Building any business can often be difficult, as there are a number of factors contributing to its success or failure. The right team, the right idea, and solid marketing are certainly important, but all your efforts may be for naught if you cannot differentiate yourself from your primary competitors. Now, Spanish startup Kompyte aims to provide companies with the tool that they need to keep track of much of what their rivals are doing and therefore shape their business strategy.
The platform essentially offers access to notifications and data on the actions of the user’s competitors. The service offers information on updates to the competitor’s website (new photos, titles, tags, text, and more), social-media statistics, significant changes to search ads and SEO strategies, and the emergence of new competitors as part of the package. The appeal of this platform appears to be in the speed at which it delivers information, as the company declares that businesses can access information on their rivals within 10 minutes.
The company has opted for the subscription model, charging clients based on the number of competitors that they are aiming to track. The most basic plan starts at 59 Euro per month and allows companies to monitor 5 rivals, while the next-largest package costs 159 Euro per month and lets them track 15 other companies. Of course, if that is still not enough, there are larger, custom packages that can be negotiated.
Kompyte tells me that the inspiration for the business emerged from the experiences of co-founders Pere Codina and Albert Colmenaro in managing a previous, still-operating company. Once, one of their most loyal clients approached them, stating that their sales had dropped by about 30% in one week. The client wanted to know if there had been any changes with Adwords, but what the founders of Kompyte discovered was that one of the client’s competitors had begun offering free shipping and therefore provided themselves with an important business advantage. Thus, the founders joined forces with classmate Sergio Ramirez Gallardo to develop a platform that could keep track of these changes that competitors make to their online business.
Kompyte has not been live for long, launching only a few weeks ago, but they have pulled in about 1,000 registered users. The company tells me that they have targeted northern Europe and the United States for the moment, but they have broader expansion plans. They also already have plans for new services, including a tool for e-commerce that would enable users to compare and match prices.
To date, Kompyte tells me that they are backed by 100K Euro in pre-seed funding from private and public investors. Last summer, they decided to participate in the program at Barcelona-based accelerator Conector.