In late 2021, Monte Carlo sought to build momentum in anticipation of its Series D funding in early 2022, which would take the company to stratospheric new heights, allowing it to join the ranks of other data unicorns such as Databricks, Starburst and Fivetran.

But what should have been a time of celebration turned into an extended period of uncertainty due to the market slowdown. In 2022, the supply chain crisis raged on, Russia invaded Ukraine and inflation rose to unprecedented heights globally. In short, the market was in shambles.

While the company wanted to create buzz around its financial milestone, it needed to be mindful of the financial plight in the world. So, Monte Carlo turned to PR firm Bospar and its integrated marketing and public relations services for help to navigate the delicate situation.

Bospar immediately began formulating a PR strategy that would best serve the data observability platform company’s needs while being conscious of the current state of the market. The Bospar team was tasked with four objectives for this critical PR program:

• Manage the client’s PR ahead of the Series D funding
• Lead the announcement strategy
• Secure top-tier coverage
• Launch the data management company into unicorn status

Media coaching

Bospar began working to prepare for the company’s funding in early January while seeding the market well ahead of the big announcement. The Bospar team provided PR counsel about how to approach the media during the market slowdown. That way, the client could make a splash with the funding news while being considerate of the climate. The former journalists on Bospar’s staff shared their personal experiences and professional perspectives for how best to approach this situation, building trust with the client and ensuring that the PR program for the company was successful. Bospar’s PR counsel was that the funding announcement should be made in May of 2022.

Targeted media outreach

The public relations team identified top-tier targets, including Forbes, TechCrunch and Bloomberg, to which to provide specific exclusives, working with the client to hand pick key reporters and decide on what would be offered. Bospar also collaborated with journalists and the client to ensure all rolling exclusive offers were successfully executed.

Additionally, the PR campaign delivered embargoed news to a wider audience and followed up with reporters (using Bospar’s trademark Politely Pushy approach) before, during and after announcement day to keep the client top of mind. Bospar engaged with the media regularly, ensuring the client’s presence in the space was consistent and thoughtful.

Thought leadership

To boost Monte Carlo’s visibility before the announcement, the public relations strategy included a steady cadence of media engagement using the company’s product, customers, surveys, momentum and, most importantly, thought leadership. The Bospar PR team worked with the client’s team to secure contributed content opportunities, identify and apply for relevant speaking and awards opportunities, and establish co-founders Barr Moses and Lior Gavish as data observability experts and have them engage with media often.