Houseware Raises $2.1M to Help SaaS Startups Optimize Data-Driven Decision Making
Houseware, a Singapore- and California-based startup, has raised $2.1 million to help SaaS startups enhance product development, discover hidden market opportunities, and reduce false steps through data-driven decision making. The booming SaaS market is expected to grow by 19.7% over the next six years, making the need for efficient decision-making tools even more critical.
The funding round was led by Tanglin Venture Partners and included participation from GTMfund, Better Capital, and angel investors from well-established SaaS companies such as Snowflake, Superhuman, Stripe, and Zendesk.
Divyansh Saini, Houseware’s co-founder and CEO, recognized a disconnect between data teams and revenue teams while working at data analytics company Atlan. Founded in 2021 by Saini and Shubhankar Srivastava, Houseware aims to bridge this gap by providing an easy-to-use, no-code interface that brings SaaS companies closer to efficiently using data in their daily operations.
Houseware targets SaaS enterprises with over 1,000 employees and focuses on revenue, marketing, and sales groups, as well as marketing and finance analysts. The platform has seen up to 30% of an organization’s employees become regular users, indicating its effectiveness in democratizing data access.
The company’s closest competitors include Clari and People.ai, as well as horizontal platforms like Thoughtspot. However, Houseware distinguishes itself by catering to non-technical users, similar to what Retool and Streamlit have done for developers and data scientists, respectively.
Houseware is also developing a layer of intelligence using machine learning (ML) and artificial intelligence (AI) algorithms to identify churn risks and create intelligent account health scores. The startup plans to launch these features in Q2 and Q3 of 2023. Additionally, Houseware intends to expand its team, hire for go-to-market roles in the US, and strengthen its partnerships with Snowflake and dbt Labs.