Category Visionaries Matthew Wright, CEO and Founder of Specright: $45 Million Raised to Build the Specification Data Management Category
Jun 9, 2023
26:24
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 Matthew Wright, CEO & Founder of Specright, a specification data management platform that's raised $45 Million in funding.
Here are the most interesting points from our conversation:
- Origin of Specright: Matthew identified a significant inefficiency in managing specification data in various industries, leading to the creation of Specright.
- Category Creation Journey: Specright is pioneering the specification data management category, a challenging but rewarding process that requires constant reinforcement of their unique value proposition.
- Industry Impact: The packaging industry, a primary user of Specright's platform, benefits from enhanced efficiency, reduced errors, and better compliance with sustainability goals.
- Enterprise Adoption: Specright's approach includes engaging with major enterprises and leveraging third-party validation, such as Gartner, to establish credibility and adoption.
- Retention and Growth: Specright boasts a 98% retention rate and a significant portion of new revenue from existing customer expansions, highlighting customer satisfaction and platform value.
- Future Vision: The next phase for Specright involves expanding their network capabilities, enabling companies to share and collaborate on specification data globally.
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