How targeted connections helped Relevic secure investment

As part of our series exploring successful startup stories from our events, we spoke with Saad Sohail, co-founder of Relevic.

Relevic is a self-service web personalisation tool that provides a suite of applications to clients to create relevant and personalised web experiences for their site visitors.

Saad has attended Web Summit twice, and in 2023 held meetings that led to the startup securing a £150,000 pre-seed investment from Jenson Funding Partners.

We spoke to Saad about his experiences at Web Summit, and how it impacted Relevic’s development. 

How did you first hear about Web Summit?

I first heard about Web Summit through my professional circles and industry peers. I was already familiar with its reputation as a premier global event for marketing tech. It attracts talent and stakeholders from around the world and is one of the top events within its space in the calendar year.

When did you first attend Web Summit and in what capacity?

I first attended Web Summit in 2017. The experience was fantastic and left a lasting impression. In 2023, we attended again, this time as part of the Alpha program, to showcase our startup, Relevic, and leverage the event’s networking and exposure opportunities.

Can you tell us a little bit about your background, and what your company does?

The founding team of Relevic brings a diverse background in digital marketing, product management, and agile methodologies, crucial for our tool.

I’m a digital marketing expert with extensive experience in managing digital applications for companies like DHL and Mazda, co-founder Fahd Sheikh is an accomplished product manager with over five years of experience in launching and scaling SaaS products. Finally, co-founder Ali Sohail is an Agile coach and Scrum Master with more than 15 years of experience. 

Business websites have been stuck with static experiences for way too long. We’re looking to make this part of the user experience smart. Focused and targeted content leads to better user experience and a healthier bottom line for businesses.

Relevic is a no-code website personalization tool designed to exactly do this. We use AI to tailor content based on visitor behaviour, enabling businesses to provide hyper personalised experiences that drive conversions and customer satisfaction. Our features include smart product recommendations, personalised website content, and targeted discounts.

What was your experience of your first Web Summit?

Our first experience at Web Summit as a startup was incredibly productive and inspiring. The exhibition day was filled with non-stop interactions, allowing us to validate our product, test our technical capabilities, and gain valuable insights for product evolution. The energy and enthusiasm of the attendees made it a memorable experience, just as I remembered from my first attendance in 2017.

What are some of the connections you have made through Web Summit?

Through Web Summit, we made numerous valuable connections with potential clients and investors. The event’s diverse attendee base allowed us to engage with people from various industries, leading to meaningful conversations and opportunities for collaboration.

Did you connect with any investors at Web Summit?

We connected with several investors at Web Summit. Some of these were individuals we had been in touch with before, while others were new connections made during the event. These interactions were crucial in advancing our fundraising efforts.

At Web Summit, we strategically set up several one-on-one meetings with investors using the Web Summit app. This involved identifying investors with an interest in our market segment and sending courteous, well-researched meeting requests. These pre-arranged meetings were invaluable, allowing us to engage with investors who were already somewhat familiar with our space. 

We also attended sessions hosted by VCs and funds, which were crucial for expanding our network and gaining insights into what brings value for investors. This also provided opportunities to engage with both presenters and fellow attendees, leading to fruitful side conversations.

Also, we were able to refine our pitch from various pitching opportunities at the summit itself and numerous side events taking place in Lisbon. 

How did you go about contacting investors at Web Summit?

We knew that everyone attending Web Summit is there to make connections. Preparation was key; we used the Web Summit app to research and identify the right people to approach. By knowing who was looking for what, we could make targeted connections. The app was our best resource, and we weren’t afraid to say hi to potential investors when the opportunity arose.

Did you secure investment?

Yes, but the path to securing investment was far from straightforward. Web Summit played a crucial role in our fundraising journey by helping us refine our pitch, build a network of interested investors, and understand the due diligence process better. 

After the event, we followed up with 4-5 funds that had shown interest during our meetings at Web Summit. While none of these connections directly resulted in investment, the experience was invaluable.

The final investment came through a deal maker in London, someone we had met before and reconnected with at Web Summit. This connection led to our successful funding round, but it was the cumulative effort—meeting investors, participating in pitch events, attending sessions, and leveraging our Web Summit presence on social media—that ultimately prepared us for the successful closing of our seed round. 

Would you recommend Web Summit to other founders?

Absolutely. Web Summit is an excellent platform for startups to gain visibility, validate their products, and make valuable connections. The energy and opportunities it offers are unparalleled, making it a must-attend event for any founder looking to grow their startup.

What advice would you give to other founders on securing investment at Web Summit?

My advice to other founders would be to prepare thoroughly before the event. Research the investors and companies attending, and have a clear strategy for who you want to meet and what you want to achieve. Be ready to pitch your product at any moment, and make the most of the networking opportunities, including side events. Building relationships and following up after the event is key to converting these connections into investments.

Main image: Relevic