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October 15, 2024

Venture Atlanta 2024 Comes Together: Conference Highlights

On October 8th and 9th, The Woodruff Arts Center and Atlanta Symphony Hall came alive as the 17th annual Venture Atlanta conference began! 

Venture Atlanta has been a beacon in the Southeast’s tech ecosystem since its inception in 2007. Venture Atlanta 2024 was no different. And, it was our largest conference to date! Over 1,600 founders, investors, and service providers came together, 50 companies pitched to a packed theater, and one even walked away with a $500K investment prize!

We also welcomed our second class to the Venture Atlanta Alumni Hall of Fame. Congrats to:

  • Braxton Jarratt (ClearLeap) - VA alumni company, acquired by IBM in 2015
  • Bill Nussey (SilverPop) - VA alumni company, acquired by IBM in 2014
  • David Hartnett (Metro Atlanta Chamber) - Venture Atlanta™ Coalition Director/Co-Founder

Keep reading to get a full recap of everything that happened at Venture Atlanta 2024.

Venture Atlanta 2024 by the Numbers

  • Third Sold-Out Venture Atlanta Conference
    • 1,600+ Attendees (most ever)
    • 107 Sponsors (most ever)
    • 500+ Investors (most ever)
  • 630 Applications to Pitch (most ever)
    • 88 Selected Companies (15 Sectors Represented)
    • 50 Presenting Companies
  • 68% From Outside of Georgia (12 Different States Represented)
    • 49% Led by Diverse Founders
    • 22% Led by Female Founders

Key Takeaways From Day 1 of Venture Atlanta 2024

VC Panel & Breakfast: “Is SaaS Dead?”

The first panel of Venture Atlanta 2024 was sponsored by CBRE and talked about the outlook of SaaS, with insights from VCs Leura Craig (Outlander VC), Mark Suster (Upfront Ventures), and Victoria Treyger (Felicis Ventures). Moderated by Lynne Laube of Valor Ventures, here are some of the biggest takeaways:

  • While SaaS isn't dead, the focus is shifting away. Investors are now looking for deeper innovations, particularly in AI and hardware integration.
  • Leura emphasized the potential for AI-enabled hardware to solve problems that software alone can’t address, especially in industries that have been slow to adopt technology. 
  • Victoria highlighted the exciting opportunities at the intersection of fintech and health tech.
  • Mark stressed the importance of always thinking ahead—investing in where the market is going in 5 to 10 years, not where it is now.

The panel also dished out some key advice for founders: control your burn rates, avoid hiring a full C-suite too early, and prioritize building strong, long-term investor relationships. 

The consensus? The future of tech isn’t about chasing buzzwords but solving real-world problems with innovative, forward-thinking solutions.

Goodie Nation Thought Leadership Session: Why Resilience Is Critical for VCs and Their Portfolio Companies

Sponsored by Goodie Nation, this thought leadership session (moderated by Claude Alan Woodruff of Founder Mental Health Pledge) brought together Kendra Koch (Divergently), Chad Harris (Open Opportunity Fund), and Brett Haskell (Sports Psychologist) to talk about the importance of reliance for VS portfolio companies.

Here are the key takeaways from the panel:

  • Resilience is essential for founders and investors alike, as both face high levels of stress and uncertainty. 
  • Founders must navigate setbacks, manage rejection, and keep their companies moving forward despite difficult conditions. Resilience, they argued, is not just about survival but about developing the mental toughness to grow stronger under pressure.
  • Building a resilient mindset involves developing coping mechanisms for stress, relying on a strong support system, and embracing failure as a learning opportunity.
  • For VCs, resilience means standing by founders through ups and downs, supporting them during tough times, and maintaining a long-term vision for their success. 
  • The importance of community and connection is unparalleled. Founders who foster genuine relationships and take time to reflect and recharge are better equipped to handle adversity.

J.P. Morgan Thought Leadership Session: Navigating Capital Currents: Trends in Fundraising for Southeastern Startups

In the J.P. Morgan Thought Leadership Session, panelists Joe De Pinho (Riverwood Capital), Vanessa Larco (NEA), and Howard Lerman (Roam) shared insights on strategic capital raising in today’s cautious market.

Some important advice from each panelist:

  • Howard suggested staying bootstrapped for as long as possible, being selective with outside investment, and building a strong board with experienced leaders.
  • Vanessa advised that more capital or higher valuations aren’t always the best strategy.
  • Joe De Pinho noted an economic rebound in 2024 but warned of challenges from higher interest rates and shrinking corporate budgets.

Altogether, the panel recommended balancing capital raising with key performance indicators (KPIs) and being cautious with early-stage secondary sales. They also noted the importance of product-market fit, customer retention, and smart capital allocation for growth. 

Overall, founders were encouraged to stay focused, raise capital thoughtfully, and prioritize long-term success over short-term gains.

Key Takeaways From Venture Atlanta Day 2

Founders Breakfast

At the Day Two Founders Breakfast, a lively discussion centered around lessons learned, mistakes made, and strategies for scaling businesses. Hosted by notable founders and VA alums Eric Spett (Terminus and Scalebound) and Rob Forman (SalesLoft and Scalebound), the session offered candid insights into the journey of building and growing companies.

Key Lessons on Leadership and Growth:

  • Eric Spett discussed the importance of focusing on customer retention early. He reflected on how his team at Terminus prioritized revenue and sales growth, only to face challenges with churn and customer value later. His takeaway? Retention should be a priority from the start.
  • Rob Forman emphasized the significance of integrating purpose and values into a company from the beginning. Early in his career, he neglected to do this, which led to internal misalignment. Rob also highlighted the need for accountability in leadership and how giving too much input as a boss can stifle employee ownership and growth.

Advice on Scaling and Prioritization:

  • Both Eric and Rob stressed focus and prioritization. Eric noted that success comes from being laser-focused on building and selling the product, especially in the early stages. This involves regularly reviewing and updating priorities and tackling the hardest tasks first.
  • Rob also discussed the importance of building a cohesive leadership team. He recommended sharing personal stories among executives to build trust and understanding, as well as defining clear roles to prevent overlap and confusion in decision-making.

Executive Roundtable: Lessons Learned From C-Suite Executives

During this Executive Roundtable, seasoned executives from various industries gave a few kernels of wisdom on what they’ve learned from being in the C-suite throughout their careers. The panel included Ryan Baretto (CEO of Sprout Social), Tom Buiocchi (former CEO of ServiceChannel), Carilu Dietrich (former CMO of Atlassian), and Marty Osborn (CEO of Be Better Inc.).

  • Marty Osborn stressed the importance of negotiation, advising leaders to control the process and be prepared for tough situations, as leaving deals to chance can lead to missed opportunities.
  • Carilu Dietrich highlighted that marketing is often misunderstood as a "magic wand." In reality, it amplifies what already exists. Many marketing challenges are tied to broader strategy issues, like lack of product-market fit or targeting too many audiences. She emphasized the need for clear inputs and realistic expectations from founders.
  • Ryan Baretto underscored that a successful company is built on a product customers love. He advised founders to lead with the product, as it should be the best salesperson. Sprout's success comes from users engaging with the product before becoming paying customers.
  • Tom Buiocchi focused on the product roadmap, encouraging companies to prioritize building features that address real customer needs rather than perfecting the product. He emphasized the importance of aligning product development with long-term revenue and growth goals.

Behind the Scenes of Venture Atlanta: What Does It Take to Be a Chair?

In this session, Venture Atlanta 2024 Chairman Joey Womack introduced 2025 Chair Elizabeth Stephens, giving insight into the dedication and vision required to lead Venture Atlanta. 

Both are incredibly excited to see what the future of Venture Atlanta holds as Stephens steps into the role of chair!

Catalyst by Wellstar Thought Leadership Session: Innovating Healthcare: Bridging Clinical Expertise with Entrepreneurial Vision

The Catalyst by Wellstar Thought Leadership Panel explored the intersection of healthcare and innovation, focusing on fostering risk-taking and collaboration in a traditionally risk-averse industry. Panelists Beth Kost-Woodrow, Dr. Daniel Fortes, Nicole Cook, and Snehal Doshi discussed how healthcare professionals and startups can work together to drive change.

Here are some of the key insights the panel discussed:

Risk and Innovation in Healthcare:

  • Beth highlighted that healthcare’s “do no harm” philosophy can make innovation challenging, but Wellstar fosters a culture of psychological safety, encouraging experimentation. 
  • Snehal emphasized balancing safety and innovation, while Nicole noted the importance of navigating regulatory and billing requirements to ensure success.

Patient-Centered Insights and Technology:

  • Daniel stressed that patient access, particularly for those with disabilities, is often overlooked. 
  • Nicole shared how companies like Alvee use AI to uncover non-clinical factors impacting health outcomes, helping doctors provide more informed care.

Balancing Mission and Profit:

  • Daniel prioritized outcomes over profits but acknowledged that profits are essential to achieving healthcare goals. 
  • Nicole emphasized the need for mission-driven startups to effectively sell their vision.

The discussion was lively and encouraging, highlighted by a huge announcement that Alvee, founded by Nicole Cook, is Catalyst by Wellstar’s latest investment in the health innovation space. We look forward to seeing the exceptional work and growth of Alvee with the financial backing of Catalyst by Wellstar.

Venture Atlanta 2024 Keynote: Dawn Staley

At Venture Atlanta 2024, we were honored to have Dawn Staley, highly decorated head coach of the South Carolina women's basketball team, deliver an inspiring keynote, sharing her journey from the Philadelphia housing projects to becoming one of the most successful players and coaches in women’s basketball. Her talk centered on leadership, resilience, and personal growth, offering lessons that apply to both sports and business, including:

The Importance of Process

  • When you commit to the process, success and financial rewards will follow. This mindset has guided her throughout her career, both as a player and a coach.

Building a Complementary Support System

  • Staley stressed the importance of allowing others to contribute and create a culture of collaboration, both on and off the court, even if they’re more experienced than you.

Leadership Through Tough Decisions

  • Staley explained that sometimes you gain by losing and that making the unpopular but right decision is essential for the success of the group.

Personal Standards and the Power of Discipline

  • Staley believes that a disciplined person can achieve anything. Be selective about who you allow into your life, as the people around you can either lift you up or drag you down.

Venture Atlanta 2024 Pitch Competition Winners

At this year’s Venture Atlanta conference, we capitalized on the success of last year’s pitch competition format by running it back this year! On day one, 50 companies in the Seed, Early, and Growth stage startup categories pitched to a theater full of investors and other entrepreneurs, where an audience vote selected the top companies from each category to move on to the next round.

On day two, those selected companies returned for a live Q&A with a panel of investor judges—the top Seed Stage startup was awarded $500,000 as an investment prize for winning the first annual Startup Showcase Live!

Here are the top companies that made it for each category:

Seed Stage Winner: SmartWiz

SmartWiz is revolutionizing the tax preparation industry with its AI-powered "co-pilot" for tax professionals. Positioned as a solution that simplifies the complex and time-consuming process of filing taxes, SmartWiz allows tax professionals to upload documents, engage in a conversation with the platform, and have AI input the necessary data—all in a fraction of the time. What typically takes tax professionals four hours is now reduced to just 20 minutes.

With $1.1 million in revenue and recently securing IRS approval, SmartWiz is among the few companies in the tax software space bringing true innovation. The platform allows tax pros to integrate and manage file returns in one place, streamlining a traditionally cumbersome process.

After a well-executed pitch at Venture Atlanta, SmartWiz was named the winner of the Startup Showcase Live, securing a $500K investment prize for their ambitious mission to modernize tax prep software. Congrats to SmartWiz!

Other Finalists

  • Good Agriculture - A farm business management platform helping small to mid-size farms save time and improve profitability.
  • CrewOS - An industrial strength project management platform, built specifically for the industrial market.
  • 360 Direct Video - The first-ever solution to bridge the customer service gap for deaf individuals.

Early Stage Winner: Citiri

Citiri is tackling the staggering 99.5% failure rate of infrastructure projects with its innovative CitiriOS platform. Designed to focus on operations-centric data models and stakeholder engagement, Citiri helps ensure project benefits and economic outcomes improve. 

Initially focused on the aviation sector, Citiri is expanding into transportation, shortening sales cycles with a targeted marketing approach and a reputation for articulating clear value propositions. The platform’s average implementation takes just three weeks, embedding best practices directly into the software and making it a user-friendly solution for large infrastructure projects.

Looking ahead, Citiri plans to enhance its executive dashboard and add fintech services for ancillary partners, continuing its mission to revolutionize infrastructure project success. Citiri’s impressive pitch won them the Early Stage Startup Pitch Competition at Venture Atlanta. Well done!

Other Finalists

  • Ovum Health - A proven, at-home fertility treatment solution covered by insurance.
  • SupportPay - The all-in-one app to simplify finances for modern families.

Growth Stage Winner: Document Crunch

Document Crunch is transforming the $13 trillion construction industry with its AI-powered compliance platform. With years of experience as a construction attorney, co-founder Josh Levy recognized that contract compliance is a major cause of the billions lost annually in construction. Document Crunch solves this by helping general contractors and subcontractors manage risk and ensure contract obligations are met, from the back office to job sites.

Unlike any other platform in the space, Document Crunch is the only end-to-end compliance solution tailored for construction. Document Crunch won the Growth Stage Pitch competition at Venture Atlanta 2024 after a standout performance!

Other Finalists

  • FieldPulse - An all-in-one software making it easier for field service businesses to run.
  • Linq - The pocket CRM, helping salespeople seek, manage, and close leads through digital business cards.

Venture Atlanta 2024 and Beyond

Thank you for attending Venture Atlanta 2024! This was our biggest and best year yet—and we’re incredibly excited for what next year has to hold.

There are so many people who came together to make Venture Atlanta 2024 possible, so a massive thank you goes out to:

To stay in touch with everything going on with VA and get all the info ahead of time for next year’s conference, be sure to subscribe to our newsletter and follow us on X, LinkedIn, Instagram, and Facebook.

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