A founder who successfully grew their startup, Noetica AI, to the point of acquisition by Thomson Reuter, showcasing a successful exit strategy.
This video features a founder who successfully grew their startup, Noetica AI, to the point of acquisition by Thomson Reuter, showcasing a successful exit strategy.
Obviously, you're going through this hypergrowth, um, you know, kind of like set of events and and motions. And then all of a sudden, Thomson Reuters, you know, comes knocking. Why pursuing an acquisition and instead of, you know, raising another round and continuing to scale the business? >> I think it's a good question. Um, it's really interesting. It's an exhilarating experience running a fast-growing company. Um, yeah, towards the end of last year, our growth was pretty incredible. We were signing up a bunch of huge institutions. We were seeing reliance on data increasing at rapid rates. We were growing top line at top 1% type rates. We were releasing a lot of cool and interesting features. Um, we had also only tackled a a relatively small portion of our market, um, which was primarily legal institutions. And we just really started scaling out to investment managers. Um, and
corporations. So, the momentum was really off the charts. And when that happens, you get a lot of attention. I'm sure you've heard this from other founders. You get a lot of attention from investors and potential buyers. And we got immediate attention from both lead investors in the next round and a bunch of strategic acquirers. And those processes were moving quite relatively quickly. You know, when it comes down to it, I think what any founder in that position will tell you is what you want is what's best for the vision of what you're building. But, when we were talking to TR, it was clear that if we joined forces, we could do something really, really special together. And that got us crazy excited. Uh, and you know, doing it together would be much bigger, actually, than probably doing it alone. Um, in other words, being a part of the TR ecosystem would accelerate really everything we
wanted to do with the product, with the team, the overall vision, and changing the way these transactions really operated. And it became clear as ever that, you know, this is an amazing opportunity for us to accelerate Know It acquisition. And at the same time, um, you know, kind of TR's vision to bring what we what we would call market-aware AI to every M&A lawyer, every financing lawyer, every investment manager, every corporation in that ecosystem. Um, and that that got us crazy excited.