An online due diligence tool for startups “ReadyFor.VC”
Online tool that makes assessment simple for startups
Very recently Platform.sh, a leading cloud hosting platform for scalable web application and e-commerce businesses, have tied up with one of their investors, VC fund, OpenOcean, to create an online due diligence tool, ReadyFor.VC
Readyfor.VC is a tool for startups that allows them to accurately assess their VC funding readiness from a technical and product perspective. It basically plots the VC-readiness and technical maturity on a grid by mapping the company against other software startups in the same space.It is the end result of a consultation with hundreds of startups, including Blackfire.io, Logmatic.io and Dataiku.com.
The assessment tool has been designed as an easy to follow online quiz that the CTO and CEO of a startup complete together. The various questions asked are about business, product, the company ambition and progress so far.The online tool covers key topics that matter to scale a development team, including roadmap management, team organisation, methodology ,quality insurance, disaster recovery and support strategies.
Fred Plais, CEO of Platform.shsays that the analysis will provide software startups with much needed insight on where they can improve the quality and velocity of their software delivery.
The online tool covers key topics that matter to scale a development team, including roadmap management, methodology, team organisation, deployment process, quality insurance, disaster recovery and support strategies.
Readyfor.vc was initially tested at Vivatech Paris in July 2016, where an initial sample of mature startups (most of them have been already funded) were invited to share their answers. The results provided first insider insight on the success factors as well as the key areas for development.
Some of the more interesting findings included:
- Having a CTO invested in the business seems to be a key success factor
- Agile is now mainstream
- A six month product roadmap is the new standard
- As is having developers chose what they are going to work on
- Working from home is a trend that is here to stay
- Email, at least in the software development world, is dead
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