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WEBSITE
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SECTOR
Enterprise Technology and Services
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INVESTMENT YEAR
2010
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STATUS
Current
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LOCATION
Chicago, IL
Basis Technologies
Basis Technologies, formerly Centro, is a leading provider of media management software.
Investment Theme
The continued innovation and evolution of digital channels is driving demand for automation and analytics.
Delivering Operational Expertise Through FTV Propel
“Pivoting our sizable sales team to a software-first sale required a heavy lift in operations, training, and change management. Our partnership with FTV’s Bob Ranaldi got us to our end state faster and led to us to sign on more than 200 new enterprise software customers in the first 18 months, well surpassing our goals. Bob was a critical part of our team, and I credit his strategic guidance for helping us get the right processes, systems, and goals in place to drive long-term success for our business.”
Strategic sales support drives 300% YoY quarterly growth for digital media software leader.
Basis Technologies, formerly Centro, provides media management software that simplifies the entire online media buying process for agencies and advertisers. The company’s software-as-a-service (SaaS) automated and intelligent digital media platform consolidates digital operations across programmatic, direct, advanced TV, search and social campaigns.
Bob Ranaldi, who is part of the FTV Propel team, is a global sales executive dedicated to helping FTV portfolio companies optimize sales effectiveness and drive growth initiatives to scale, began collaborating with Basis’ executive and sales team in Fall of 2017 as the company transitioned from a services company to a technology company offering to its clients a product-based solution.
Bob’s strategic sales support focused on transforming the 100+-person sales team structure and configuration with “white board” and education sessions across regional teams in New York, Chicago and Dallas.
With guidance on best practices relative to scaling a tech sales effort, Bob helped Basis create and implement a sales framework and ongoing training approach centered in the MEDDIC sales strategy philosophy. Bob’s continual support and involvement led to the establishment of a “land and expand” strategy, as well as enhanced cross-sell and upsell techniques, customer success and effective use of business development and marketing resources.
Basis’ Sales Growth
- 300% year-over-year quarterly growth in software revenue over the last 3 years
- Increase in annual contract value — grew 32.8% from 2018-2019 and over 80% from 2019-2020
- Percent of sellers with a software (vs. services) contract went from 52% to 81% in a two-year timeframe
“Bob’s hands-on strategic sales guidance had a critical impact on me and the whole sales team and helped us secure our largest software deal in Basis’ history in 2020. Bob’s experienced counsel has put the sales team in the right spot to continue to win key new customers and catapult the success of our leading digital media platform.”
– Bill Hennesey, Director of Client Development at Basis Technologies
Since the launch of Basis in 2018, the company has surpassed 500 customer contracts with advertisers facilitating more than $1 billion in media ad spend through the new digital media platform.
In March 2020, as the COVID-19 pandemic hit and many companies retracted, Basisclosed its largest software deal in the company’s history with a Fortune 200 IT business process outsourcing company.
Basis has been doubling new customer adoption every nine months and maintaining a nearly perfect retention rate through its delivery of best-in-class, mission-critical enterprise software that powers their entire digital advertising operation.
Headquartered in Chicago with 40 offices in North America, South America and Europe, the significant market adoption of Basis is complemented by the company’s industry and workplace culture recognition. Highlights of 2020 accolades include:
- Adweek’s Best of Tech Partner Awards: Finalist for Retargeting
- AdExchanger Awards: Finalist for Best Educational Program
- ThinkLA IDEA Awards: Partner of the Year
- G2 Software Reviews: Centro ranks #1 Demand Side Platform (DSP) for three years running
- Great Places to Work survey showing that 96% of Centro employees consider it an admirable workplace
- Great Places to Work 4 Best Workplaces in Chicago
- Crain’s Chicago Business’ Top 25 Best Places to Work
- Denver Post’s Top 150 Workplaces