Interview With Eliott Mogenet, Co Founder of Safary
Get ready to be blown away by the latest edition of Founder Spotlight! We are thrilled to introduce you to Eliott Mogenet, the co-founder of Safary, the groundbreaking, privacy focused web3 analytics platform. Join us on an exciting journey as we explore the story behind Safary and how it’s changing the face of Web3 analytics.
Can you provide an overview of Safary and how it is reshaping the marketing stack in Web3, particularly focusing on analytics and attribution?
The vision of Safary is to create an alternative to cookies, providing a privacy-friendly method for tracking users on the web. We initially focused on the web3 market due to the inefficiencies present in the current marketing practices within this industry. On one hand, user data such as sessions, countries, and IP addresses exist in web2. On the other hand, transaction data, like on-chain events, resides on the blockchain. Safary bridges these two worlds, enabling the creation of a complete marketing funnel.
What inspired the founding of Safary, and what gap in the market did you identify that led to its creation?
In February 2022, we launched the first web3 growth community. This provided a space for marketers in web3 to gather and reverse-engineer tactics for growing their products. However, after a few months, we realized that these growth leaders were lacking the basic tools necessary for their jobs. As a result, we made the decision to build these tools ourselves.
How does Safary’s platform help Web3 teams understand metrics like marketing Customer Acquisition Cost (CAC), channel Return on Investment (ROI), and customer Lifetime Value (LTV)?
We have completely rebuilt “Google Analytics” from the ground up to support web3 capabilities. Unlike Google Analytics, we can provide the cost of acquiring a wallet (CAC) and link it to on-chain revenue (LTV). Implementing this on top of Google Analytics would require months of data engineering work. Furthermore, Google Analytics isn’t designed to support crypto-native marketing strategies such as quests, crypto ads, affiliate programs, and airdrops. In contrast, we integrate directly with those tools to give the most accurate metrics.
Could you share some insights into Safari’s community-first approach and how it supports collaboration among Web3 growth leaders from various companies?
The Safary growth community was established in 2022 during the previous bull run. Today, it’s the premier destination for marketing leaders in Web3, boasting over 500 members from top industry companies. We create content to educate growth leaders and facilitate networking through weekly community calls and events. For instance, we organized a summit at ETH Denver in March. We believe Safary offers a valuable space for people to connect. To illustrate, two members who met during the first batch have since founded a company together!
What sets Safary apart from other analytics and attribution platforms in the Web3 space, and what unique features or capabilities does it offer?
At Safary, we committed very early to a privacy-friendly version of user analytics. Our first employee holds a Ph.D. in data privacy and we built our product with innovative ways to catch user data. We don’t use cookies or other intrusive methods, we don’t store the IP addresses.
What are some of the challenges Safary has faced in navigating the rapidly evolving Web3 landscape, and how has the company addressed these challenges?
The web3 landscape is still maturing and it can be challenging to convince growth leaders of the importance of robust marketing campaigns. To address this, we have opted to provide more data for “micro-marketing”. This approach allows leaders to track the user journey of the most affluent wallets and engage with them directly.
Could you share any success stories or case studies of Web3 companies that have benefited from using Safary’s platform for analytics and attribution?
Several users in the DeFi segment, such as Teller and IndexCoop, were able to access multi million wallets they previously missed, thanks to Safary. This helped them better focus on their valuable customers.
How does Safary prioritize user feedback and incorporate it into the ongoing development and improvement of its platform?
Our product iteration is the two steps. First, we use Telegram to communicate constantly with our users on Telegram. We discovered early that Telegram was the best way to get user feedback in our industry. Then, we prioritize user feedback on our weekly roadmap. So we can iterate quickly.
Congratulations on closing your pre-seed funding round! Can you share more about Safary’s recent fundraising journey?
We raised a $2.4M round led by top VCs in the industry: Lemiscap, Arca, SevenX, and 20+ angels. Looking backward, our community has accelerated our fundraising. Our first believers and angel investors were community members. They helped build credibility and momentum on the project, which ultimately caught the attention of VCs and institutional investors.
How does Safary maintain flexibility in its cap table structure to accommodate future growth and potential changes in ownership dynamics?
We only raised a Pre-seed for now (with top VCs in the industry and 20+ angels) so we’ll be able to raise new rounds in the future to grow the company.
What are Safary’s plans for future expansion or product development, and how do you envision the platform evolving to meet the changing needs of Web3 marketers?
Web3 social perspectives are currently intriguing, particularly with apps built on Farcaster social graphs. We believe this could evolve into a potent marketing strategy. Our plan is to develop new marketing features in Safary to monitor Farcaster social graphs and conduct marketing experiments using Farcaster Frames.
Finally, what advice would you give to other founders looking to build a community-driven platform in the Web3 space, based on your experience with Safary?
Positioning is crucial. Safary succeeded because we were pioneers in the web3 marketing space. Nothing like it existed before. Therefore, my advice is to find a niche where demand is unmet. This way, users can immediately see the value of the community or platform.
