Gone are the times once you wanted a developer to construct an app for a comparatively straightforward activity. No-code and low-code improvement allow you to dramatically enhance the velocity of constructing and bringing easy (and, generally, not-so-simple) apps to market. I swear, half my life is being run by Zapier in the intervening time: E-book a gathering with me, and all types of issues occur mechanically within the background to make sure that our assembly is on the proper calendars, is transcribed, and the video of the decision is saved away and tagged along with your firm’s title.
The benefit of making apps that low-code and no-code provide has trade-offs, although: So as to work, they want entry to some fairly delicate information. If somebody desires entry to my information, they may attempt to hack my electronic mail, or they may hack one of many many automations tied to my electronic mail accounts. When increasingly apps are basically working on the identical underlying structure and code, they turn out to be a really tempting goal for hackers and others with nefarious intentions.
Enter Nokod Safety, which gives to observe no-code and low-code apps for safety vulnerabilities and mitigate breaches.
The corporate lately raised $8 million from Acrew Capital, Meron Capital and Flint Capital, and the group was gracious sufficient to share the (calmly edited) deck they used so we might take a sneaky peek below the hood.
We’re searching for extra distinctive pitch decks to tear down, so if you wish to submit your personal, right here’s how you are able to do that.
Slides on this deck
The corporate has left the 21-slide deck intact aside from just a few components.
Cowl slide
Workforce slide
Instance no-code apps
“Who makes use of no-code apps”
Macro pattern: The Low-Code / No Code pattern
Threats and assaults slide
Drawback slide
Threats and Assaults slide
Assault vectors slide
Mission slide
Answer slide
Structure slide
TAM slide 1
TAM slide 2
TAM slide 3
Go-to-market slide
Competitors slide
Validation slide
(Redacted) Validation takeaways slide
Timeline slide
Contact slide
Three issues to like
Nokod’s deck has a whole lot of cool issues happening, in addition to some stuff that had me fairly confused. As at all times, I’ll get to my misgivings and OldManYellsAtCloud.gif suggestions in only a second. For now, let’s take a look at the slides that received me excited.
Give me a T! Give me an E!
Okay, I’m not gonna spell out T-E-A-M within the subhead, however that is an instance of an organization that is aware of its strengths. In an early-stage firm, a founding group that has an unfair benefit is a straight-up superpower. Nokod has all bases coated on that entrance:
[Slide 2] Extraordinary founding group. Picture Credit: Nokod
The 2 co-founders have each began and exited corporations within the cybersecurity area earlier than. That’s a hell of a solution to catch an investor’s consideration. Related expertise and profitable exits screams “unfair benefit.” Even after simply studying this one slide, I used to be fairly unsurpised that this firm efficiently raised cash.
Other than the plain, this slide exhibits that the founding group understands what’s essential in a pitch deck: In the event you’ve received unbelievable traction, lead with that. In the event you don’t, spotlight your skilled group.
Nicely-articulated drawback
[Slide 9] A chic define of the issue at hand. Picture Credit: Nokod.
A very good fundraising story may have a great rationalization of what the issue is and why it could be price fixing. Not all the things on this checklist is effectively defined. To wit: Do you, with out googling, know what PII is, or, certainly, why assortment and storage of PII could be a foul factor?
The corporate might have taken the trouble to clarify the affect of a few of these points and why low- and no-code apps are notably weak in these conditions, however I get the message in broad strokes: The price of embracing no-code and low-code is that folks may not at all times know precisely what’s happening, and if one thing does occur, it may be arduous to determine precisely the place the ne’er-do-wells gained entry to a system.
A greater go-to-market slide than most
[Slide 16] Let’s promote this factor. Picture Credit: Nokod
This go-to-market slide has a transparent profile of the client: how they are often reached, what the enterprise mannequin is, and the place they’re geographically.
Constructing a coherent go-to-market technique will be surprisingly arduous. It’s what I find yourself arguing about with my pitch teaching purchasers most frequently. Having some imprecise, hand-wavy “construct it and they’ll come” concept works when you find yourself specializing in the product, however in case you are elevating cash to accumulate prospects, you don’t get to shrug and say, “We’ll determine it out once we get there.” You aren’t getting there. You’re elevating cash to execute, so you might be there.
This go-to-market slide has a transparent profile of the client: how they are often reached, what the enterprise mannequin is, the place they’re geographically, and even who the decision-maker is throughout the enterprise. I’m unsure what number of medium-sized corporations have a CISO or director of software safety. I think a whole lot of the time, these selections fall to a CTO slightly than a devoted, clearly outlined safety function.
Nonetheless, as an investor, I can take a look at this and see the define of a plan. My subsequent query can be: “Okay, speak me by your course of. How do you truly land a sale?” The story needs to be constant and description a great gross sales funnel — one thing like, “The leads come from X, we attain the choice maker by A, B, and C, after which we shut the deal 25% of the time. However we suspect we will enhance that proportion if we do Y and Z.” A solution like that can cross muster for me, and doubly so if the corporate already has paying prospects and might level to the gross sales course of it used.
In the remainder of this teardown, we’ll check out three issues Nokod might have improved or accomplished otherwise, together with its full pitch deck!