Shelf.io is a platform that provides answer automation to help distributed workers to find answers they need instantly. It is a technology company that develops solutions for teams that are not within proximity to one another with a modern method for gaining access to knowledge that also adheres to strict security standards. If you're not yet familiar with this company, it's worth knowing whether you're an investor or a business owner who could benefit from its products and services. Here are 20 things you probably didn't know about Shelf.io to bring you up to speed.
1. Shelf.io is a knowledge management SaaS enterprise
According to Crunchbase, Shelf.io is a knowledge management provider. The platform that it offers is technology-based and it provides employees who work on teams to access relevant information quickly and efficiently, so everyone is working on the same page. Shelf provides solutions in a software format that qualifies it as a Software-as-a-Service provider that serves companies of all sizes.
2. Shelf.io is still a young company
Shelf.io has not been in operation for long. It was founded in 2015, which means it is entering its sixth year of business. It's still a relatively young company, but it has achieved a high level of success in the short time that it has been in operation. The legal name of this company is GemShelf.io, but it is commonly known as Shelf.io. Shelf.io is headquartered in Stamford, Connecticut.
3. The core executive leadership team at Shelf.io is small
There is a small core executive leadership team that governs the activities at Shelf.io. It is comprised of three executives who are supported by a larger crew of executives and managers. Colin Kennedy is an enterprise sales executive. Sedarius Tekara Perrotta is a founder, the chief executive officer, and the head of innovation. Tobias Jaeckel is a founder and the chief technology officer.
4. The board of directors has two members
There are two members listed for the board of directors of Shelf.io. Rexhep Dollaku joined the board of directors in February of 2020. He is a partner at Base10 Partners. He currently serves on 5 boards of directors in advisory roles. David Olk joined the board of directors as an advisor in June of 2018. Mr. Olk is Chairman Emeritus at Voray with one portfolio company. He currently serves on 12 boards of directors in advisory roles.
5. Shelf.io uses a complex array of technologies
The Shelf.io website is powered by a complicated group of technologies. It actively uses 76 technologies to provide a smooth and seamless experience for its visitors and users. These technologies are distributed across 65 technology products and services. Some of them include jQuery, Google Analytics, HTML5, iPhone Mobile Compatible, Viewport Meta, and dozens of others. Although Shelf.io has not disclosed the annual overhead costs for IT from experience we know that the vast number of technology products and services it uses can easily amount to between hundreds of thousands of dollars to a few million dollars each year.
6. Shelf's monthly visit rates are in decline
Shelf's number of monthly visitors has declined by 13.42 percent over the past 30 days. The total number of unique visitors to the website was 18,283. Although the conversion rates for visitors to the site were not disclosed this is still a healthy number of people who are showing interest in the products and services provided by the company. This number has resulted in Shelf.io achieving a ranking of 832,980 of the millions of websites registered on the world wide web.
7. Shelf.io is the most popular in Peru
Shelf.io is an American company, based in Connecticut, but it's been visited the most often by people who live in the country of Peru. Sixty-six percent of the web traffic for the website comes from this country with a monthly visits growth rate of 26.02 recent. This is followed by seventeen percent of the web traffic coming from the United States with a decline of 38.85 percent over the past 30 days. Eight percent of the web traffic comes from visitors from Romania with a decline of 47.55 percent over the past 30 days. Six percent of the web traffic comes from people in China, and two percent from France.
8. Shelf.io is a venture capital-funded business
Shelf.io has participated in three rounds of venture capital fundraising. The most recent round of Series B fundraising closed on August 23, 2021. The total amount raised for Shelf.io is $60.7 million.
9. Shelf.io has attracted multiple wealthy investors
During times when it's difficult to find companies that are willing to back startups, Shelf.io was successful in attracting ten investors. The most recent investors to join in the fundraising are Connecticut Innovations and Base 10 Partners. They are joined by Tiger Global Management, Insight Partners, Contour Venture Partners, Austin McChord, Outsiders Fund, Craig Tooey Courtemanche, and two other investors who have opted to remain anonymous. Four of them are lead investors. This strongly suggests that there is high investor confidence in the likelihood that Shelf.io will prosper and deliver a strong return on investments in the future.
10. Shelf.io is a privately held enterprise
Shelf.io is under the control of its co-founders/owners. Its investors also have a stake in the future profits of the startup, although the precise details of the agreement for the investments have not been disclosed. You won't' find Shelf.io listed on any of the public stock exchanges, although it would make a nice inclusion to diversify portfolios. Our research so far has not uncovered any mention of taking the company public shortly, but they may decide at some point to file for an IPO.
11. Shelf.io integrates intelligently
According to Techcrunch, the software solutions that Shelf.io provides for its clients is a plug-in software that integrates with the established information systems of the company. It learns from the information that is contained in the IT systems and categorizes the data to provide employees with answers when they type in the questions. It searches the available information and synthesizes it for a quick answer to a related question to the available information in the system.
12. Shelf's products are for staff and customers
The information that Shelf.io's software solution accesses can be used by companies and their workforce. It can also be tailored to provide fast answers to queries by customers of the clients. Shelf absorbs information from legacy knowledge management platforms, Salesforce, SharePoint, Zendesk, and others. The software provides support staff with answers to questions asked by customers to help them provide fast answers in real-time. Customer service is the vertical that Shelf.io has chosen to start with.
13. Shelf.io is planning to expand its verticals
The CEO and co-founder of Shelf shared that the company has a new target industry for its software solutions. It is planning to go after the sales market industry. Software is developed to provide sales marketing staff with written proposals for deals as well as other content that is related to their regular activities. It will provide them with tools that allow them to access specific information more quickly. Shelf is an intelligent software that can learn from the activities that the technology engages in and it gets smarter by retaining the information and building on that. It is assumed by the engineers that the software will increase in its learning ability and will improve over time, as an added bonus.
14. Shelf.io is planning to expand its workforce
The Shelf.io workforce is currently comprised of around 100 staff members. Leaders at the firm have set a strategic plan in motion to grow the company and to increase the size of its workforce as a part of building the infrastructure. They hope to double the size of their workforce by the end of 2021. If all goes according to plan, they plan to double that number again for the upcoming 2022 year.
15. Shelf.io will hire machine learning techs
The latest press release for Shelf.io explains that there are plans for Shelf.io to hired more professionals who have expertise in the fields of data science and machine learning. Although they've received a large influx of funding, these types of educated and professional workers are expensive to employ. This is part of the reason why the recent fundraising round was necessary. The company plans to scale these hires as quickly as possible to reach its established goals for growth and expansion.
16. Shelf has a unique marketing method
The growth of Shelf.io is in part because of the type of customers it has attracted. The statistics from analytical data obtained for the company show that the clientele of Shelf.io tends to be sticky, and they stay with the software solutions because they work. There is no reportable churn, and those clients spread the news about Shelf.io by word of mouth. The client base is growing on its own organically. The net dollar retention for Shelf is reported to be 130 percent because of the customer retention and the word-of-mouth referrals that bring in new clientele. This has resulted in rapid ARR growth.
17. Shelf.io uses a proprietary technology system
The specialized machine learning system that Shelf.io uses is called MerlinAI. It's a type of artificial intelligence technology that appears to be getting smarter through advanced machine learning that builds on its base and continues to grow in its degree of intelligence. This further helps companies to provide help in reducing the time spent for onboarding activities and resources and lower the overall cost of training new and existing employees. The potential for saving in overhead costs and enhancing net revenues is one of the most attractive aspects of the software.
18. Shelf hasn't yet launched its hiring campaign
According to LinkedIn, although Shelf.io has plans to double its workforce by the end of 2021, it hasn't yet launched that campaign. When we checked up on the number of openings that the company is advertising through LinkedIn we saw that there are just three positions open for account executives. These are distributed through various parts of the United States in key cities. They are also remote positions that can be done from anywhere there is internet access. It's assumed that the Covid-19 pandemic is a factor in moving ahead with the new hires.
19. Shelf.io goes the extra mile for training clients
There is a learning curve associated with using the software solutions that are provided by Shelf.io. This company goes the extra mile for its customers by providing live webinar training services. These online training episodes are designed to provide the stakeholders with a live instructor to help them learn how to use the technology and also how to get the most out of their purchases. It goes the extra mile to provide a live person via live stream with interactive webinars.
20. Shelf.io is a company to keep your eye on
Although Shelf.io is currently a privately owned company that is funded by private investors, it's still one that is worth keeping your eye on. Should the day come that the leadership decides to take the company public, it could be a stock that is worth considering for diversification of your investment portfolio. So far, it's gone over and above expectations. If Shelf.io continues to grow and expand on its current trajectory, it could become the next leader in knowledge management services with multiple vertical markets available for continued growth and expansion.
Written by Allen Lee
Read more posts by Allen Lee