Draft:RivalSense
RivalSense[1] is a Latvian-based startup that uses artificial intelligence to help businesses monitor their competitors. The company was founded by serial entrepreneurs Martins Vaivars and Arturs Prieditis, both alumni of the Techstars accelerator program. RivalSense aims to provide a simple, self-service platform that reduces the time and complexity of competitor tracking.
Background and Founders
Martins Vaivars, a graduate of Oxford University, previously worked for the data visualization company Infogram. Arturs Prieditis, a Cambridge University graduate, held engineering roles at Qualcomm and HP Autonomy. Both founders have extensive experience in machine learning and have collaborated on multiple AI-focused ventures prior to launching RivalSense.
The idea for RivalSense arose from the founders’ frustration with the limited capabilities of existing competitor tracking tools in their previous ventures. According to Vaivars, “Ask any founder, and they will say that properly following competition is a big pain… But doing it is indispensable, since it helps with product direction, sales, and hiring.” RivalSense is designed to simplify this process, enabling executives and founders to stay informed on competitive developments while spending minimal time on the platform.
Product and Services
RivalSense provides users with a weekly email or Slack update, summarising key competitor insights. Rather than requiring users to interact with a new platform, RivalSense delivers its insights in an accessible format. The updates cover a variety of topics, including:
Pricing changes
Product developments New hires and departures Regulatory challenges Supplier and client relationships Media mentions and corporate filings This approach addresses the founders’ belief that busy executives and startup founders prefer not to log into new apps or platforms, instead favoring streamlined, insightful communications.
In describing the service, Prieditis shared a notable example: shortly after RivalSense’s launch, a user discovered that a major competitor had quietly removed a key client’s logo from their website, a possible indication of the end of that business relationship. Another insight showed that a senior engineer at a competitor had left their position, prompting the user to consider reaching out to the engineer for recruitment.
Technology and Approach
RivalSense uses advanced AI to analyze competitors' activities and generate curated insights. Recent advances in artificial intelligence allow RivalSense to evaluate not only when competitor events occur but also to assess their business significance. “We are creating a simple, appealing, self-service SaaS product out of a complex, enterprise-focused product category,” said Vaivars. The platform's AI-based insights are specifically designed to highlight developments with meaningful business implications, reducing information overload for users.
Target Market and Reception
RivalSense currently markets its service to startup founders and mid-to-top level executives in established companies. The company’s approach has been well-received by users, who appreciate the straightforward format and valuable insights without the need to access a separate application. The platform is seen as a time-saving tool that makes it easier for executives to stay informed about competition without dedicating significant resources.