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Aaron Carr

๐Ÿ‘ค Speaker
135 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

What was the valuation on that?

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

So we did, we had, it was a safe, we did a valuation cap of 2 million.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

Do you know, honestly,

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

was i think we needed the capital at the time but we've also had a friendly relationship with the business development bank of canada bdc and we probably could have just borrowed the capital as well what we needed to keep running i mean we plowed it all into marketing and sales so it paid some dividends um but you know 300k really isn't a lot in the grand scheme of things so if i were to go back i might have deferred that and maybe just look to an alternative non-dilutionary source

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

Yeah, so we're a team of six.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

I have four software developers, one marketing person slash client support, customer success person, and myself.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

So I'm functionally the primary salesperson.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

My marketing slash customer support does all of our demand gen and handles all the incoming stuff that, frankly, I don't want to touch.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

And then we've got our four full-time software developers.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

So I have, let's just call it a silent partner who's got a minority holding and he's more there as an advisor.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

I call him my corporate Swiss army knife because he does like all of our finances and sort of provides a lot of strategic guidance.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

But I'm functionally the sole, let's say, operating founder.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

So on a fully diluted basis, I'm about 65%.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

So I still have like a good chunk.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

So fantastic question.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

Honestly, I think for us, it comes down to plowing more money into well, intelligently plowing more money into demand generation and possibly starting to build out a bit more of a sales team because we're mostly dealing in the small to mid market.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

The economics are more oriented towards inbound versus outbound.

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

but we are starting to add a lot more sophistication to the platform and starting to get calls from the much larger multinational organizations so those calls are very welcome but it's like we're in that intermediary phase where we still get nervous picking up the phone when somebody huge calls us um we're more just super comfortable in like the sub 1000 uh level uh we can knock those guys out all day but um

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

How do we grow?

SaaS Interviews with CEOs, Startups, Founders
HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees

I think investing more in demand generation.