Watch as Paloma Health’s founder and COO Marina Tarasova discusses how Growth Scanner led her team to grow its data-centric practice as the company flourished.
A startup’s initial Growth Scan from TheVentureCity kicks off a long-term relationship between our companies centered on using data to understand what drives the business.
With Paloma Health, a US-based healthtech startup focused on hypothyroidism, we saw in our first Growth Scan a company with strong revenue growth but difficulty retaining customers. Separating the signal from the noise, the insights showed an opportunity for Paloma to build a community, adopt a recurring revenue model, and grow customer lifetime value (CLV) to boost the value of the business.
Upon writing our first check, Paloma and TheVentureCity worked together to define the key elements of the business strategy and construct a data collection and visualization stack. Combining rigorous data analysis with fast-moving product iterations forced the Paloma team to “build new muscles.” Once they got the hang of it, the results followed quickly. Customer acquisition, conversion rates, referrals, and revenue retention all began trending up. Having transparent dashboards to display their results enabled the entire company to align on CLV as its north star metric, and they watched as their CLV outpaced benchmarks from comparable startups.
With a growing data team and Growth Scanner as an essential tool in their process of looking for greater insights, Paloma Health continues to rise.