Durham’s Windsor Circle Wins Best Pitch At Google Demo Day.
During a competition for startup at Google Inc’s campus at Mountain View, California, A Durham startup tech had managed to take the top prize home on Wednesday.
Durham-based Windsor Circle, a company know for its web marketing software, had been chosen as the favorite of the judge during its pitch in the competition host by the company’s entrepreneurship support program, Google for Entrepreneurs.
“The idea was to curate some of the best start-ups with the best entrepreneurs in regions around the country, and then to bring them to the best investors in Silicon Valley with the idea of shining a spotlight on the innovation that’s happening all around the country,” said Steve Case, a co-founder of AOL who was one of the competition judges.
The competition had over 10 companies from up to seven cities in Google’s new tech-hub network ere selected to take part in this event. The American Underground, a hub known for entrepreneurs that got their start from the basement of the American Tobacco complex is downtown Durham, had also taken part in the event. Along with another Durham company Windsor Circle and Automated Insights, also pitched their work on Wednesday.
At the end of the competition, Case had announced he was personally going to be each of the competitors $100,000. The judging panel, which had three of them, had also included the general partner in Google Ventures, Google’s venture capital investment arm, and from another venture capital firm. This competition was held at Google Ventures offices on their main campus.
Windsor Circle’s own CEO and co-founder Matt Williamson had over five minutes to give details on the Durham-based startup and convince the judges why his company is the best choice. The company helps out e-commerce companies gather their customer data from their websites so they can use said data information to directly market their products to those customers.
Williamson went on to say that their currently existing customers made up of about 41 percent of retail revenue for companies, and are valuable to them. But he went on to say that directly marketing to potential customers requires investment in technology and people to understand whom they should be marketing to and how.
“Even if you could get all that data together, (the) average marketer doesn’t understand who to market to,” he said.
The company’s software complies customer purchases from its history information from businesses sales websites, and then allow said business to directly market towards customer who already made there purchases.
“We can predict exactly who’s going to return based on what (was) bought and when,” he said.
At the moment, Windsor Circle has managed to raise over $2.5 million in local investment, and is involved with a national investment round, according to Williamson. The information found on the presentation mentions that the company expects to take in about a $2 million in revenue during this year, but would only see its cost some where around $258,961.
In a released statement, Chief strategist for the American Underground, Adam Klein, said Windsor Circle “came out on top” after manage to go up against some of the best companies around from startups all over the country.
“In addition to being a huge boost for Windsor Circle, this win sends an unmistakable signal to investors around the world that Durham and the Triangle are a hotbed of innovation and an unparalleled destination for smart investments,” Klein said.