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Just funded: GreyHounders
A conversation with Marta Frenna, CEO
In this series, we interview experts from recently funded companies about their experiences in marketing, sales, and customer success and find out how they use tools and data to grow their B2B business. This series of interviews gives you the chance to gain insight into how some of today’s successful and fast-growing B2B companies operate.
GreyHounders aims to transform the optical sector by enabling people to try on their glasses at home through the use of AR, cutting out the intermediary.
- HQ: Madrid
- Employees: 11-50
- Last funding amount: €500K
- Total funding amount: €681K
- Total funding rounds: 2
What does your company do and for whom?
GreyHounders is a startup that aims to democratise access to prescription glasses through technology and at an affordable price.
The Augmented Reality online technology combined with our physical shops means that we can offer the customer a model that’s 100% omnichannel, being able to buy online and pick up in shop or buy in shop and receive the product directly at home.
We sell prescription glasses starting at €29 all-inclusive, being the most affordable alternative in the Spanish market in terms of quality of lenses, which are manufactured entirely in Spain.
What is your role in the company?
I am co-founder and CEO of the company, my main roles are fundraising and talent recruitment.
On a day-to-day basis: interviewing potential candidates to cover the most strategic areas, pitching to new investors to build possible future relationships, managing people and reviewing the KPIs and the cash flow situation.
How do you use data to succeed in your role?
Data is critical to making better decisions. We measure a lot of KPIS in all areas: digital marketing, web, customer service, social media, newsletter delivery, NPS, reviews… you name it. They guide us about the product and the service, to keep improving.
What is your main goal this year?
We have three main goals we are working towards this year:
- To triple our online sales thanks to better marketing acquisition, optimising campaigns and opening new channels of communication with the customer.
- Open our third and fourth physical shops in the first half of this year.
- Achieve more than €1M in sales and exploit the historical data we have on the web and from augmented reality to improve the UX of the online customer.
Can you give an example where you have made an adjustment to your go-to-market strategy based on data?
Yes, we made a radical change to the pricing strategy and the web checkout process based on web conversion data and best-selling product data. We discovered that one of the steps in the online buying process, related to the lens prescription, was causing many leads to leak out of the sales funnel and we adjusted it in order to manage it more easily.
GreyHounders virtual eyewear tester
What moment do you use to coordinate with your teams around the data and knowledge available?
We work with agile methodologies and have weekly team meetings on Mondays (goal setting) and Fridays (goal achievement and KPI measurement for the week).
Finally, what metrics do you think everyone who wants to raise capital should be looking at?
Runway, cash-burn, monthly growth in revenue or units sold or new customers acquired, CAC and LTV. I think these are the basic ones for investors to understand how big the potential business is and how much money it is costing us to acquire customers.