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Derek O'Carroll

๐Ÿ‘ค Speaker
222 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

We're at 112 as of this morning, and we're running a sort of sustainable growth profile.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So what I mean by that is, as I said earlier on, we're shooting for 40% our growth this year.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And we have a plan to get to about 180 people by the end of the year.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So it's quite an aggressive ramp.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

The two main areas of investment are the go-to-market teams, but also engineering.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And I'm not necessarily building new features out because we've got a very big platform and going deep.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

and focusing on quality workflow optimization automation and better lowering the cost of integration from other platforms to me um so it's it's it's more of an evolution play now talking about capital before we wrap up here i think you guys did a 23 million dollar round in december is that right 33 million dollars yeah 33 yeah so what's that mean fully raised all in how much of the company raised

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

We've raised 71, I think, in total since the company was started in 2008.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

But since my tenure, I essentially relaunched the business in 2017.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

That brings us to 39 million.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

That's the way I look at it.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

When we hit the reset button.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And then, yeah, so of the 33 million, last year we reached break-even profiles.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

We weren't burning any cash, which was a big... Oh, congrats.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

That was a huge goal for us to get to.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

And so we're just managing that, hence the sustainable growth.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

I could have gone for higher growth, but it would have burned more and I wasn't comfortable with that.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

I didn't want to go back to high burn profile.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

So of the 33 we raised, we're going to deploy a third of it into working capital improvement into the business.

SaaS Interviews with CEOs, Startups, Founders
Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY

We're going to keep a third of it aside for some acquisitions that we're looking at.