OpenView Helps Intronis Build Successful Business Development Function
OpenView Venture Partners, an expansion-stage venture capital firm focused on providing its technology companies with deep operational support, published a case study today about the work it has done to help cloud-based backup and recovery software company Intronis create its business development function.
Entitled “Joining forces to Build a High-Impact Lead Qualification Machine,” the case study chronicles the work that OpenView has done over the past five years to recruit, train, and optimize Intronis’s BDR team.
In 2009, when Intronis first engaged OpenView, it was growing steadily and looking for a better way to qualify key prospects and convert them into long-term customers. However, the company was predominantly focused on the leads it was generating from inbound sources, and had not yet established a formal business development or outbound lead generation function. Working in partnership with OpenView, which had led its Series A round in 2007, the company was able to make great strides toward building its BDR team. OpenView helped Intronis:
- Map out and commit to a set of key goals and metrics, define minimum lead screening and qualification criteria, and prioritize target segments.
- Develop BDR training materials, create automated reports and dashboards, and prepare a campaign prioritization scheme.
- Recruit key members of its BDR team, including its first lead qualification specialist.
- Identify inefficiencies in its business development efforts and improve overall productivity.
“We work with our portfolio companies to solve the challenges they are facing and add significant operational value where their businesses need it most,” said OpenView’s Director of Growth Strategy, Devon McDonald. “Intronis had the growth potential, it just needed a better system for fueling that growth. That’s where we were able to step in and help.”
Today, Intronis’s BDR team is responsible for more than 80 percent of the company’s new revenue.
“Don’t get me wrong, the numbers are nice,” said Intronis’s Vice President of Sales. “But the biggest thing for me is the genuinely collaborative partnership that we’ve developed with OpenView. Devon has really become a trusted partner and advisor within our company. If we’re planning to implement changes or adjust our strategy, I always run it by her. That just speaks to the level confidence that we have in OpenView.”
To find out more about how OpenView helps its portfolio companies build out their business development functions, download the full case study.
About OpenView Venture Partners
OpenView Venture Partners is an expansion-stage venture capital fund based in Boston that is focused on high-growth software, Internet, and technology-enabled companies. Through its staff of seasoned operating executives, who collectively bring several decades of technology and management experience to the firm, OpenView is able to help portfolio companies quickly optimize their product, go-to-market, and organizational and operational functions. Founded in 2006, the firm invests globally and has approximately $440 million in total capital under management.
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