LaunchNotes Startup Case Study: Next-Level Product Communications

LaunchNotes

LaunchNotes is a California-based SaaS company founded in 2019. It offers a Product Success Platform that centralizes and streamlines product-related communications, including announcements, roadmaps, and release notes. The platform is designed to serve product management teams, marketing professionals, and customer success teams, enabling effective communication of product changes to both internal stakeholders and external users.

• Founding Year: 2019
• Headquarters: California, United States
• Industry: Business/Productivity Software; SaaS
• Status: Active

Business Model

Type: B2B, One-sided, Product

• Clients: Product Managers, Product Operations Teams, Product Marketing Professionals, Customer Success Teams, Enterprise Teams.

It’s Like: Mailchimp, but for product updates.

LaunchNotes provides a platform for businesses to create and manage communications about their products, much like Mailchimp helps businesses manage email marketing campaigns.

With some differences, though:

• Focus: Mailchimp specializes in email marketing, while LaunchNotes focuses on product-related communications.
• Content: Mailchimp deals with newsletters and promotional content, while LaunchNotes centers around changelogs, roadmaps, and release notes.
• Integration: LaunchNotes integrates directly with product development tools and workflows, while Mailchimp primarily integrates with marketing and sales tools.

Problems

• Siloed Communication: Product, development, marketing, and sales teams often operate independently, leading to miscommunication and missed opportunities to leverage product updates effectively.
• Unnoticed Updates: Users frequently miss product updates, diminishing their impact and value.
• Inefficient Feedback Loops: Gathering and incorporating user feedback on product updates is often cumbersome and disjointed.
• Missed Marketing Opportunities: Companies fail to leverage product updates as a tool for user engagement and retention.

Solutions

• Centralized Communication Hub: LaunchNotes provides a platform for creating and managing all product-related communications, including changelogs, roadmaps, release notes, and announcements.
• Targeted Audience Segmentation: The platform allows for creating different landing pages and mailing lists for specific user groups, ensuring relevant information reaches the right audience.
• Feedback Collection and Integration: LaunchNotes enables users to provide feedback on planned features, allowing product teams to adjust priorities and improve updates based on user input.
• Automated Notifications: The platform automates the process of sending notifications about updates via email, messengers, and other integrated channels, keeping users informed.
• Marketing Tool for Updates: LaunchNotes positions product updates as a marketing tool, enabling companies to create anticipation, engage users in beta testing, and share news about improvements.

Founding Story

When and How: LaunchNotes was founded in 2019 by Jake Brereton, Tyler Davis, and Tony Ramirez. The idea emerged from their experiences at Atlassian, where they identified challenges in communicating product changes effectively across teams and to customers.

Problem and Founders: While working at Atlassian, Brereton and Davis observed that traditional release notes were insufficient for conveying the nuances of product updates. Internal teams needed clarity on upcoming changes to prepare adequately, and customers required timely information to understand how updates affected them. Recognizing this communication gap, they envisioned a platform that would centralize and streamline product change communications.

Past Experience: 

• Jake Brereton: Former Head of Marketing for Jira at Atlassian.
• Tyler Davis: Co-founder of Statuspage, a company acquired by Atlassian.
• Tony Ramirez: Co-founder of Statuspage, bringing experience in building tools for effective communication during software incidents.

Why Start the Business: The founders aimed to address the inefficiencies in communicating product changes within organizations and to end-users. They sought to create a solution that would provide transparency, foster collaboration, and enhance the overall user experience during software updates.

First Results: Within the first three months of launch, LaunchNotes acquired approximately 100 active users. Early adopters included companies like Loom, CVENT, OfficeRnD, Drata, and Stytch, who provided positive feedback on the platform’s ability to streamline product communications.

Continued Growth: By 2022, LaunchNotes experienced significant growth:

• A fourfold increase in the number of companies using the platform.
• Nearly eightfold revenue growth.
• Over 500,000 monthly visitors to their landing pages.

Innovation and Technology: LaunchNotes has continually evolved its platform to incorporate advanced features:

• AI Writing Assistant (“Bernie”): Introduced to reduce manual work for product teams by up to 90%, aiding in drafting announcements and conducting sentiment analysis.
• Ideas and Voting: A feature allowing users to collect, manage, and prioritize feedback effectively.
• Project Analytics Dashboard: Provides in-depth metrics across announcements, project subscribers, page views, and feedback, powered by AI-driven sentiment analysis.
• LaunchNotes Control for Slack: Enables teams to submit feedback directly through Slack, enhancing collaboration and response times.

Key Growth Milestones

• 2019: LaunchNotes is founded.
• 2020: Raised a $1.8 million seed round to enhance product development.
• 2021: Released the first version of the platform, focusing on centralized product communications.
• 2022: Secured $15 million in Series A funding, marking significant growth and investor confidence.
• 2022: Launched major features like the AI Writing Assistant and Ideas & Voting, expanding the platform’s capabilities.
• 2023 and Beyond: Continues to innovate with features like the macOS feedback app and enhanced onboarding experiences, indicating ongoing product development and market responsiveness.

Market & Competition

Target Market

• Enterprise Teams: LaunchNotes primarily targets enterprise-level companies that require robust product communication solutions. This includes businesses with dedicated teams for product management, product operations, product marketing, and customer success.
• Specific Roles: The platform is particularly well-suited for professionals in roles such as Product Managers, Product Operations Specialists, Product Marketing Managers, and Customer Success Managers.
• Expanding Market Reach: While initially focused on enterprise clients, LaunchNotes also caters to a broader range of customers, including freelancers, small to large businesses, non-profit organizations, and public administrations.

Market Growth: Several indicators suggest a healthy and expanding market:

• Significant Funding: LaunchNotes has secured substantial funding, including a $15 million Series A round, reflecting investor confidence in the market’s potential.
• Rapid Adoption: The platform has been adopted by prominent companies such as Loom, CVENT, OfficeRnD, Drata, and Stytch, indicating strong market demand.

Potential New Markets: LaunchNotes has opportunities to further expand its market reach by:

• Targeting Specific Industry Verticals: Developing tailored solutions for sectors like SaaS, fintech, healthcare, and education, which have unique communication needs.
• Focusing on Companies at Different Growth Stages: Offering scalable features and pricing plans to attract startups and rapidly growing businesses.
• Enhancing Accessibility: Creating more accessible pricing plans or feature sets to attract smaller businesses and startups.

Number of Clients and Suppliers: LaunchNotes operates on a Business-to-Business (B2B) Software-as-a-Service (SaaS) model, delivering software solutions to other businesses over the cloud through subscription-based pricing.

Notable clients include:

• Loom
• CVENT
• Drata
• Stytch
• CoScreen
• OfficeRnD
• Amplitude
• Correlated
• Kandji
• Quantive
• SpotOn
• Unit
• Buildtrend

These companies utilize LaunchNotes to centralize release notes, align internal teams, and engage customers effectively.

In this model, LaunchNotes does not rely on traditional vendors or suppliers for its core business operations. Instead, the company focuses on providing a centralized platform that streamlines product-related communications, such as announcements, roadmaps, and release notes, to enhance collaboration among product management teams, marketing professionals, and customer success teams.

Competitor Landscape

LaunchNotes operates in a competitive market with two main categories of rivals:

Direct Competitors:

• AnnounceKit: A platform specifically designed for managing release notes, changelogs, and product updates.
• Canny: A tool focused on collecting, organizing, and prioritizing user feedback for product development.

Indirect Competitors:

• Notion: A versatile project management and collaboration tool that can be adapted for some aspects of product communication.
• Smartsheet: A work management platform offering features for project tracking, collaboration, and reporting.
• Pendo: A product analytics platform that helps businesses understand user behavior and improve product adoption.
• UserTesting: A platform for conducting user research and gathering feedback on websites and applications.
• Heap: A digital insights platform that captures and analyzes user interactions to optimize digital experiences.
• FullStory: A digital experience intelligence platform that provides insights into user behavior on websites and mobile apps.
• Trello: A popular project management tool that can be used for basic task management and communication.
• BigTime: A time tracking and billing software for professional service businesses.
• Quantum Metric: A continuous product design platform that uses behavioral data to improve digital products.
• Amplitude: A product analytics platform that helps companies understand user behavior and drive product growth.
• Planhat: A customer success platform that helps businesses manage customer relationships and drive adoption.

Marketing & Sales

Main Positioning Values: Clarity, Alignment, and Efficiency in Product Communication

Website & Socials

• LaunchNotes’ website (launchnotes.com) attracts around 56k monthly visits, with most traffic coming from organic search and direct channels.
• The top visiting countries include the United States, India, Nigeria, and the United Kingdom.
• On social media, LinkedIn stands out among the platforms driving user engagement.

Media Coverage

LaunchNotes has been featured in various media outlets, highlighting its growth and innovations:

• PR Newswire: Announced the Series A funding led by Insight Partners, emphasizing the platform’s expansion plans.
• The Middle Market: Reported on the funding round and the participation of notable investors like Atlassian Ventures.
• FinSMEs: Highlighted the $15 million Series A funding, discussing LaunchNotes’ plans to evolve from a product change communication solution to a comprehensive platform for product success.
• Venture Capital Journal: Reported on the Series A funding, underscoring the company’s position as a product success platform and its backing by Insight Partners.

Marketing Strategies

• Content Marketing: LaunchNotes maintains an active blog, sharing insights on product launches, communication strategies, and industry best practices.
• Product-Led Growth: The platform offers a free trial, encouraging potential customers to experience its features firsthand.
• Community Engagement: LaunchNotes fosters a community of product professionals through webinars, discussions, and feedback sessions, promoting knowledge sharing and collaboration.
• SEO and Organic Growth: By producing high-quality, relevant content, LaunchNotes enhances its visibility in search engine results, attracting organic traffic.

Product & Innovation

Key Features

• Comprehensive Product Communication Platform: LaunchNotes goes beyond traditional changelogs by integrating roadmaps, feedback mechanisms, and targeted communication tools into a single platform.
• User Engagement Focus: The platform prioritizes transforming product updates into engaging experiences, fostering a sense of anticipation, and involving users in the development process.
• Personalized and Automated Communication: LaunchNotes enables businesses to deliver tailored updates to specific user segments and automates the notification process across various channels.
• Seamless Integrations: The platform integrates with popular project management and communication tools like Jira, Slack, and Mailchimp, streamlining workflows and enhancing user adoption.

Financials & Metrics

Details

• Funding and Investments: LaunchNotes has secured a total of $16.8 million in funding across multiple rounds:
  • Seed Round (July 2020): Raised $1.8 million.
  • Series A (June 2022): Secured $15 million.

Investors include Insight Partners, Cowboy Ventures, and Bull City Venture Partners.

• Employee Count: Estimates, ranging from 11 to 50 employees.

Structure & Culture

Organizational Structure

Leadership:

• Tyler Davis – Co-Founder & Chief Executive Officer (CEO)
• Jake Brereton – Co-Founder & Chief Operating Officer (COO)
• Evan Michner – Vice President of Product & Design
• Sal Sodano – Head of Engineering
• Adam Wardlow – Director of Product Marketing

Teams:

LaunchNotes operates with dedicated teams across various functions, including:

• Business Development
• Product
• Engineering
• Design
• Marketing
• Customer Success

Culture

LaunchNotes fosters a culture centered on transparency, trust, and inclusivity. The company emphasizes:

• Openness and Trust: Building a sustainable business where transparency is paramount.
• Work-Life Balance: Valuing urgency while respecting personal time.
• Customer Celebration: Prioritizing customer success and feedback in product development.
• Diversity and Inclusion: Encouraging applications from diverse and underrepresented backgrounds.

Impact & Success

Customer Feedback

LaunchNotes has received widespread acclaim for its effectiveness in enhancing product communication and customer engagement:

• High User Satisfaction: LaunchNotes boasts an impressive average rating of 4.9 out of 5 stars on platforms like G2 and Capterra, reflecting strong user approval.
• Enhanced Customer Engagement: Users have reported significant improvements in customer engagement and satisfaction. For instance, OfficeRnD experienced a 300% increase in engagement after implementing LaunchNotes.
• Improved Communication Efficiency: Customers appreciate the platform’s ability to streamline communication processes. One user noted, “It was easy to set up. We migrated our current changelog and roadmap to LaunchNotes in a few hours and had it up and running in a day.”

Success Stories

Several companies have shared their positive experiences with LaunchNotes:

• CVENT facilitated a $100,000 ARR deal by leveraging LaunchNotes.
• OfficeRnD reported a 300% increase in customer engagement.

• Stytch achieved a 91% open rate on product launch communications.
• Drata: By utilizing LaunchNotes, Drata was able to quadruple its cadence of updates, leading to more regular and meaningful communication with customers.
• SpotOn: The company reported a 300% boost in customer satisfaction scores after standardizing its internal release readiness and enablement workflows with LaunchNotes.
• Infrastructure Optimization: LaunchNotes successfully migrated its infrastructure to AWS, resulting in enhanced performance, improved team confidence in managing infrastructure, and up to 40% lower costs.

Growth & Future

Challenges and Risks

• Competition: LaunchNotes operates in a competitive landscape, where broad productivity tools offer overlapping features and specialized platforms focus on product communication.  Key competitors include AnnounceKit, Canny, and Planhat.  Maintaining a clear differentiation and effectively communicating their unique value proposition will be crucial.
• Market Dynamics: Adapting to the evolving needs of businesses in the product communication space and responding to emerging trends will be essential for sustained growth.

Future Plans

LaunchNotes is innovating around AI-driven product update management, better integration with developer tools, feedback mechanisms, and user experience improvements to support modern software product teams in 2025 and beyond. This matches their mission to modernize the product development cycle for software-powered companies.

The company also actively invests in content marketing and strategic planning to support future growth and client engagement.

Key Takeaways for Entrepreneurs

• Turn the mundane into an event: LaunchNotes cleverly transforms routine product updates, often overlooked, into engaging events. Entrepreneurs should strive to find the excitement in the everyday aspects of their product and communicate it effectively to their users.
• Embrace the power of anticipation: Creating a buzz around upcoming features keeps users engaged and invested in the product’s journey. Don’t be afraid to tease future developments and build anticipation for what’s to come.
• Feedback is your compass, not criticism: LaunchNotes utilizes user feedback as a guiding force in product development. Entrepreneurs should actively seek and embrace feedback, viewing it as an opportunity to refine and improve their offerings.
• Newsjacking for product updates: Positioning product updates as newsworthy events can be a powerful marketing tool. Entrepreneurs should learn to frame their updates as valuable information that their audience would want to consume.
• Turn your product into a media platform: LaunchNotes demonstrates that consistent product updates can be a source of fresh content and engagement. Consider how your product can evolve into a platform for delivering valuable information and news to your users, fostering long-term loyalty.