28 Apr 2016 Announcing HyperGrowth 2.0
Same great program, now with more to love!
When it came time to open applications for the second HyperGrowth cohort, I was nervous about finding the right companies. We absolutely loved the inaugural cohort, Thinkific, RentMoola, and EDP, which set a very high bar for finding the perfect companies to make up the next group. It takes a unique mix of traction, potential, and “coachability” to make the HyperGrowth model work.
By the time we made it to the Finalist Pitches, I was even more anxious. The judges unanimously agreed on the top two companies; however, they had a wide range of opinions on the remaining companies. One judge commented that the quality of applicants had increased across the board, so the trouble wasn’t in finding one more company, the question became, “how do you pick just one?”
Sometimes in life, when things are hard to do you avoid them. Instead of staying in the judging room until midnight struggling to decide on three companies, we decided to nearly double the first cohort, and take five.
I am honoured to introduce to you the HyperGrowth 2.0 cohort: Arkit, Picatic, TalentClick, ThinkCX, and Wiivv. As they prepare to start programming on May 4th, I want to take a moment to tell you why we are so excited to be working with each and every one of them:
| A young company, Arkit’s tool is a GIS-integrated product management platform targeted for resource industries. In less than 2 years of operating, Vincent and Chris have built up a huge customer list, and been able to secure long-term recurring contracts with enterprise users. While they have a small team and both co-founders are largely technical, they have done extremely well in growing from a business-perspective. In addition, their sales have continued to grow despite horrible economic times for oil and gas. We think they could be the next big enterprise software company in BC. |
| I met Jay about a year ago in a coffee shop in Gastown. He walked me through a presentation about how well the shift to pay-what-you-want had gone for Picatic. He then told me he was about to make the product completely free for the vast majority of his customers. This would allow Picatic to migrate towards their ultimate goal: an API module that allows people to use their unseated ticketing function natively within other sites and products. When I caught back up with Jay this year, his team had executed exactly how he said they were going to – with the recent success in their pro model and the first API revenue about to hit, we think the future is looking bright. |
| The oldest of our cohort and with the largest revenue base, we present to you: TalentClick. Their software helps large companies hire the best fitting employees, and has had great success in helping industrial companies hire safe workers. They have an amazing customer list, and are navigating a switch from a “per use” model to SaaS platform for clients. They have done a ton with a small team and not a ton of investment, and we are very happy to spend more time with Greg and Stephen as TalentClick grows. |
| People seem to always be at issue with their cell phone providers, and there is no bigger issue for telco businesses than churn. ThinkCX is an algorithm that scans the web and predicts when customers might want to switch providers. When starting out, the product had a bunch of paid trials, and is now starting to see great conversion to licence subscriptions. The co-founders, Aaron and Ron, are some of the nicest guys you will ever meet. They have multiple exits under their belt, and we are incredibly thrilled to have them as part of the cohort. |
| I first met Wiivv when the company was only a few weeks old. Co-founder Louis-Victor pitched me his technology for scanning feet and creating custom 3D-printed insoles. He had been dabbling with 3D printing and various vertical applications throughout college, and it looked like he was on the forefront of what was one of the most exciting spaces in the world. Fast-forward 1.5 years, and they have built an amazing team, raised a $3.5M seed round from a collection of strategic and financial investors, and have developed a considerable amount of IP around 3D customization and adaptable manufacturing. They are about to disrupt myriad consumer verticals. |
As you can see, the cohort represents a wide variety of business models and verticals. What they do have in common are fantastic, coachable teams, and high potential for growth. Each of the companies has an enterprise sales element, which we believe is the strength of this program. We are very excited to see where this 6-month journey takes them.
I want to thank all of the applicants, mentors, judges, and partners, without whom this program would not be possible. HyperGrowth is a community initiative, and we truly couldn’t do it without you.
If you have any questions, or feel you can help these companies grow, don’t hesitate to send me a note at cweir@bctia.org.
Sincerely,
Clayton Racine Weir
HyperGrowth Program Manager