Component ⚙️

setting the scene

• we often get asked how we manage our startup pipeline

• here’s the step-by-step:

  • receive an inbound email from a founder

  • request company materials

  • add company information to our database

  • schedule a call with the founder

  • collect information from the founder to write the feature

  • repeat 🔁 

• what if we could receive materials, add companies to our database, and schedule calls with founders in an automated workflow? 🤯 

• this week’s company helps customers save time spent on administrative processes by reducing back-and-forth paperwork and automating repeatable tasks

in a sentence

Component is a no-code platform that enables customers to automate business processes in a single workflow

• no-code: build multi-step workflows by dragging and dropping steps into an easy-to-use editor

  • integrates with DocuSign, Calendly, Hubspot, Notion, Slack, Sharepoint, and more

• processes: merge paperwork processes like filling out PDFs, collecting signatures, and uploading documents through a simple client-facing experience

bulleted version: Component is like a customizable assembly line for paperwork, allowing companies to streamline repeated processes at scale ⚙️

the basics

• industry: b2b saas; business/productivity tool

• headquarters: New York, NY 🚖

• year founded: 2022

• company size: 2 employees 💼

• investors: not disclosed

• business model: b2b saas

sponsored by

• Mercury is flipping the script on business banking

• despite being an instrumental pillar of starting and scaling a company, traditional banking has never catered to founders’ unique needs

• that’s why Mercury’s founders decided to create a new standard for business banking with a platform that fuels founders and their finance teams with exactly what they need (and nothing they don’t)

• manage FDIC-insured accounts, send money seamlessly, grow with alternative financing, and more - all online, all with confidence

• try their demo to see why more than 100k startups across industries, stages, business types choose Mercury to help them build the next great companies

Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®️; Members FDIC.

due diligence

what we like

• 🤖 no-code automation: the automated workflow market is projected to grow 23.4% each year through 2030 as companies seek to reduce manual processes, improve the employee experience, and minimize human error

  • no-code platforms are outpacing the market, as they allow for use by non-developers and save time for technical users

• 🌐 broad use cases: Component caters to a variety of users, from saas startups to biotech enterprises, and use cases, from HR teams onboarding new employees to IT teams approving equipment purchases

• 👀 growing with users: as Component onboards pilot customers and expands its user base, the company continues to add new products and integrations to address pain points and help customers save time

potential risks

• ✍🏼 tailoring to everyone: the company must market to a broad range of teams and industries and work closely with prospective customers to map their specific use cases

• 👣 automation giants: Component’s opportunity to expand beyond paperwork automation is limited by automation leaders like Zapier, Workato, and Alloy who dominate marketing and business use cases

• 🐌 slow sales cycles: while focusing initially on enterprise customers will provide Component with large checks, the company will experience longer sales cycles

founder profiles

• Bani Singh (CEO; additionally founder @ Waitlist)

comps

• Anvil

• DocuXplorer

• Formsio

why Component: 180+ users, numerous pilots, and a paying enterprise customer are components that will position the company for long-term success 🚀

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