September 26, 2023: The power of experience
More Quick Takes, how Secoda is standing out, jobs you need to check out and more
Quick Take: The Power of Experience
Image courtesy of ideogram.ai
In the fast-paced world of technology, experience is often overlooked in favor of innovation and novelty. However, the success story of Secoda, a rising star in the field of data science tools, serves as a powerful reminder of the value of experience and training in the tech industry.
The Journey of Secoda's Founders
Secoda's founders, Etai Mizrahi, and Andrew McEwen, are no strangers to the tech start-up scene. They previously founded Correly as part of Next36 and had a quick exit. Their journey didn't stop there. Leveraging their experience and insights, they launched Secoda and were accepted into the prestigious Y Combinator (YC) accelerator program.
Their training and experience have played a crucial role in helping Secoda emerge from a crowded field of data science tools. They have successfully positioned Secoda as an "AI-powered data search and cataloging platform."
The Power of Experience
Secoda's recent announcement of a $14m USD funding round led by Craft Ventures is a testament to the power of experience. The company has built a tool that enables companies to obtain value from their data and understand how the data was derived, thus becoming a source of truth.
Investors are drawn to tools that provide a source of truth as they believe these tools are more sticky and companies find it harder to churn from these tools the more they use them. Secoda has differentiated its approach to the market by using AI to automatically generate documentation. This unique approach, backed by a 250% revenue growth, made Secoda an enticing investment.
Lessons for the Tech Community
Secoda's success story offers valuable insights for the tech community. It challenges the common narrative that founders naturally have talent and instinctively know how to scale a business. In reality, most founders need training and experience to build a massive company. The benefits of programs like Next Canada and experience from non-scaled exits may not always be observable, but they are crucial in accelerating the growth of our ecosystem over time.
Moreover, Secoda's journey highlights that even in crowded markets, start-ups can secure financing if they listen to their customers, find a unique position, and back it up with revenue growth. There is more than enough capital out there for start-ups that can demonstrate these qualities.
In conclusion, Secoda's journey underscores the importance of experience and training in the tech world. It serves as a reminder that while innovation is crucial, the value of experience and the lessons learned from past ventures should not be underestimated.
Reply to this email and let us know your takes, and what you’d like to hear about on a future episode
Partner Content: Meet Double
Hey there, it's Alex Norman, and if you're struggling to juggle the day-to-day grind of running a business, I've got some groundbreaking news. You already know how I've leaned into Double to reclaim my time and streamline my operations at both TechTO and N49P. But, hold onto your hats—Double is leveling up with a game-changing innovation: Meet Mingo, the AI-powered delegation companion.
Firstly, a refresher: Double is the ideal wingman when you're navigating the busy world of entrepreneurship and executive responsibilities. Their EAs aren't just your run-of-the-mill assistants; they're top 1% professionals with an average of 7 years of C-suite experience. The beauty of Double lies in its innate flexibility—need 20 hours one week and only 3 the next? Absolutely no problem. You pay for exactly what you need, down to the minute, and receive a super-detailed breakdown of tasks. No hidden fees, no hassle. The word 'revolutionary' doesn't even begin to cover it.
Now, what sets Double apart even further is Mingo, an intuitive AI tool developed to elevate productivity and add another layer of precision to the work done by your EA. Mingo acts like your second brain, confirming that crucial tasks are captured, summarizing key details, and even suggesting next steps for your assistant. This brilliant addition arrives at a crucial time—when 75% of execs admit that heavy workloads and lack of time are their greatest career obstacles.
Mingo's AI technology is always online and real-time, eliminating those cumbersome multiple follow-ups that slow down task execution. It prompts you with clarifying questions right off the bat, saving you from endless back-and-forths. But Mingo isn't just a gift to busy executives—it's a productivity booster for EAs too. It proactively generates next steps and offers handy recommendations, drawing from a vast knowledge base of best practices in the realm of productivity and delegation.
Mingo is the brainchild of Alice Default, Co-Founder and CEO of Double, and it's the natural evolution of Double's commitment to blend technology and human effort for the ultimate delegation experience. And yes, this is just as transformative as it sounds. With Mingo, my own Double has become a turbocharged version of herself, ensuring that tasks are tackled quicker than ever before.
Beyond individual executives, Double has scaled up its capabilities to assist entire leadership teams with its Double for Teams offering. If you ask me, this is the future of work—melding the best of human-centric support and cutting-edge AI tech for a work environment that is as efficient as it is fulfilling.
So, what are you waiting for? Dive deeper into the world of Double, and don't miss out on experiencing the transformative "Mingo effect" first-hand.
Ready to elevate your productivity? Click here to learn more about Double and schedule a call.
Cheers, Alex Norman
Founder of TechTO & N49P
*this is all sponsored content
Reads & Opportunities
What it takes to build a strong tech ecosystem
How this former consultant grew this health tech startup into one of the largest in the industry (you’ve probably heard of it)
Inspiring podcasts we love and gain great inspiration from
Are you still concerned about the estate planning process? Do not fear.
OpenUnit is hiring now - apply here
Do you like our new format?
Want to showcase your company, events, and opportunities to 60,000+ subscribers across the Canadian Tech Eco-system? Reach out to [email protected] to learn more