Pitch Deck Teardown: Encore’s $3M seed deck

For this week’s Pitch Deck Teardown, I’m (just about) touring to Sweden to try the $3 million seed spherical raised by developer software startup Encore.

The corporate is creating what it calls a software program improvement platform for the cloud. It reportedly raised from Crane Enterprise Companions with Acequia CapitalEssence Enterprise Capital and Third Form Enterprise Capital becoming a member of the spherical.

I wished to try this deck in additional element, specifically, since it tells a very elegant story in a market the place it’s terribly laborious to distinguish your self — each to your prospects and to buyers!

Pitching a dev software in a manner that tells the story nicely sufficient to grasp however with out dropping deep right into a rabbit gap is a very laborious problem, and that’s the needle Encore threads ever so effectively on this 24-slide pitch deck.

We’re in search of extra distinctive pitch decks to tear down, so if you would like to submit your personal, right here’s how you may try this. 

Slides on this deck

  • 1 — Cowl slide
  • 2 — “We spent 8 years scaling Spotify Premium” – staff slide
  • 3 — “Fashionable software program is richer and extra superior than ever” – drawback slide
  • 4 — “Constructing trendy software program is gradual” – drawback slide
  • 5 — “Constructing backends appears easy” – drawback slide
  • 6 — “However there’s tons extra to it” – drawback slide
  • 7 — “Encore permits you to deal with your product” – resolution slide
  • 8 — “Not like all different instruments, Encore understands your utility” – resolution slide
  • 9 — “Distinctive end-to-end insights to radically enhance the dev expertise” – worth prop slide
  • 10 — “Encore: The Software program Growth Platform for the Cloud” – product slide
  • 11 — Diagram exhibiting how present options carry out – product slide
  • 12 — “Order of magnitude enchancment” – product slide
  • 13 — “Versatile abstraction stage” – product slide
  • 14 — “At all times work at your best abstraction stage” – product slide
  • 15 — “What’s within the field” – product function set slide
  • 16 — “Street map” – product highway map slide
  • 17 — “Sturdy traction” – traction slide
  • 18 — Diagram slide
  • 19 — “Consumer suggestions extremely optimistic” – market validation slide
  • 20 — Early consumer personas – target market slide
  • 21 — “Develop by phrase of mouth by nurturing a group of builders” – go-to-market slide
  • 22 — “Begin by charging for productiveness, add unbelievable instruments for complete orgs” – enterprise mannequin slide
  • 23 — “Gross sales by natural adoption and assembly bottom-up with direct gross sales” – gross sales technique slide
  • 24 — Firm imaginative and prescient slide

Three issues to like

This can be a comparatively small spherical, and Encore continues to be very early in its journey, and I can 100% perceive the way it may completely “get away with” among the issues I’ll deliver up on this teardown. It additionally tells a very good story in an attractive method — so let’s begin with the great!

Straightforward-to-understand drawback area

[Slide 7] Encore’s product area slide is especially elegant. Picture Credit: Encore

Over quite a lot of evolving slides (5, 6, 7), the founders do a very easy job of carving out an area inside a market that has spectacular competitors without delay. By spending a number of slides telling the story of how the corporate is positioning itself within the area, it begins alluding to what the product problem is. The message of letting the technical staff deal with constructing its product, slightly than worrying about what’s occurring beneath the hood, is a compelling proposition for anybody who’s ever had DevOps spoil the product occasion.

One quibble right here that isn’t actually critical sufficient to warrant its personal merchandise within the “issues that may very well be improved” part: These slides are formulated as if the corporate is speaking to its prospects. “Lets you focus” is sensible in case you’re speaking to a potential sale. Keep in mind, although, that you just aren’t promoting the product to the buyers — you’re promoting shares in your organization. “Lets builders focus” would work higher and is a possibility to call who your target market is as nicely.

Clear worth proposition

[Slide 12] Encore’s worth proposition is amazingly clear. Picture Credit: Encore

Time is cash, and if most startups’ P&Ls are something to go by, developer time is true up there with among the most costly time there may be.

In slides 11 and 12, Encore nails down why its product has such a strong worth proposition: Flicking to this slide, it tells the story of how getting a product function or a bug repair to a manufacturing app suffers hours of avoidable delays. The subtext is obvious: That is avoidable through the use of Encore’s instruments.

If the corporate can put the cash the place its mouth is — i.e., if it actually does cut back time to deployment from hours to minutes — and if it may possibly show a direct hyperlink to improvement effectivity, the worth to software program corporations is immense. That’s it; that’s the story — it doesn’t actually matter what Encore even does, precisely, if it may possibly present that builders save important quantities of time and it may possibly discover a path to market, it is a firm that would get large.

Telling the identical story differently

[Slide 14]  Picture Credit: Encore

This slide says, basically, the identical factor as slides 12 and 13 — however it says it in a manner that is admittedly straightforward to visualise.

As an organization, one option to acquire effectivity is to make sure that you focus your builders’ consideration on the issues that basically matter, which is price reiterating on a number of slides.

In the remaining of this teardown, we’ll take a have a look at three issues Encore may have improved or completed in another way. Particularly, I’m interested by why it focuses so closely on its product, when — in my expertise — buyers usually don’t care as a lot as you would possibly suppose. A extra curious half is how the enterprise is working now (in the shape of traction and discovering a repeatable enterprise mannequin) and what it’s hoping to perform with the cash raised on this spherical. We’ll additionally share Encore’s full pitch deck so you may see the entire thing in context.

Three issues that may very well be improved

There may be so much to like about Encore’s deck: It simplifies a posh product story into a number of easy-to-digest slides and reveals why there’s a possibility available in the market. But when I had been to speculate on this firm, I might have a number of questions proper off the bat. Let’s take a more in-depth have a look at what raises the crimson flags:

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