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Ebaohiem
We helped Ebaohiem to shape their growth strategy and strengthened their investment case for a formal Series A VC funding round
#B2B SaaS #Insurtech #Asia Pacific
Company & Background
Ebaohiem is a company launched in 2014 by insurance professionals with a combined 30 year industry experience. The Company is running the insurance-comparison portal ebaohiem.com
Challenges & Needs
Like many companies in high growing markets and industries, Ebaohiem experienced strong organic growth since the early start. They expressed the need for support on fundraising and growth, to accelerate the company expansion, especially because they felt that they didn’t have a strong growth case ready. They didn’t have any investment materials or data room ready, nor did they fully understand the requirements for raising funds from (formal) Venture Capital.
Solutions & Impact
FFA helped Ebaohiem on setting up an analytics stack and on capturing valid growth metrics related to all their acquisition channels and growth funnels and pack it into a growth case. Afterwards we supported the company in preparing a solid investment case, and set up a data room and investment materials required to engage in a (formal) VC fundraising endeavour.
These messages keep our motivation high and our team going strong
” Working with FFA enabled us to define an engineered approach to growth as well as reach out to investors with a more appealing investment proposition “
Kien Luu
” Working with FFA enabled us to define an engineered approach to growth as well as reach out to investors with a more appealing investment proposition “
Kien Luu
CEO | Ebaohiem
Company & Background
Ebaohiem is a company launched in 2014 by insurance professionals with a combined 30 year industry experience. The Company is running the insurance-comparison portal ebaohiem.com, leading insurance comparison platform in the country which served over 80,000 clients to date and offers insurance products across 6 mains categories (Life, Health, Auto, Travel, Home, Business) offered by 25+ insurers. Additionally, Ebaohiem launched its private label insurance company Eros Care, identifying specific market gaps in the market and designing products for digital distribution. Eros Care private label products currently include health insurances and travel insurances.
Challenges & Needs
The main challenges & needs at ebaohiem were the following:
1. Growth validation and case
As many companies in high growing markets and industries, Ebaohiem experienced strong organic growth since the early start. Nevertheless, the company did not have a clear and detailed picture on how the growth was happening (in terms of channels, activities / campaigns), nor did they had very deep analytics tools in place to provide meaningful KPIs and metrics.
2. Investment Readiness & VC Fundraising
While the company was fast growing in a very appealing industry, the founders lacked the know-how on how to design a proper investment strategy that could be appealing to (formal) VC investors as well as fitting with the company next development steps.
Solutions & Impact
FFA helped Ebaohiem and delivered the following solutions via both our Growth Services and IR & Fundraising Services:
1. Growth Services
- Growth Checkup
As a far step for improving the capabilities of the Growth department of Ebaohiem, we performed an extensive assessment of the growth activities, in terms of analytics, tools, channels and activities. The outcome of the checkup has then been used to plan the first set of growth activities within our Growth as a Service (GaaS) service. - Growth As A Service (GaaS)
– Setup: In the setup phase we mostly focused on measuring the past performance of the company in terms of growth (CAC, reorder rates, CLTV, etc) and define the actions needed to systematically collect and analyze the growth KPIs. Such KPIs are the key elements to be used in the GaaS execution as a benchmark for improvement.
– Execution: Ebaohiem has historically acquired most of its user through SEO and with some early experiments in Facebook marketing. Therefore, in the GaaS execution we focused in consolidating and scaling the Facebook marketing activities as well as testing new channels (such as SEM and API partnerships among others).
OUR IMPACT
Ebaohiem and FFA successfully developed alternative channels for growth, boosting the company growth as well as implemented a systematic growth engine within the company to keep exploring new strategies and tactics for growth. The Growth KPI dashboards developed by FFA now allow Ebaohiem to keep control on the resources and outcomes of every single growth activity implemented and provides a simple validation, comparison and reporting tool all in one.
2. Fundraising:
We deployed our full FundRaising Booster (FRB) to provide an end-to-end solution to the fundraising needs:
- Investment Readiness Checkup: We started the collaboration with an Investment Readiness Checkup, a quick 2 hours sessions in which we quickly analyzed the company activities, traction and plans in order to identify the level of investment readiness as well as how appetible the company was for a potential VC investment. After packaging our positive findings in our Investor Readiness Report, we decided to move on with a more deeper look at the overall investment readiness.
- Investment Readiness Consulting: In order to prepare for the fundraising, we applied the FFA Investment Readiness methodology to identify all gaps to be solved by the company prior to contact potential investors. Some of the gaps were then closed by FFA with ad-hoc support (such as market research & market/opportunity quantification, competition analysis), while the resolutions of remaining gaps (mostly related to growth) have been planned together with the company.
- Investor Outreach: Once the investment material was ready, FFA connected with investors within our network as well as performed ad-hoc research for insurtech investors interested in Pre-A deals in the region. The activity generated great interest from the investment community and specific investments are currently under negotiation. Please get in touch if you are interested in getting more information about the deal.
OUR IMPACT
Ebaohiem got a dozens of interested leads for a 7-figure pre-series A round right after two months from the initiation date of the collaboration with FFA. Contact us to get details about the deal.
