Myriota in LatAm and ASEAN

Myriota are a disruptive player in IoT connectivity, enabling ultra, low-powered sensors to connect globally through satellite.  Headquartered in Adelaide, Australia, the company was considering how to capitalize on their demonstrable success in Australia and as well as in North America to enter new markets.  Initial discussions suggested that both Latin America and ASEAN were important regional targets.  

Latin America was being run capably from the U.S.  The lead queue was beginning to build across the region and there was interest in initial proof-of-concepts in key markets.  Importantly actual sales involved a parallel challenge, as a small slice of requisite spectrum would need to be secured from local authorities, in each new national jurisdiction they wanted to operate in.  Fortunately, this was something Myriota had core expertise in having successfully navigated the challenge in many other global markets.  

Often companies considering such a challenge might initially think to speak with local resellers to see about driving business forward.  Conversely, they might simply decide to get on a plane and fly to Sao Paulo or Buenos Aires, and begin meeting candidates to hire, discuss incorporating an entity with a local law firm and set up shop with some committed hires.  Both are reasonable alternatives, though the hit rate on the prior is often wanting; will a local reseller properly prioritize your initiative?  Incorporation meanwhile is a significant commitment and unless you have thought through the contingencies and the pipeline prospects rigorously, it can prove costly to extricate oneself from, if the expansion proves anemic. 

Fortunately for BYG Advantage and for Myriota, this is precisely the time we began speaking.  A mutual contact had afforded us a warm introduction and a good rapport was quickly established between the company’s executive management.  BYG had originally proposed a regional sales and technical lead to drive sales across Latin America.  During an in-person meeting in the U.S. east coast, the Myriota CEO suggested something different.  Rather than run the vast region with an individual he preferred to lean-in.  We agreed on a plan to staff salespeople in Chile, Argentina, Brazil and Mexico, while in Southeast Asia we’d place one resource to start in Malaysia.  

As usual, we’d have a lot to learn on this new technology.   BYG had no dearth of experience ramping enterprise software accounts, but working with a satellite-based solution was certainly going to be new.  We pride ourselves on being nimble and learning new technologies and new business models quickly.  This, as technologies notwithstanding, many of the fundamental aspects of working with SMBs holds true across different industries.  We established a weekly call with the client to establish and manage advancement of the pipeline and fortuitously were greatly aided by some key managerial support from the Myriota team and soon we had a credible sales funnel and lots of experiential learning within and among the members of our team.  

Six months into the assignment it has proved to be a particularly auspicious undertaking.  Multiple proof-of-concepts have begun in every market under management leading to initial deals in a number of different verticals.  With particularly strong support from the Myriota team, we’ve overcome logistics and policy hurdles and shared successful new use cases across the team to broaden the approachable market.  BYG have invested in additional resources in existing markets and initial staffing in new markets like Thailand and Kenya, while at the same time Myriota have made significant additional investments to better support the momentum.  Both companies are looking forward to anchoring this success and enjoying a significant harvest for 2024 and beyond. 

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