This is the Osano pitch deck to raise their $3m seed round in March 2019. LiveOak Venture Partners led the round. Osano transforms millions of unstructured legal disclosures about data management practices into structured and actionable insights for compliance teams.
This isn’t the simplest of startups to understand, tbh (I still don’t… but then I haven’t tried either). But the background story is interesting.
The founder Arlo Gilbert was watching Zuckerberg testifying before totally out of touch mutants in Congress, and whilst we saw comedy, he saw a business opportunity (That’s a huge learning. Always be looking for opportunities).
He heard questions like “Do you still track me after I log out of Facebook'” and he was shouting at the TV like a looney tune “Of course they do! They cookied you. They’re tracking you everywhere you go!”
Then the penny dropped. He realized from the questions that most people (i.e. everyone) don’t grok what they’re actually agreeing to when they sign up for a service like Facebook or Google, particularly about what they do with their data. Did you know LinkedIn owns any idea you message in LinkedIn… yeah…
You aren’t I are not naive and we know these companies are doing things, but who has the time to figure it out by reading what “information is buried in like a 28-page legal document”? Not me.
Arlo thinks there is gold in them hills.
I don’t see how this is a monetizable initiative, but then I am not that smart.
Osano’s SaaS platform transforms millions of unstructured legal disclosures about data management practices into structured and actionable insights for compliance teams. Protect your company and gain instant visibility into your vendors’ data compliance practices.
To date they only raised a solid $3m seed round.
Pitch deck review summary
It’s not a great deck for investment purposes. For a demo day presentation, it’s pretty solid. My guess is it is for a demo day type thing or made for PR purposes.
It explains what they do but I really don’t care. I don’t get what problem they are solving and why people will pay for it?
As an investor making money (a lot of it) is all I care about.
Structured summary review
There is the right amount of text for a demo day presentation.
At 9 slides, the length is super short.
There aren’t headers.. the headers are instead the core messaging per slide (which headers function as in the way I write decks).
Vomit. First thing I see is they formatted their deck in 4:3 and not 16:9. Such a loss of space. 4:3 is like using Windows 95.
Otherwise, the deck is well done. My bar for design is low. I just care about the communication of core messaging.
Whilst short, the story comes across, right?
Things are aligned well. There is negative space. For the content they have, it’s good. There just isn’t that much content.
I’m assuming it’s a demo day deck so it’s ok. But for a demo day, I would want to know their go to market at least.
Slide by slide review
Well, it’s pretty clear this isn’t a deck they sent to investors to get a meeting. Arlo apparently ‘presented’ in pitch meetings which is frankly peculiar. Indeed, this deck looks like something for demo day.
They are on the whole b-corp thing. That basically means they are trying to be goody two shoes. Warby and TOMs did that. Don’t get the point, but maybe it fits with their mission?
The slide makes a point. People apparently have 100 online accounts. There is no source to back this up.
Yup, no one reads the fine print. I think there was a Netflix documentary on that I watched a while back.
Arlo thinks that is a problem. I don’t… and do you know what… he doesn’t explain why it is a problem. I personally don’t give a shite.
Ok, so Osano has a product called privacymonitor it seems. I don’t like multiple names in startup land. It confuses things.
They explain what they do simple now. We read the boring crap that I don’t care about… so what?
Whilst I don’t get the point of this startup, Arlo has explained the startup pretty well (at a high level) so far. Again, this feels like a demo day pitch to me.
We are straight into traction now. Apparently “big leads are coming in” but we don’t know who so I discount this to zero.
I mean this is meant to be their deck and they are saying they raised $3m as a traction point. As I point out a lot, many decks that get shared are used for PR purposes. Salt + pinch.
They monitor 250 sites. 50 more per day… so they have been doing this 5 days now, or they are just getting better at it?
Platform availability means… they are tracking platforms? Who knows?
This looks like the problem slide. Why is this coming up now? Actually, I think it is their lame attempt at a market sizing slide.
They allude to some sentiment trends to support this random 250m number or which it applies to 90% of people (I’m guessing the other 10% don’t know what the internet is?).
Good and well. Sounds like hippy stuff. Apparently, the market is in $45b risk and compliance market, but who knows as they don’t explain anything.
They introduce the team a little on the last actual slide. Apparently, the team are serious and have had exits. They should have started with that. I mean really, come on.
What is the relevance of the legal expertise?
The last slide is for questions. Sounds like demo day.
What do you think about the deck?
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