Echovate Company Profile

Background

Echovate, founded in 2013 and headquartered in Mount Pleasant, South Carolina, is a people analytics company specializing in leveraging behavioral science to assist organizations in recruiting, retaining, and developing successful personnel. The company's mission is to provide data-driven insights that ensure optimal job fit, enhance performance, and foster cohesive teams by revealing individual strengths and motivations.

Key Strategic Focus

Echovate's strategic focus centers on delivering advanced people analytics solutions that integrate seamlessly with existing platforms, such as Salesforce. By analyzing robust datasets, the company offers visual representations of statistical significance and success probabilities, enabling organizations to identify where individuals will be most effective and why. This approach is particularly beneficial in industries like real estate, where understanding team dynamics and individual capabilities is crucial.

Financials and Funding

Echovate has secured a total funding of $750,000 to date. The company generates an estimated annual revenue of approximately $900,000, with a revenue per employee of $72,500.

Technological Platform and Innovation

Echovate distinguishes itself through its proprietary people analytics platform, which utilizes behavioral science methodologies to assess and predict individual and team performance. The platform integrates with systems like Salesforce, providing sales leaders with tools to build, manage, and motivate high-performing teams. Notable technological components include:

Web Analytics: Utilization of tools such as Google Analytics to monitor and analyze web traffic.

Programming Languages: Implementation of languages like JavaScript and Python for software development.

Frameworks and Libraries: Deployment of React for building user interfaces.

Online Video Platforms: Integration with platforms like Vimeo for multimedia content.

Web and Application Servers: Use of Apache HTTP Server for hosting web applications.

Leadership Team

Nate Gabelman, President & CEO: Appointed in April 2021, Nate brings over 20 years of leadership experience, including roles as Chief Customer Officer at HireRight and President of General Information Services, Inc.

Matthew Gough, Founder: With a background in working with Fortune 500 companies on talent development programs, Matthew established Echovate to provide accessible and effective people analytics solutions.

Milt Alpern, Member of Board of Directors: Milt contributes strategic guidance to the company, leveraging his extensive experience in the industry.

Leadership Changes

In April 2021, Echovate appointed Nate Gabelman as President and Chief Executive Officer, succeeding Founder Matthew Gough, who continues to play a significant role within the company.

Competitor Profile

Market Insights and Dynamics

The people analytics market is experiencing significant growth, driven by organizations' increasing emphasis on data-driven decision-making in talent management. The integration of behavioral science and analytics into recruitment and retention strategies is becoming a standard practice across various industries.

Competitor Analysis

Key competitors in the people analytics space include:

SalesTalk: With 15 employees and a revenue of $4.2 million, SalesTalk offers solutions that enhance sales performance through data-driven insights.

unboXt: A company with 9 employees and $1.9 million in revenue, unboXt focuses on leveraging analytics to improve employee engagement and productivity.

Funnel Metrics: Employing 7 individuals and generating $1.7 million in revenue, Funnel Metrics specializes in sales performance analytics.

TopOPPS: With a team of 10 and $2.1 million in revenue, TopOPPS provides predictive analytics for sales forecasting.

APTOLOGY: A company of 14 employees with $4.2 million in revenue, APTOLOGY offers behavioral analytics solutions for talent management.

Strategic Collaborations and Partnerships

Echovate has established partnerships with organizations such as Berkshire Hathaway Home Services, integrating its people analytics platform to enhance recruitment and team development processes within the real estate sector.

Operational Insights

Echovate's strategic positioning in the people analytics market is bolstered by its focus on integrating behavioral science with practical applications, particularly in industries like real estate. The company's ability to provide actionable insights through seamless platform integrations offers a distinct competitive advantage.

Strategic Opportunities and Future Directions

Looking ahead, Echovate aims to expand its market presence by enhancing its technological offerings and exploring new industry verticals. The company's commitment to innovation and data-driven solutions positions it well to capitalize on the growing demand for advanced people analytics tools.