Accord: A New Platform for B2B Sales

The individuals who established Accord, a startup in its initial phases concentrating on streamlining B2B sales processes, deviate from the conventional profile of engineer-centric founders. Instead, brothers Ross and Ryan Rich, both formerly employed as sales representatives, directly experienced the unique challenges inherent in this type of sales environment.

From Google and Stripe to Accord

In November 2019, a decision was made to relinquish the security of their lucrative positions at Google and Stripe to initiate Accord. Their objective was to develop a platform specifically tailored for B2B sales, addressing the requirements of both the salesperson and the prospective client.

The company is now formally launching, backed by a $6 million seed funding round originating from Stripe and Y Combinator. It’s noteworthy that the founders submitted their application to Y Combinator following their departure from their previous employment. Their profound insights and industry expertise significantly impressed the incubator, despite the absence of a fully developed product at the time. Their initial concept was, in fact, sketched out on a simple sheet of paper.

Building the Team and the Platform

Acknowledging their strength in sales but recognizing a lack of programming expertise, they promptly enlisted Wayne Pan as a third partner to translate their vision into a tangible reality. Currently, they possess a functional program serving paying customers. This program functions as a centralized online space facilitating interaction between B2B sales professionals and potential buyers.

The Complexity of B2B Sales

As Ross Rich, a co-founder, highlights, B2B sales differ substantially from consumer sales. These transactions frequently involve a considerable number of stakeholders on the buyer’s side, averaging around 14 individuals. Such extensive involvement in the decision-making process can quickly lead to complications.

“Our application provides shared next steps and milestones for alignment, allowing buyers to track progress asynchronously. It also offers a resource hub to avoid sifting through numerous emails for essential documents and presentations, and features stakeholder management to ensure the appropriate individuals are informed at each stage,” Rich clarified.

Integration and the Human Element

Accord integrates seamlessly with existing CRM systems, such as Salesforce, to guarantee accurate tracking of all relevant data within the sales database. Simultaneously, Rich emphasizes the startup’s commitment to fostering human interaction on the platform. Rather than relying solely on automated communications, it provides a space for direct engagement, which he believes is crucial for mitigating the inherent complexities of these deals.

Future Growth and Diversity

Equipped with $6 million in funding and the experience gained from Y Combinator, the founders are prepared to intensify their market outreach efforts. The team currently comprises nine members, predominantly engineers, alongside the two sales-focused founders. Plans are underway to expand the team this year, although the exact number of new hires remains to be determined.

A priority for the team is building an inclusive environment, with a focus on recruiting women to the engineering team. They recognize that establishing diversity early on will make it easier to maintain as the company grows. Rich stated, “Starting with a diverse group only amplifies as you reach nine or ten people, and when you’re speaking with potential candidates, they’ll consider, ‘Do I trust this team and is this a culture where I want to work?’ Building a diverse and inclusive workplace requires early investment.”

Positioned for Success

While still in its early stages, the Accord team is developing a product designed to enhance collaboration and effectiveness between B2B sales teams and their clients. Their background and understanding of the industry suggest they are well-prepared for success.