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Conversation
Highlights

 

Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Mike Weiland, CEO & Co-Founder of Govly, a public sector procurement platform that’s raised over $13 Million in funding.

Here are the most interesting points from our conversation:

  • From Necessity to Innovation: Govly was born out of the need for software to manage internal operations at Mike’s previous government contracting company, leading to a platform that now serves the industry.
  • The Value of Process in Government Contracting: Despite the bureaucracy, Mike highlights the dependability of government contracts due to their strict rules and regulations.
  • Misconceptions About Government Contracting: Many believe that all government opportunities are available on public forums like Sam.gov, but Mike explains the importance of private contract vehicles in the process.
  • Marketing Approach: Initially, Govly’s growth was driven by founder-led sales and word-of-mouth, with a significant marketing push only beginning recently.
  • Challenges in Fundraising: Timing and market conditions play crucial roles in successful fundraising. Maintaining relationships with top VC firms is essential.
  • Growth and Stickiness: Govly’s platform has become business-critical for its users, leading to significant growth, from $360,000 ARR in 2022 to an expected $4 million by the end of this year.

 

Actionable
Takeaways

Leverage Private Contract Vehicles:

Understand that not all government contracting opportunities are publicly available. Private contract vehicles can provide more lucrative and less competitive opportunities.

Importance of Relationships:

Building and maintaining relationships with top VC firms and potential partners can significantly impact fundraising success and business growth.

Market Intelligence is Key:

Using market intelligence platforms can provide insights into competitor opportunities and government procurement trends, giving you a strategic advantage.

Outbound Sales Efficiency:

Cold calling and LinkedIn outreach remain effective sales strategies in the government contracting space, despite the perceived decline in cold calling.

Operator Over Empire Builder:

When hiring your first marketing lead, look for someone who can both strategize and execute, rather than focusing solely on building a large team.

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