NYC SeedStart, the accelerator arm of NYC Seed, is back with a new class and they are focused on the enterprise…
Today we hear from Peter McCoy, President and Co-Founder of Alluring Logic, an app that informs sales associate about a client’s habits/likes. Customers will now see that they’re being placed first, not their potential purchases.
Tell us about the decision to apply for NYC SeedStart.
We were looking at accelerators and other programs around NYC, yet had not found one focused on the enterprise/B2B. Being a young company, we knew we needed mentorship and guidance in a number of areas to grow our company, but found many programs were lacking when it came to B2B. We met with the Seedstart team and loved them. They really understood the challenges of selling to the enterprise, marketing your product against HUGE competitors and market positioning. We really got the feeling they could accelerate our company a lot during the program.
Tell us about your product/service?
Alluring Logic makes a mobile web app that enables retail sales associates to sell more product(s). We do this by arming them with smart data (data aggregated from the enterprise, and web data on customer shopping behaviors) on their customers so that they can provide a more personalized in-store and marketing experience. Furthermore, we leverage this data to create actionable marketing tasks to make sales associates more productive.
What market are you attacking and how big is it?
We are going after the omni-channel software market in retail. Retailers are expected to spend about $15 billion in the next 3 years.
What is the business model?
SaaS. We sell on a per store per month basis.
What are you hoping to get out of the program and where do you see your company fitting in the New York landscape?
We are learning a lot about standing out amongst the competition in the market. This is huge for us, as our competition is MASSIVE: think Micros, Verifone, SAP, Oracle…ya. We’ve learned a lot already about how to pitch this to investors, as a lot of people would immediately think, “Micros is going to crush you” Owen and Brian (the Seedstart staff) have been amazing at helping us tell a compelling story here.
In the NY tech scene: We see ourselves as being an intermediary between tech fashion/retail and the digital community. We’ve compiled a good deal of data on consumer shopping behaviors that is valuable to so many different companies, from advertisers to agencies. We want to help create great experiences for consumers at their favorite places to shop, and help all our partners market smarter to those consumers.