Pitch Deck Teardown: Nokod Securitys $8M Seed Deck

Gone are the days when you needed a developer to create an app for a relatively simple task . No-code and low-code development can significantly increase development speed and bring simple (and sometimes not so simple) applications to market. I swear half my life is run by Zapier now: make an appointment with me and all sorts of things happen automatically in the background to make sure our meetings are on time, transcribed, and video calls saved under your company name.

However, the ease of building applications that offer low-code and no-code comes with a drawback: in order to function, they must access quite sensitive data. If someone wants to access my data, they can try to hack my email or hack one of the many automations associated with my email account. As more and more applications run on the same underlying architecture and code, they become very tempting targets for hackers and others with malicious intent.

That's where Nokod Security comes in, providing no-code and low-code application monitoring for security vulnerabilities and mitigations.

The company recently raised $8 million from Acrew Capital, Meron Capital, and Flint Capital, and the team was kind enough to share the games they use (slightly modified) with us, so you can take a look below.

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The company left the 21-slide stage intact except for a few sections.

1. cover glass
2. skate team
3. Example application without code
4. "Who uses apps without code?"
5. Macro trend: low code/no code trend
6. Threats and attacks disappear
7. problem slides
8. Threats and swipe attacks
9. Attack vector switch
10. mission slides
11. solution slides
12. architectural slides
13. TAM slide 1
14. TAM slide 2
15. TAM slide 3
16. Swipe to enter the market
17. skateboarding competition
18. verification slides
19. (Edited) Valid slides
20. timeline slides
21. contact slides

three things to love

There's a lot of interesting stuff on Nokod's deck, but also one that I'm a bit confused about. As always, I'll address my questions and comments about OldManYellsAtCloud.gif in a moment. First, let's take a look at the slide that blew me away.

Give me the T sign! Give me one!

OK, I'm not going to write TEAM in the subtitles, but this is an example of a company that knows its strengths. In a startup, the creative team with an unfair advantage is an absolute superpower. Nokode has all the bases covered in this regard:

[2. slide] Great creative team. Photo: Nokod

Both founders have founded and left companies in the field of cyber security. It's a fantastic way to attract the attention of investors. Important experience and a successful exit scream "unfair advantage". Even after reading these slides, I am not at all surprised that this company has been successful in raising money.

Beyond the obvious, this slide shows that the creative team understood what is important in an area: when you have exceptional traction, you make it happen. If not, highlight your experienced team.

Well formulated problem

[9. Slide] An elegant explanation of the problem to be solved. Photo: Nokod.

A good fundraising story explains the problem well and why it's worth solving. Not everything is well covered in this list. That is: without Google, do you know what PII is, or why collecting and storing PII might be so bad?

Companies can take it upon themselves to explain the implications of some of these issues and why low-code apps and no-code apps are so vulnerable in these situations, but I get the overall message: the cost of not adopting code and the cost of adopting low code is that people don't have it. I don't always know exactly what's going on, and when something does happen, it's hard to determine where it entered the criticism system.

A better slide entry than most

[16. slide] Let's sell this thing. Photo: Nokod

This marketing slide presents a clear customer profile: how to reach them, what their business model is, and their geographic location.

Creating a coherent marketing strategy can be very difficult. This is what I discuss the most with my coaching clients. The "build it and they will come" theory works when you're focused on the product, but when you're raising funds for customer acquisition, you can't shrug your shoulders and say, "We'll be fine." "When we get there. you can't They are raising money to run, so .

This marketing slide presents a clear customer profile: how to reach them, what their business model is, where they are geographically and who is the decision maker in the company. I don't know how many mid-sized companies have a CISO or Director of Application Security. I suspect that in many cases these decisions are the responsibility of the CTO, rather than a dedicated and well-defined security role.

However, as an investor, I can look at this and see the outline of the plan. My next question is, "OK, tell me about your process. How do you actually make the sale? The story should be consistent and describe a good sales funnel - something like, 'Prospects come as a percentage if we do Y and Z.' I don't mind answers like that, especially if the company already has paying customers and can verify the sales process they use.

In the next installment of this quest, we'll look at three things that Nokode could do better or differently, along with the entire lineup!