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Garen Hess

๐Ÿ‘ค Speaker
179 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

I would highly recommend them to any entrepreneurs looking around for that out there, because I looked at a lot of other firms like lighter capital and others and nothing against the other firms.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

But these guys have been awesome.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

You know, not having worked with some of the other firms, not having done a deal with them, but I don't know for certain, but I would actually say both.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

They had better terms.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

And then Jim Toth and some of the other guys over there have just been incredible to work with.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

As an example, at one point, we were just trying to figure out, you know, what we should do.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

Should we do some more equity?

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

Should we do another round of revenue-based financing?

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

And they just popped up and said, hey, we're super interested.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

We'll help you do a mix.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

And they kind of helped out with that.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

driving a little bit of an equity raise and then also added some additional RBF on top of it.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

Yeah, gross revenue churn's been at about 28%.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

So not as low as we'd like it to be.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

In my last startup, I unwittingly had a 5% annual churn rate, which I didn't realize was so awesome.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

I would be upset about it every day.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

And now that I'm in this company, I'm thinking, wow, if I can get it down to 5%, we're going to be in really good shape.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

Right now, we're at about 19% revenue-based churn, so it covers some of it.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

Well, 19% revenue churn.

SaaS Interviews with CEOs, Startups, Founders
1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise

In other words, you know, we get about a 10% save on the churn.