N2 Insider

An update from N2

First, here’s the biggest news!

We’ve been really hectic over last few months. We have been pushing in all directions to finalise our Minimal Viable Product (MVP), and after having spent a full week with our developers in Poland last week, we’re happy to announce that we have now delivered our MVP…. Boom! And, as if that’s not enough, we also completed our short, but fun investor video. Take a peek and let us know what you think.

The good, the bad and the ugly
The good:
MVP means that the foundations of the N2 engine are now fully functional. The platform is sitting on AWS (Amazon) production servers, all connected and working. Chat, SMS and Notifications are all auto-pinging off correctly with all the thousands of relationships and interactions between users and opportunities. This functionality was an absolute priority for us so it can start the matching process in order to gather data for future machine learning (ML)…the foundation of everything.
For the soft launch, N2 have several user journeys in two verticals that are fully operational… Secondary funds and company capital raises. We chose these two as they are the most diverse in terms of input and viewing and will allow us to duplicate into further verticals with ease and speed.
The platform offers users to upload, browse and market deals, engage, network and manage the closing of transactions. This is all backed by a suite of tools such as user permissioning sets (the who, what, why, where and when), virtual data rooms as well as collaborative and visibility functions.
The bad…ish:
Getting to this stage has taken longer than expected. Building from the ground up a horizontal platform which will handle 100,000+ users with concrete foundations to handle big data into AI, is a mean task. From mouse clicks, hovers, accepts and rejects, every possible interaction is being clustered and recorded to feed AI. Laying down this framework correctly will go a long way to secure an immersive, fast and responsive interface for our users. Getting this right is key for us.
The ugly:
The realization that 24 hours a day actually goes by really fast and that the services offered by Amazon take a lot more integration than they allude to. All worthwhile because it is an absolutely fantastic service and mostly behind us now.
Finding out that DIFC does not allow for fractional shares and the pain in having
to change the par value of them. This process is underway and once completed all share allocations will be made correctly and sent over. Massive apologies for this huge delay.
 
Short term road map
Over the next two weeks we are working on several things to get the platform ready for full beta testing, including interface enhancements and the code stabilization process. This consists of stress testing all parts (Mongo, Kafka, Kubernetes, etc.) in terms of load and ensuring that there are no open loops that could slow the platform down.
Once these steps are complete, N2 will be inviting select users to join us and beta test. Once we are satisfied, we will concentrate on building the user base for the private equity asset class, and release components that are already built but require integration.
In order of priority, these are:
Linear Matching.
Using users’ investment preferences aligned with uploaded opportunities, we will run conditional queries that will form the basis of matching to start the process.
Analytics Suite.
Over the Beta testing period we will be monitoring all interactions and running value diagnostics that will allow us to display valuable analytics to users.
We’ve already built traction value by scoring opportunities traffic on a weighted basis and taking the variance to all opportunities per asset class. This is in order to display which opportunities are the most popular in their field. Again, over beta testing we will fine-tune the weightings to make sure that the results are accurate.
 
Roll outs
Fund raises.
Almost a replication of Company raises, all the functionality is built along with specifications, this is just implementation.
Secondary directs.
All the functionality is built along with specifications, this is just implementation.
Portfolios.
All the functionality is built along with specifications, this is just implementation.
Auctions.
All the functionality is built along with specifications, this is just implementation.
 
Finalising pre-series A. Route to market
We will start this process immediately with a view of getting on the road early May. We can now demonstrate key features of the platform and highlight the overall vision of the build. This will go a long way in securing a successful funding round and get us out there.
The current raise will fulfil three main areas.
Data-science CTO/CDO. To head up and implement data collection and machine learning and oversee the data science department.
Head of Sales. N2 have already Identified our key person and have developed a full sales plan. We have also specified the software buildout for this area and will fully integrate our own solution into the platform.
Head of Marketing. To ensure that high-quality communications are delivered effectively, efficiently and consistently, whether direct or indirect.
 
And finally, a big thank you
From our amazingly talented team to our supportive stakeholders, none of this would have been possible without you. Sincerely, you are the foundation of this company and we are beyond excited to take the next step in our journey alongside each and every one of you. Let’s do this! Team N2.