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Heath Wells

๐Ÿ‘ค Speaker
166 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

So I think we were early and really the B2B commerce market has really just picked up this last 12, 18 months.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Yeah.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Total customers today is a thousand on the brand side.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

So a really amazing number.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And on the retailer side, it's 400,000.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Okay.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Correct.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Yeah.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

So we just announced a new raise of $15 million in growth capital.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

So it takes our total raise to close to $40 million.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And what's exciting about this most recent raise, although it's our largest raise, it was actually our quickest.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

It took 90 days from actually first meeting to close.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

So again, just a proof point that the tipping point is here and people are acknowledging it.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

All operating.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

We're, you know, we're, we're in this, we, you know, when it's, when everything is kind of, you know, unfolding in front of your eyes, it's about game on and, and, and really putting it to work on, you know, engineering, customer success, international expansion, sales and marketing.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

So to be honest, we can actually turn cash positive.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

We're one of these interesting SaaS companies, which in 2016, we actually turned cash positive and decided to strategically, you know, dip the other way, given the market changes and the growth.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

And so this can actually, you know, we'll only spend half of it and be able to turn cash positive again.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Whether that happens or not, let's talk again in, you know, 12, 18 months, whether that's still the strategy.

SaaS Interviews with CEOs, Startups, Founders
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

But, you know, there's no, we haven't kind of put that out as, hey, it's two years of burn.