Derek Wang has accomplished quite a bit since his company launched in 2014.
His company, Stratifyd, uses machine learning to provide customer analytics and feedback to companies. Its goal is to find and surface unknown insights, all with the aim of increasing customer acquisition and retention, and to streamline marketing, improve products and increase revenue.
Since they wrapped up their Series A funding, Wang and his company managed to raise almost five-times the $5.9 million they raised in 2017.
At this point, Stratifyd just closed out their Series B funding, where they raised $29 million. That puts them at $42 million total, according to Wang.
From here, Wang says they plan to grow their marketing and sales team. They’ve managed to snag quite a few Fortune 500 clients, including Prudential Financial and Phillip Morris.
In January, Wang also received the Best Innovation Award from Finsiders CLT.
Raising funds has definitely helped them grow. However, there is more to it than that. He attributes much of the company’s success to its talent.
Wang said the company plans to keep hiring talent and expanding.
“We’re going strong, we’ve got more people, a lot more excited people joining us, and it’s going good,” he said.
At a recent event at Packard Place Public House, where Wang was the guest speaker, he said that he placed a lot of credit for the company’s success on the employees.
“I did not pull through this company all by myself, and in our company, it’s not just me,” Wang said. “It’s a humbling fact for me to say that everybody in Stratifyd, I have something to learn from.”
In addition, Wang shared that the team members are sub-owners of the company, meaning all employees are shareholders.
“I really believe that everybody that contributes to Statifyd needs to be of ownership,” he said.