My idle thoughts on tech startups
Objective Logistics & Keeping Things in Perspective
Objective Logistics is taking a pretty sexy approach to a less than sexy, yet massive problem… namely how do you optimize the scheduling of service industry workforces. Objective Logistics has created a game layer on top of very sophisticated scheduling algorithms which increase revenue, save time, and improve customer and staff satisfaction. Part lives in the cloud and part is embedded in point of sale (POS) software systems. The company is starting the revolution in the restaurant industry (there are roughly 1 million in the US), but this same opportunity exists in retail, hospitality, and possibly even healthcare.
Objective Logistics just closed a $1.5M seed round from NextView, Atlas Venture, and Google Ventures, and angel investors. There’re lots of reasons why we’re pleased to be involved, from the market opportunity and product and beyond, but of course team is central for all startup investments.
While raising a new round of funding is a big accomplishment, as many others have pointed out it gives you a shot on goal… it’s not the ultimate victory. Objective Logistics co-founders Philip Beauregard and Matt Grace sent out this illustration immediately after the round was announced which I think keeps this in perspective nicely.
OBJL has made it to base camp so we can eventually take a shot at summitting… but we’re not yet breathing the rarefied air at the top. This team knows the really hard work lies ahead and remains totally focused on that. We’re psyched to help in whatever small ways we can.