George Gallegos

Are you pure SaaS?

It is pure SaaS.

We sell annual subscription and all of our customers pay the annual subscription.

We have to earn their right to get the renewal the following year.

I would say the average is in the 50,000 per year range, which is why we're not similar to a Zapier, but similar to a mule.

The company was launched in mid, I guess it was 2005, and mostly building the product.

Started as open source and had built the product and spent most of the early four years building the technology.

When I came in in 2011, they had had a few customers, but it was really time to build the channel, the marketing organization, the go-to-market activity, service organization.

So we had to basically build the company from scratch at that point, but with the product that was in place.

And then we did re-architect the product for the cloud.

We saw that the cloud was taking off, and we re-architected it at that time, moving from open source to cloud.

Yep, it was bootstrapped and we continued to operate with our own proceeds and our own funding.

And then Salesforce.com was the first strategic investor, followed by Autodesk.

And then last year, I brought in KKR, the growth side, the technology growth fund of KKR.

No, we're burning by design.

We're growing the business.

I mean, the market is growing at a very high pace, 50, 60 percent, depending on who you ask.

And we're growing at 70 to 80 percent.

That's correct.

That's correct.