“We invest time first and money later.” That is our investment philosophy. The Nextail story shows that we can move fast too. After our first live meeting in Madrid, Joaquin, the founder and CEO dropped an fyi that made us jump into action… “I’m terribly sorry, but I have just received an exploding offer”.
In the cab back to the airport we went over our observations about the company. We summarised for our colleagues over the phone: “So basically, their software platform offers Amazon level prescriptive analytics to the brick ‘n mortar retail industry” was what we told them. The company certainly wasn’t addressing a small problem. Fashion retailers were losing billions every year, due to markdowns and unsold products.
One day later we submitted our own offer, and eventually won the deal. Keen led Nextail’s Series A funding and has invested its time ever since.