AI-Driven Deal Sourcing
Niilo Pirttijärvi, drawing from his rich experience at McKinsey, has co-founded Inven, an AI-driven startup revolutionizing the M&A space by offering fast and accurate identification of niche companies for acquisition.
Despite the challenges of assembling a skilled team, securing funding, refining the product, and customer acquisition, Inven successfully raised €1.5 million in funding through a systematic approach towards potential investors.
As the founder of a global startup, Niilo emphasizes the importance of work-life balance, highlighting his own practices of getting adequate sleep, keeping weekends free, and clearly distinguishing between work and personal life.
Genesis and Evolution
Being exposed to a wealth of knowledge and experiences at McKinsey—working primarily with private equity funds on due diligence, transformations, and proposals—helped Niilo to navigate various industries, identify acquisition targets, and analyze competitors, skills that have been invaluable in contributing toward the development of his startup's unique value proposition.
With his co-founders, Niilo created Inven, which addresses a key pain point in the M&A space: quickly and accurately identifying niche companies for acquisition. Inven’s AI-driven deal sourcing software scans company websites, allowing users to compile comprehensive lists of off-market companies more efficiently than traditional methods.
Strategic Shift and Global Leadership
Initially, the company offered consulting services alongside software development. However, as the product matured, Inven shifted to a software-centric model. The vision is to include all the world's companies in Inven’s database, providing efficient market analysis with AI. While the initial focus is on M&A professionals, Inven plans to extend its service to small and mid-market companies.
At one point, the team was distributed across San Francisco, Helsinki, and India. Managing a global team can add another layer of complexity, demanding adaptability and strong communication skills. Today, the development team is based entirely in Finland, resulting in a more streamlined operation.
Overcoming Challenges & Staying Cutting-Edge
Building a successful startup comes with its fair share of challenges. From assembling a skilled team, securing funding, refining the product, and acquiring customers, the team at Inven has tackled these obstacles head-on. Their systematic approach to contacting potential investors raised €1.5 million in funding.
Niilo and the team stay informed about AI advancements through Twitter, Medium articles, and other online resources to remain competitive. He's excited about incorporating technologies like GPT into the product to enhance its capabilities.
As a startup founder, striking a balance between work and personal life is vital, and Niilo makes it a point to get enough sleep, keep his weekends free, and maintain a clear distinction between work and personal life.
Niilo Pirttijärvi's journey from McKinsey to building a global AI-driven startup has been filled with lessons and growth opportunities. As he continues to expand his services and incorporate advancements in AI technology, he looks forward to contributing to the M&A industry and providing innovative solutions to his clients. His story inspires CEOs and business leaders who strive to revolutionize their industries with cutting-edge technologies and bold visions. With leaders like Niilo at the helm, the future of M&A is set to become more efficient, data-driven, and transformative than ever before.
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