Founder Alex Adams is likely best known for his startup, Rodeo Analytics, a Straight Shot graduate. Nowadays, he’s focused on validating Pattern Plus, a spinoff of Rodeo Analytics that has shown quite a bit of early potential.
Oftentimes, competitors in horse shows are left wondering what the judges really thought of their ride. Upon completion of a ride, they’re given a score and not much more. Meanwhile, judges know there is value to that feedback. Alex has successfully put a monetary value to that feedback! Thus, Pattern Plus. The market has eagerly responded to Alex’s new product in DISCOVERY, but as customers validated their needs, so did Pattern Plus, Alex recognized a gap in his team: sales!
Typically, we advise against single founding teams. Starting up is a team sport, for role coverage and the endurance needed to make it through the journey. We had to get creative on how Alex would fill this role on his team. Thankfully, a previously arranged partnership with VentureTech (now Proteus) was ripe for expansion.
After the partners looked at the market opportunity, assessed each other’s unique addition to the team and set some serious growth goals — they struck a more formal equity-based relationship. Now, NuTech’s team will manage the sales process as it relates to acquiring judges to the platform while Alex can manage the development, customer support and product optimization. Everyone wins in this unique approach to role coverage.
Author // Erica Wassinger