28 May 2024
Why Neon Invested

4 Min Read

Why Neon Invested in Atomicwork

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Best in Class Team

Second-time founders are very diligent about the market they choose. And they are equally if not more picky about the team they build. And that’s clearly visible in the way Vijay, Kiran and Parsu went about building the team at Atomicwork.

The co-founders of Atomicwork—Vijay Rayapati, Parsu Vijayasankar, and Kiran Darisi—have decades of experience in building and scaling large systems and have held leading roles at Freshworks and Nutanix.

Their combined expertise in SaaS, Enterprise IT, product development, and AI innovation positions them perfectly to revolutionise the ITSM (Information Technology Service Management) and ESM (Enterprise Service Management) sectors.

And the excellence doesn’t end with the three co-founders. Each person of the 30+ member team at Atomicwork is a star performer on their own merits.

A Problem Worth Solving

In modern organisations, IT teams have become the cornerstone for addressing things ranging from employees not being able to access software tools or work information to a customer having an issue with the server.

And though IT teams are focused on enabling internal systems the primary objective of a CIO is to build technology transformation using the IT team. Today an internal IT team is the layer that needs to help build these pieces within the company.

And for them to effectively do that and to interface with all these different teams, companies had to deploy IT Service Management software that needed to be flexible enough.

But many legacy ITSM solutions are inflexible, hard to implement and lack an intelligent layer. Atomicwork is changing that. They’re doing it by building modern, easy to use, AI-first ITSM and ESM solutions.

“Suppose an employee is stuck with something simple like not being able to access a document. Today, he needs to go talk to IT and figure out how he can recover access. Even for simple, mundane things, IT needs to step in. Our vision is to have a virtual assistant for the IT team who can not only answer questions and retrieve information but also deliver it right into the site of collaboration, which could be Slack or Microsoft Teams. We’re bringing support where the employees are. We’re not asking them to log into one more portal,” Parsuram Vijayasankar, Co-Founder and Chief Designer at Atomicwork.

This not only helps the organisations in modernising their service layer but is also making employees more productive at the same time.

Rigorous Approach to Building Products

If calculating TAM with just a top-down approach is a mistake, then building a product with a top down approach is a blunder. From day one, the team at Atomicwork focused on understanding the use cases and pain points of the customers and prospects really really well.

They did 50+ customer interviews during the first six months, and during this time they didn’t touch a single piece of code.

They pursued a hard but right path when it comes to building products. A bottom-up rigorous approach rather than a theoretical top-down approach. They could have been “inspired” by an incumbent or used the ITIL framework or repurposed a project management framework which few existing players have done today.

But that’s not how you build great software. And in the age of AI, only the startups who build great software can win.

The rise of Al means *great* software is necessary again. After spending all day looking at demos so far today, I can say resolutely: Founders must learn how to make good user experiences again. I can tell immediately. I only want to fund people who can make great software.“Nobody is actually building a modern ITSM solution from the ground up. But we’re building it for ITSM first. We spent months talking to customers before writing a single line of code. We’ve figured out the use cases and the pain points of the customers. We have built the modern framework for service management softwares. And now we can use the same learnings and framework for enterprise service management solutions,” Vijay Rayapati, Co-Founder and CEO Atomicwork.

Proud to Partner with Atomicwork

Neon’s investment in Atomicwork is a testament to our confidence in Vijay, Parsu & Kiran and their vision for a modern, AI-driven ITSM and ESM solution.

With a deep understanding of the customer’s pain points, a proven track record of building large applications, and a product poised to capitalise on significant industry trends, Atomicwork is ready to transform the ITSM and ESM landscape.

We’re excited to back Atomicwork on their journey to become a leading player in this space while going after a large market.

Listen to this episode of The Neon Show to learn more about Vijay’s entrepreneurial journey and the origin story of Atomicwork

Founder's Word

As a startup founder, I’m grateful to Sid and the Neon Fund team for their unwavering support during our early stages. They provided us with capital and became our guides, champions, and partners. Neon Fund is not just a believer, but a truly great partner. Their investment goes eyond money-it’s an investment in our potential, vision, and journey.
Vijay Rayapati
Co-founder & CEO Atomicwork

Siddhartha Ahluwalia

I am Managing Partner at Neon Fund, B2B SaaS Fund investing in pre seed and seed stage B2B SaaS companies built by Indian founders and building for US Market. I am also host of Neon Show podcast, which I & Nansi started in 2018, one of the most listened podcast in the Indian Startup Ecosystem. I started Adddodoc, B2B SaaS CRM for Pediatricians in 2012, which got acquired by Sheroes in 2017. In 2019 I worked for VC firm Prime Ventures and in 2020 I worked for Amazon Web Services as the Head of SaaS Ecosystem for India for Startup BD India team My skills are starting companies from 0-1, and Go to Market in the US for B2B SaaS startups from 0 to $10M ARR is my forte. We are the only few VC funds globally that are practitioners of GTM ourselves.

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