Mutiny: Solving the Conversion Problem for Marketers Everywhere
Marketing technology today is a bewildering canvas of 8,000+ tools. But among the thousands of narrowly-focused or specialized solutions in the space, Mutiny stands out for one simple reason: it aims to solve the problem of conversion, easily the most pressing challenge for any CMO.
To grossly oversimplify, marketing comes down to two things: driving interest in your product (or in marketing speak, “top of funnel” demand), and converting that interest into paying customers. Driving top of funnel demand — be it via SEO, content marketing, or advertising — is something marketing organizations have been mastering for two decades, and it has become table stakes. As one of the first investors in Google, Sequoia had a front-row seat to the creation of the most powerful top-of-funnel marketing machine, Google Ads. Through that experience, the firm learned an important lesson: if a marketing platform is easy to use and shows clear ROI, marketers will spend hundreds of billions.
The problem is that the overwhelming majority of top-of-funnel demand does not convert, and the majority of those billions are wasted. Most marketing teams are sitting on a mountain of unused data, but they don’t have the technical resources to turn it into revenue, and the conversion problem remains unsolved. That presents a huge opportunity which is why we at Sequoia immediately “got” Mutiny.
Co-founders Jaleh Rezaei and Nikhil Mathew have firsthand experience solving the conversion problem, from their time at Gusto. Through a tedious process of connecting data sources, gathering best practices, custom engineering work, and constant experimentation, they dramatically improved conversion and grew revenue 100X over their time at the company. Now, they’re democratizing that solution with Mutiny, a no-code platform that solves the conversion problem for the masses.
Founder experience aside, we did our due diligence, speaking to many of Mutiny’s customers, including progressive marketing organizations at companies such as Brex, Amplitude, Carta, Segment and Qualtrics. For them, Mutiny is more than a utilitarian tool. It’s a product they love, eagerly recommend to peers in the industry, and introduce to new employers as they change jobs. When one of these customers gave an exhaustive demo of the product, I saw the magic of Mutiny: getting immediate recommendations about which personalized experiences to deploy to which customer segments, along with a clear estimate of what the incremental lead flow would be. They make it easy and show a clear ROI.
Very successful companies innovate on the product, to be sure, but they are also very deliberate about how they build their team. Before a single line of code was written, Jaleh and Nikhil had laid down the company principles. It’s that emphasis on the how as well as on the what that is one of the hallmarks of a “Sequoia founder.” That’s one of the reasons we are thrilled to lead Mutiny’s Series A, and to embark on a journey with Jaleh, Nikhil and their team!
