A Product Innovation and Market Expansion Journey

As a midsize data management and an Internet of Things (IoT) control company, Canopy Tools Group (CTG) worked with Gartner to build a customized, scalable growth strategy that would facilitate market expansion into new regions and industries. Driven by a planned IPO in 2022, CTG leveraged Gartner expertise to consolidate and optimize CTG’s product strategy and portfolio, improve internal processes and structures while boosting its brand recognition, with the ultimate goal of delivering value to its customers and shareholders.

Most critical priority

Driving hypergrowth in time for CTG’s intended IPO in 2022 by:

  • Delivering revenue growth and market expansion into new geographies and industries, as well as new product capabilities
  • Consolidating numerous disparate companies with divergent products into one company underpinned by a streamlined product strategy and unified approach to the market
  • Building a cohesive brand with strong product messaging to boost brand recognition
  • Establishing a more resilient corporate governance structure, focusing on ongoing due diligence and compliance throughout the company

How Gartner helped

Through its long-term collaboration with Gartner, CTG has:

  • A go-to-market strategy and distilled product offering with concise messaging of each product’s capability and the value to customers based on needs
  • Consolidated a group of entities into one unified entity
  • Received guidance on how to approach targeted accounts
  • Leveraged Gartner analyst calls, tools and research to improve decision making around acquisitions and capital raising
  • Validated its current product roadmap with recommendations on what to focus on from an IoT and hybrid cloud standpoint
  • Leveraged relevant quantitative insights and qualitative Gartner insights to make informed decisions leading to real business outcomes

Business impact

With Gartner support, CTG was able to: 

  • Unify six disparate companies into one — a powerful entity that’s gaining market traction daily
  • Establish a new corporate structure that will support market expansion and help deliver better client outcomes
  • Build a distilled, targeted approach to branding, messaging and product offerings
  • Gain credibility by providing succinct investor pitches and presentations
  • Achieve a pre-IPO capital raise of $21 million, setting the company up for success in its bid for the IPO in 2022
  • Identify opportunities to grow existing accounts through an ABM approach

Industry:
Information Technology

Revenue:
Approx. $17 million

Employees:
70

Contact:
Chief Executive Officer

Achieve your most critical priorities with Gartner for Startup CEOs

[The] Gartner analyst has been pivotal to the whole process as a corporate strategist and mentor, and as a leader on how to drive the business forward. The advice provided is some of the best I’ve ever received in my corporate career.

Craig Adams

Chief Executive Officer, Canopy Tools Group

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