Tom Gardiner and Harry Marshall are no strangers to the world of startups and innovation. Their previous venture, Trevor.io, was a no-code business intelligence platform designed to empower non-data professionals within companies to analyze internal data. Despite their initial reluctance to expand beyond this niche, growing demand from larger companies for customer-facing data tools has spurred them to create their latest venture, Embeddable.
Embeddable offers a developer toolkit that enables companies to build interactive and customizable data analytics dashboards without the need for coding. Utilizing a library of user-contributed templates, the platform is aimed at assisting companies with existing analytics in scaling their efforts more efficiently while retaining control over the presentation and design of their data. This approach is similar to gaming engines like Unity and Unreal, providing flexibility and customization to meet various needs.
Innovative Approach to Analytics
The Concept Behind Embeddable
Embeddable Developer, currently in private beta, is the core product driving the startup’s momentum. Gardiner and Marshall’s vision was to provide a tool that could meet the specific needs of developers, offering maximum value through a tailored and focused approach. To maintain quality and ensure they address core developer requirements, Embeddable has been highly selective in its beta phase, only accepting fewer than 100 out of over 800 applications since December 2022. This rigorous selection process has allowed the company to fine-tune its offering and cater to a carefully chosen group of users.
With Embeddable, companies are given the ability to create advanced data analytics dashboards that can be customized and adapted as per their exact requirements. This flexibility is crucial for firms looking to scale their analytics capabilities without being locked into a rigid structure. Companies can leverage the platform to create bespoke analytics tools that align perfectly with their unique demands, helping them to stand out in competitive markets. Embeddable’s approach also alleviates the burden on internal IT departments, allowing easier and quicker deployment of analytics solutions.
Financial Growth and Expansion
The startup’s selective approach to customer acquisition has proven to be a profitable strategy. Embeddable recently raised €6 million in seed funding, led by OpenOcean, with participation from investors like Four Rivers and Techstars. This funding round is set to further propel the company’s growth trajectory by expanding the team, developing additional templates, and implementing new growth strategies. These funds are a testament to the confidence investors have in Embeddable’s potential and the innovative solutions it offers in the crowded data analytics market.
As of now, Embeddable is generating over $100,000 in new revenue monthly, signaling a robust demand for their product. However, much of this growth has stemmed from organic SEO efforts, with companies seeking alternatives to incumbent players like Tableau and Microsoft’s Power BI. Customers are increasingly looking for more flexible and innovative solutions, and Embeddable’s offerings seem to fit this need perfectly. This organic growth demonstrates the platform’s inherent value and the niche it is rapidly carving out in the analytics landscape.
Overcoming Operational Challenges
Current Limitations and Future Plans
Despite the positive reception, the startup still faces some operational hurdles. Currently, tasks such as connecting databases and inviting users require manual assistance. This labor-intensive approach has been deliberately chosen to ensure that early adopters receive the best possible experience and value. However, this model is unsustainable for long-term growth, which is why Embeddable plans to launch a general sign-up system by the end of the following year. This new sign-up process will streamline the user onboarding experience, thereby helping the company scale more rapidly.
The manual assistance model, though effective for ensuring quality, imposes constraints on the company’s ability to scale efficiently. Recognizing this, Embeddable is also planning to introduce more self-service capabilities for its end customers in Q1. By giving users more autonomy, the platform will become much more accessible, allowing smaller companies and less tech-savvy users to harness the full potential of Embeddable’s offerings. This shift towards self-service is a key part of Embeddable’s strategy to grow its user base and extend its market reach.
Transitioning From Legacy Systems
Embeddable Developer, currently in a private beta phase, is the key product propelling the startup’s progress. Gardiner and Marshall envisioned a tool specifically designed to meet developers’ needs, offering maximum value with a targeted approach. To maintain high standards and focus on core developer requirements, Embeddable has been highly selective during its beta phase. Since December 2022, the company has accepted fewer than 100 out of over 800 applicants. This stringent selection process has allowed for meticulous fine-tuning and catering to a handpicked group of users.
The platform enables companies to create advanced data analytics dashboards that can be customized to meet specific requirements. This adaptability is essential for firms aiming to scale their analytics capabilities without being restricted by a rigid framework. Businesses can use Embeddable to develop tailored analytics tools that align perfectly with their unique needs, aiding them in standing out in competitive markets. Additionally, Embeddable eases the load on internal IT departments, facilitating quicker and more efficient deployment of analytics solutions.
