Aviso Launches With $8M to Help Enterprises Avoid Revenue Misses
Zuora Founder and Former JPMorgan Chase Executive Pioneer Quantitative Application to Manage Revenue Assets, Mitigate Risk, and Refine Forecasts
MOUNTAIN VIEW, Calif., April 30, 2014-- Aviso (www.aviso.com) today announced that it received $8M in Series A funding led by Shasta Ventures; First Round Capital; Cowboy Ventures; Bloomberg Beta; Subrah Iyar, founder and CEO of WebEx; Roger Sippl, founder and CEO of Informix and Vantive; Dave Hersh, founding CEO of Jive Software; and Ron Gill, CFO of NetSuite. This investment marks the official launch of the company after two years of product development working with early adopters: RingCentral (RNG), Saba Software (SABA), FireEye (FEYE), Damballa, Replicon, and Zuora.
Aviso brings advanced portfolio management principles to business executives making critical revenue decisions. Aviso was co-founded by K. V. Rao and Dr. Andrew Abrahams. K. V. is the co-founder of Zuora, and Andrew was previously a senior Risk Management executive at JPMorgan Chase and led the development of mathematical and computational models used for derivatives, credit activities, economic capital, and risk analysis over the course of 15 years at that institution.
Current Tools Don't Help Executives Measure Risk to Avoid Revenue Misses
Despite large reservoirs of data created by enterprise CRM and ERP systems, CEOs, CFOs, and other executives responsible for revenue don't have the right tools to make critical revenue decisions around risk, resource allocation, and pricing. Instead, they rely on a hodgepodge of spreadsheets and subjective judgments that result in failed revenue projections and forecasts that do not fully recognize the risks and upside potential, and that aren't properly adjusted for current pipeline, environment, and resources.
Nearly every day companies announce revenue misses, creating a host of subsequent problems: investor and board skepticism, job losses, negative employee morale, and knee-jerk changes to company strategy. Based on data pulled from Zacks, more than $50B in market capitalization was lost in the last quarter due to revenue surprises.
Total Revenue Intelligence: Insights into All Types of Revenue Streams in an Organization
Aviso delivers a multi-tenant, cloud application bringing together machine learning and the mathematics of portfolio management for enterprises to achieve Total Revenue Intelligence. Utilizing data feeds from a company's CRM, ERP, custom datasources, and real-time market signals, without requiring spreadsheets, custom coding, or data scientists, Aviso gives executives:
•Objective projections for all revenue streams (sales, services, renewals, etc.);
•Calculations of expected revenue realization versus internal forecasts and actuals;
•Interactive and drill down capabilities to perform 'What if' scenario analyses; and
•Risk scores to forecast, price, discount, and value revenue assets appropriately.
"Total Revenue Intelligence will solve one of the most important problems facing both private and public companies today -- making reliable predictions across all revenue streams," said Jason Pressman, Managing Director at Shasta Ventures. "Aviso has a unique opportunity to transform decision making in the board room and across all of a company's operations."
"Today it is critical for executives to understand risks in their revenue projections, so they can allocate resources appropriately to achieve their revenue targets," said K. V. Rao, Co-Founder and CEO of Aviso. "We are pioneering a new approach to help every executive make better decisions that will lead to improved and predictable revenue growth."
"Aviso's approach using the sophistication of financial portfolio management for enterprises to understand and evaluate risk and return across all their revenue streams is novel," said Denis Pombriant of Beagle Research. "Total Revenue Intelligence has the potential to disrupt the way businesses use data to make revenue related decisions and avoid future revenue misses."
Industry Executives Attest to Aviso's Total Revenue Intelligence Vision
Shawn Farshchi, President and Chief Executive Officer at Saba Software
"Maximizing predictability in our pipeline will help us prioritize high-potential opportunities, supporting our growth objectives and delivering shareholder value. Total Revenue Intelligence can change how executives use data to make critical decisions."
Dave Berman, President at RingCentral
"Total Revenue Intelligence solves one of the biggest challenges every fast-growing company faces -- how to make the right decisions to grow the business and work to exceed revenue expectations."
Tyler Sloat, Chief Financial Officer at Zuora
"In today's data-driven world, it's critical to be accurate, predictable and make risk-weighted decisions to drive an organization's revenue growth. Aviso's approach with Total Revenue Intelligence helps bring sales and finance together."
Aviso is transforming the way that executives make decisions to manage revenue assets, mitigate risk, and refine forecasts. Aviso's Total Revenue Intelligence cloud applications use advanced machine learning algorithms and portfolio management frameworks to generate scenarios, predict outcomes, and understand risks, enabling CEOs, CFOs and all executives responsible for revenue to make better decisions that drive revenue growth. Founded in 2012 and headquartered in Mountain View, Aviso's investors include Shasta Ventures, First Round Capital, Cowboy Ventures, and Bloomberg Beta. For more information, visit www.aviso.com and follow us @avisoinc.
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