Unlike the big tech companies based in Silicon Valley, Eternity is a startup working in WebRTC telecommunications solutions that develops all its activity in Segovia, a provincial city located in Castilla y León (Spain). After six years of developing and perfecting its proprietary technology based on R&D, Eternity has opened a round of financing to boost the growth of its business model, generating a differential impact on the metaverse.
With this value proposition, the company is immersed in an ambitious growth and development plan that is catching the attention of investors in the Spanish entrepreneurial ecosystem. Part of the attention that Eternity is receiving is explained by the projects that the company has developed for big corporate names like Telefónica and the confidence placed by the Government of Spain and the Junta de Castilla y León in the startup from Segovia.
Javier Arranz, CEO of Eternity, is determined to change the paradigm of the technology sector, competing with large technological leaders in the communications sector such as Zoom, Teams, and Skype. Novobrief spoke to him about the challenges that a startup like Eternity has to face in a small city, the opening of its financing round, and the company’s value proposition in the middle of a downturn.
On patience in small cities
Growing a technology startup in a provincial city such as Segovia, in the case of Eternity, is undoubtedly a challenge of considerable dimensions. The lack of infrastructure and the centralization of many services in large capitals such as Madrid or Barcelona is one of the main difficulties that these companies have to face.
If we ask Javier Arranz what advice he would give to startups in the provinces seeking to compete with the world’s big leagues, he is clear: “Without a doubt, patience. In the provinces everything works slowly, it takes a certain amount of time for people to understand what we are working on and it even requires a greater effort to make the business model known. Therefore, I would assure those entrepreneurs in the provinces that achieving your goals is possible, but they should not forget that everything takes time, even though it may seem complicated”.
Today’s startups are characterized by rapid growth that sometimes overwhelms the management capacity of their founders. “That is why Eternity is a slow maturing company with the potential to become a unicorn. We have been developing this project for six years in order to have the capacity and resources to offer a tailored solution for the new problems posed by communications for companies,” explains Javier Arranz.
Scaled development as key to success
Since 2016, Eternity has managed to become a tool that allows customer service in a matter of milliseconds, and all from the browser; without the need to install complex programs. Javier Arranz tells us that “the key to all this is the know-how of the team that makes up Eternity, which has opted for slow and scaled growth to achieve sustainability in its business model. Something that, on the other hand, has become our company’s value proposition”.
In recent months, Venture Capital has experienced a sharp decline as a result of the difficult economic situation in Spain and the global economy. However, Eternity believes that this will not be a problem when it comes to raising financing to drive the growth of its business model.
Javier Arranz points out that “Eternity has managed to solve 99% of the problems of the metaverse in terms of communications. We believe that this will be a determining factor in obtaining financing for our project. As anticipated by the media and experts in the technology sector, the metaverse will experience exponential growth in the coming years, and our company has the capacity to respond to the new needs that will arise in the future”.
Likewise, in view of this issue, Eternity has a clear objective that could be the key to success in obtaining financing, despite the circumstances: to obtain 1% of the business currently capitalized by companies such as Zoom. “This is a goal that, a priori, might seem modest. However, this would lead to very high growth of our company. We have the tools and resources to do so, something that will undoubtedly motivate investors given Eternity’s solvency. If we achieve it, we will become the next unicorn of the technology sector”, stresses Javier Arranz.