Under is on a mission to enable financial inclusion across the globe. Their no-code software platform helps financial services companies upgrade their onboarding capabilities with a digital application builder and a full underwriting suite of tools. Through these products, Under makes it easy for financial services companies to bring on new customers.
We first met Under back in August 2023, when they joined this year’s Stage 2 Capital Catalyst. We caught up with Co-Founder, Mike Abramovic, and Demand Generation Manager, Colin Driscoll, to hear all about their experience and the impressive growth they’ve seen after partaking in the program.
What drew you to the Stage 2 Capital Catalyst?
“We were familiar with Stage 2 Capital, and had been speaking to Dan Heck from the investing team. Since we had yet to find product-market fit, he eventually referred us to Sean Po to learn more about the Catalyst and its curriculum,” recalls Mike. “At the time, I had no idea how impactful the program would be and how much we would learn from the go-to-market side. We were able to determine who to market to, what marketing should look like, and how sales conversations should go.”
What was the program like? How did it fit your needs?
“Overall, the program was wonderful and the curation of the content was excellent,” Mike says. “The way that the program started allowed our team to align on our goals, and while we were getting foundational knowledge. Then, 3 or 4 weeks down the road, we were able to execute and get help from our mentors and fireside chat speakers.”
“The program gave us clear definitions of things every founding team should know. It gave us a clear understanding of what is a marketing-qualified lead (MQL), what is an ideal customer profile (ICP), all while sparking some crucial internal conversations,” Colin adds. “A game-changing acronym for me was ABM (account-based marketing). When we came into the Catalyst, we were manually compiling lead lists and doing more traditional outbound marketing. We eventually shifted our focus to inbound, and have made great strides in helping prospects find out about us before our initial conversations with them.
Who did you receive mentorship from? Have you stayed in touch since the program ended?
“I cannot say enough about Sean — it’s such a unique skill set to be so intelligent, and really bring the right folks together at the right time. He really understood what we needed, when we needed it, and who would fit with our product or growth stage,” Mike shares. “In particular, Stage 2 Capital Catalyst LP Edward Unthank became a mentor we’re still in touch with. He has a much different take on go-to-market — he’s always asking the difficult questions, and staying on top of website and content trends. Every time we’ve talked to him, he’s helped us push the ball forward.”
“Evelyn Swaim was also great. We talked to her weekly for at least 6 weeks,” Colin says. “She was instrumental in how we approach LinkedIn, and it has since become our primary source for leads. She really helped us hone in our content strategy and daily posts, as well as who we engage with, like partners, customers, etc., and how we conduct ABM.”
Since joining the Catalyst, what has overall growth looked like for Under? What's next for your team?
“The program was game changing and trajectory changing for us. Our ARR has increased by 140%, and we’re on our way to start raising our next funding round in January,” Mike says. “We’re excited to see how the Stage 2 Capital community can help us on that path, and we’re so appreciative of the Catalyst curriculum and everyone that helped us along the way.”
We’re wishing Mike, Colin, and the Under team all the best as they continue their impressive journey! Learn more about Under here: https://www.under.io/
