Andrew Fischer

Family office.

Yeah, a group of families that came from automotive wealth based in Michigan.

And

uh what's unique about them is a you know they have deep pockets much like a venture investor but they are much more interested in and us building a scalable sustainable business as opposed to just being a growth story so when we raised our capital on our series a the goal wasn't

To get to a Series B, it was to build a sustainable company.

So we were really excited when we got profitable last year, kind of proved our overall business model.

And now we're really kind of in that scaling and growth phase.

No, it's very much a venture-structured investment.

They just don't happen to be venture capitalists.

So yeah, it's an equity-based investment with the goal for them to cash out upon exit, transfers of control somehow.

So we average about 5% to 7% churn monthly.

Well, it's high for if you look at traditional SaaS, but our licenses are also month-to-month.

And so our churn rate is actually, if you look at it, the cohort of our competitors is very competitive.

Most research that we can find for companies that like us are 10% or more.

And again, that's overall.

We have a lot of clients that sign up and kind of churn out on their own.

And when we isolate them, our healthy churn for the clients we're actually targeting is under 5%.

And again, that's still with a month-to-month license.

Well, again, if we do some of the analysis and we separate out people that kind of sign up for our platform and churn out kind of on their own, I think we'll be at a much healthier churn level.

We're very happy with our churn as it is now when we compare it against our new customer growth, when we look at our lifetime value and our average revenue per client.