Case Study

Growth Strategy
for Real Verify
Introduction
Real Verify is a startup founded in 2016 in USA. Its product is a patented AI powered multi-factor, multi-modal,
biometric identity and live data analytics platform. The startup has 200 employees and has a development
center in India.

Following is the vision of the company, in the words of the founder.

“Our journey started with a Vision of a world of Decentralizing Identity. Giving power in the hand
of person and their devices replacing Password and enable Services at a click of a button.”

Following is the USP of their product:

Enabling the user to prove their Digital Biometric Identity and consume digital services through their personal
devices using our patented multi-factor biometrics platform, assuring zero fraud, maximum convenience and
minimum cost, with actionable data insights.

Corporate growth strategy has the following components:

1\ Cutting Edge Innovation and Tech Upgradation

a Innovations in the field of b Academic partnerships with universities and

i. Augmented AI and Analytics research institutions
ii. Behavioural biometric capabilities
c Continuous upgradation of tech stack
iii. Encryption methodologies

d Act as a SDK library for any app required

2\ New Global R&D Setup 3\ Development of Product

Upcoming Innovation Centre in the US Continue on the path of maturing standard

Roadmap and Development Centre in EU products for different sectors

4\ Strategic Partnerships 5\ Scaled Sales & Marketing 6\ Strengthening Team

Building forward-looking tech A re-energized and more Scaling up Technology

partnerships and domain aggressive sales and Development & Delivery,
/ georgraphy specific reseller marketingIts — for inbound lead Operations and Sales teams
and SI partnerships channels apart from direct sales across multiple locations

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Problem Statement
The startup has planned to raise funds from VCs. However, VCs do not seem convinced regarding the GTM
strategy of Real Verify. You have to help Real Verify by analyzing and rectifying existing GTM strategy / creating
a new GTM strategy. Please detail the following in your response:

1\ Explain problems you see (if any) in the current GTM strategy with reasons (e.g. Is Real Verify targeting
the right customer segments? Are they approaching the existing segments in the right way? Are they defining
their value proposition correctly, among other areas of the GTM strategy?)

2\ Analyze the current GTM strategy 4\ Explain why your changes to the GTM strategy will work

3\ Explain your approach to arrive at the new 5\ List the assumptions taken (if any) to arrive
GTM strategy at the new strategy

Product Information
Problem Real Verify is Solving

One-factor biometrics is easily tamperable Other ID platforms do not capture digital dust and
and not foolproof customers lose this intel

Traditional data architectures have risk of data Specialized hardware-based rollouts of other
security breach solutions are costly and lengthy

Problem Real Verify is Solving

Multifactor bio-authentication: The most

1\ 
comprehensive solution with zero risk of ID fraud
— while other solutions can still be spoofed.
2\ Touchless, multi-modal internet independent:
Agile AI platform that supports multiple device types
in an interoperable way, with or without internet.
4\ Data security: Data is on user’s device so no
security risk
5\ Plug-n-Play, Pay per transaction: SaaS offering
gives you zero CAPEX. Multifactor capabilities
without specialized hardware reducing the cost
by manifolds.

3\ Augmented data intel with big data analytics:

Other identity platforms do only identity check —
we bring the real data insights from the transactions.

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Advantages of Real Verify’s Product

Current GTM Strategy

Real Verify is currently targeting the following customer segments:

Government Banking and Financial Services Healthcare Travel and Transport

Manufacturing Automotive Education Event Management

Following are the GTM activities planned:

1\ Expected gross margin from each segment = 130 – 200%

2\ Product / Solution readiness activities to be undertaken for this segment:

Remote Biometric Contactless Event Bespoke solution Integration

Government schemes Product + Gate development with SSO / Auth
product under integration to be for rural market engines to be started
development developed

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3\ Resource plan:

Setting up BD (business development) team Regulatory Certifications

with Government network in USA and Middle East applied

4\ Partnership and promotion plan:

Partner with Government agencies and software Targeted digital promotion + Roadshow
providers for online channel

Similar plans have been drawn up for other segments

Financial Status of Real Verify

1\ Revenue projection

Subjective probabilities have been applied to revenue projection from each stage

Contracts under negotiation — Pilots under execution — Pipeline —

75% probability of conversion 50% probability of conversion 15% probability of conversion

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2\ Business Promotion Expenses Breakup

3\ Past funding rounds 4\ Funding ask to VCs

- Invested by promotors: USD 25 million - USD 50 million for growth and strategic
- External funding raised till now: expansion with USD 50 million in bridge round
USD 40 million

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USA India
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