Category Visionaries Krenar Komoni, CEO & Founder of Tive: $82 Million Raised to Build the Future of Supply Chain Visibility
Jul 30, 2024
27:28
Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech's most innovative B2B founders. In today's episode, we're speaking with Krenar Komoni, CEO & Founder of Tive, a supply chain visibility platform that's raised $82 Million in funding.
Here are the most interesting points from our conversation:
- Founding Story: Krenar started Tive in 2015 after witnessing the inefficiencies in tracking shipments in his father-in-law's trucking business.
- Product Innovation: Tive's launch of the world's first single-use 5G-ready tracker in 2020 significantly improved product-market fit and customer adoption.
- Customer Shift: Initially targeting VP-level supply chain executives, Tive's ideal customer profile shifted to logistics managers and transportation coordinators who handle shipment operations.
- Sales Strategy: Cold calling and direct customer engagement were crucial in understanding market needs and iterating the product for better market fit.
- Market Discovery: Tive found a significant market in produce logistics, where real-time temperature tracking ensures product quality upon delivery.
- Core Value: Krenar emphasizes transparency with customers, building trust by proactively communicating issues and maintaining high customer support standards.
Actionable Takeaways:
- Adapt Your Target Customer Profile: Initially targeting VP-level executives may not always be the best approach. Identify and engage directly with the individuals who handle the day-to-day operations, as they may have a greater need for your product.
- Leverage Cold Calling for Customer Insights: Don’t underestimate the power of cold calling and direct engagement with potential customers. This approach can provide valuable insights into market needs and help refine your product offering.
- Innovate Cost-Effective Solutions: To succeed, especially in hardware products, it's crucial to find ways to reduce costs without sacrificing quality. Tive achieved this by working closely with manufacturers in China to produce affordable, high-quality trackers.
- Prioritize Transparency with Customers: Building trust through transparency is essential. Proactively communicate any issues and maintain high standards in customer support to foster strong, long-lasting relationships.
- Understand and Adapt to Market Needs: Flexibility and willingness to pivot are key. Tive initially targeted the pharma industry but shifted focus to produce logistics when they found a more immediate and accessible market opportunity.
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