Today, we’re excited to unveil the latest addition to the Rhino Crash, Ontopical.
Local governments spend over $2 trillion in North America each year, however the sales and procurement process is largely relationship based, heavily favouring incumbents. Finding and cultivating the required relationships involves searching and reviewing mountains of unstructured data from thousands of towns, cities, counties, and school districts to understand what new projects, products, and services they may require.
This dynamic makes growth expensive for business-to-government (B2G) service providers, such as engineering & construction groups, telecoms, and professional services firms. It also results in suboptimal outcomes for the constituents of local governments as the best service providers may not have an opportunity to participate in the bidding process.
Currently, identifying sales prospects before they reach the RFP stage requires an unscalable and labour-intensive approach to jurisdiction-specific monitoring, with some companies even sending staff to sit in on council meetings.
Ontopical is the only automated software solution that allows organizations to efficiently scale their local government monitoring strategies and uncover potential revenue opportunities months or years before they reach the RFP stage. Ontopical has built data connections to tens of thousands municipalities, public committees, and school districts allowing for real-time tracking and synthesis of millions of data points.
Additionally, Ontopical leverages natural language processing and machine learning algorithms to enable users to search, set alerts, and extract insights from the dataset in a matter of minutes. The launch of an AI-enabled co-pilot completely automates the process of obtaining qualified leads long before RFPs are issued. With just a few keywords, Ontopical is able to deliver highly curated and relevant revenue opportunities. The solution’s effectiveness has already generated strong results for customers, with one major engineering & construction firm seeing an increase in win rates from 30% to over 75%.
We are incredibly excited to partner with Ontopical’s top-tier leadership team. Clayton Feick, CEO, has repeatedly scaled and exited data-based businesses. He was most recently the CRO at Flinks, where he grew ARR 10x in advance of a successful $100+ million exit to National Bank. Prior to Flinks, he was the VP of Sales at Quandl, an alternative financial data company selling into hedge funds, which was acquired by Nasdaq in 2018. Derrick Koening, Founder & CPO, is a veteran of the engineering & construction industry. He is an accomplished industry leader with more than 25 years of experience selling products into local governments.
We are big believers that Ontopical is well positioned to become the winning solution in the B2G sales market. With its strong traction, tangible ROI for customers, ambitious growth plans, and an experienced team, we are excited to welcome Ontopical to the Crash!