual with 60 clients, it could take more than 120 hours, or three weeks, to do these type of reports each quarter. Matik helps reduce that to minutes per report, Mijic said.

Meanwhile, the company wants to scale its product and gain more enterprise clients. Mijic said the company’s next milestone is to eventually raise a Series A round.

Much of the company’s growth in users has come from companies that had to reduce their workforce during the global pandemic — companies now have to do the same amount of work with less employees.

“With COVID-19, the sales industry was hit, but usage was going up as companies had tailwinds and needed to arm themselves with data-driven insights,” Mijic added. “We have had a crazy amount of inbound requests from companies looking to automate and create templates for their field.”

Photo of Matik co-founders Zak Stein and Nik Mijic courtesy of Matik.
Blogroll illustration: iStock

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