This week Opinionaided announced that it had raised $4.3M in venture funding led by SoftBank Capital and BlueRun Ventures (that’s us!). Opinionaided also launched a new version of their iOS app, which is really slick.
I am very excited to be an investor in Opinionaided, and I’m really looking forward to the opportunity to participate in the journey. I thought I would discuss briefly the reason for my enthusiasm, as it illustrates some of the things I talk about when I speak with founders about building startups and raising capital.
Silicon Valley legend, Marc Andreesen wrote a few years ago about what mattered most in startups. As he does so often, he distills things usefully. He listed 3 things: big market, great product, awesome team.
On top of that, Marc also provided a great analysis around prioritizing between these three. He basically prioritizes big markets as the most crucially important. When I talk about this with groups, this often is pretty controversial–surely team or product should be the most important. Marc made the point, which I agree with stronlgy, that a great product and team in a terrible market can and do often not amount to their full potential. Conversely, in fabulous markets, also-ran products and teams can sometimes stand out.
What is exciting about Opinionaided for me is that it is scoring high across all three vectors. First, the market around getting real-time interaction and answers from your mobile device is one I see as having huge potential. Second, the product engagement is strong, as evidenced by the 125M responses and 73 responses per question. And finally, as we’ve gotten to know Opinionaided CEO and Founder, Dan Kurani, we’ve been very impressed. He brings a great blend of strong vision, customer empathy, work ethic, and humility to his work–someone we are excited to have the opportunity to work with.
Congrats again to Dan and Opinionaided team on the great progress and on the funding. On behalf of BlueRun Ventures, we’re thrilled to be embarking on this journey with you.