Digital marketplaces like Mailchimp, WordPress and Exact Target have one main functionality behind them, like sending emails, being a CRM or a CMS. These services are very popular and have scaled fast with a large proportion of business market using them. Then there are startups like Sydney-based Kademi, looking to be full-stacked digital platforms that have the functionality of many different online services all rolled into one interface.
Founded three years ago by Patrick Hone and Brad McEvoy, Kademi allows users to build enterprise solutions at lightning speed. Initially, though, Hone and McEvoy had built a training reward platform.
“We saw a big need for an eLearning platform which had the ability to reward users for training outcomes,” said Hone. “We built some proprietary software and started rolling that out heavily for pharmaceutical companies like Johnson & Johnson and then began working directly with digital agencies.”
The digital agencies that were using the platform came back to the founders requesting more features. which Hone and McEvoy then built and integrated. They continually developed Kademi based on user feedback and needs and eventually the value proposition was far greater than that of a training reward platform.
“What we effectively had built was a fully stacked digital platform,” said Hone. “That’s when Kademi really started.”
“I guess our closest competitor would be Salesforce which is a CRM and ExactTarget which is a fully integrated e-marketing platform”.
Kademi targets digital agencies, advertising agencies and marketing companies that need to build solutions for customers.
It is a clever approach because the company is able to access a number of different customers via one point of contact.
After an agency has bought into the Kademi platform, they share a scoping document with the startup. The requirements of the digital agencies are reviewed, followed by a bit of consulting around the agencies’ needs. Then Kademi onboards the agencies’ developers.
Agencies pay between $500 and $1,500 per client per month.
Kademi brings new developers to the platform, trains them, gives them working demos, provides them with live webinars and unlimited live chat support. The pop-up chat also allows Kademi to see exactly what a user is doing so they can be given real-time support if needed.
The company has raised a small seed round to the amount of $100,000 in the past, but for the most part has been using its own finances to fund its expansion. Hone did however say that a large Series A round is currently under way, though didn’t let too much information slip on the amount they were looking to raise.
In the immediate future, Hone says the primary focus will be to continue enhancing the platform and getting agencies across Australia, New Zealand and the United States using it.
“Agencies are awesome,” says Hone. “In terms of the go-to market, they’re perfect for us. We see them effectively as a reseller of our platform. The amount of time that we invest into getting an agency on board, can result in two or five or even more different monthly subscriptions.”
Featured Image: Cofounder Patrick Hone | Source: Provided