I recently had the chance to get an update from Sameer Soleja, founder, CEO and president of Molecule. Though we do tend to visit regularly, it seems that with all the activity in the market and within Molecule itself, there are always new developments to cover.
Since having received their Series A funding last year, the company continues to expand its market presence and grow its staff to meet increasing demand for their products, including new product developments. Sameer noted that they have made significant investments in engineering to address emerging market needs, and particularly in the power markets where Molecule enjoys particular strength. Additionally, they have continued to invest in sales and marketing to increase their visibility, and those efforts appear to be paying off. He said that the company is on track to double their revenues this year and have, through early May, closed several new deals spanning multiple commodities and markets. “We are seeing more direct inquires and winning new logos in which we are the only solution being looked at. These deals have been ‘slam dunks’ for us in that the customers’ needs have meshed very well with our offerings and technology capabilities.” In the deals in which there are competing with other vendors, he believes they have been able to differentiate themselves by “providing a product that does what we say it does…and at a fixed price for both system access and implementation. We’ve also had several new customers note that our user experience was a key differentiator for them.”
On the product front, Molecule recently announced their latest new product called Bigbang. As Sameer explained it, Bigbang is a data fabric that powers a data lake-as-a-service. It allows users to automatically import data from Molecule, partner systems, and their own internal or external data sources. He noted that though Molecule offers a rich and well documented Restful API for integration, their customers wanted to be able to directly access their data and not rely on data that was preformatted. “With Bigbang, we’ve given them that access and, with prebuilt integrations to 30 other systems and platforms, and built-in analytics, data visualization and reporting capabilities, users can access and analyze a broad array of data from their systems and the market.”
Though Molecule’s recent sales successes are not necessarily unique given current market conditions, they have always been different in what I would call their “new tech” approach to addressing customer needs. As Sameer told me, “Our goal is to develop solutions, using the best and latest technologies, that can make our customers’ lives easier. We do that by understanding what they do and how. Our system manages more than 50 commodities and those commodities essentially run the world…so what we value runs the world.”