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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

We were still burning.

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

So in 2016, we were 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

And then we decided to do another small round and went negative again.

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

And that's fueled the growth into this one.

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

So, you know, to call it two, three years of burn, if you want to really go aggressive.

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

Yeah, and we'll push even harder, you know, depending on the opportunities.

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, you know, it's nice to have a war chest there to be able to, you know, go after, you know, interesting, you know, new business opportunities, or as I mentioned, international markets.

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'll push that a little higher.

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 approaching 100 people.

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

All in LA?

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

No, we got offices in LA, New York, London, and one person in Australia.

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

Um, and so, uh, you know, we're, we're building out, especially New York and London at the moment, but, uh, the majority is an eye.

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

No, it's, it's slightly less than that.

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

And the reason is you've got to, got to look at it.

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

You can't just say, well, what's the current ACV given that there was a tipping point.

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, you know, we do have a couple of customers, you know, when you look at it, you have a couple of customers at the million dollar level, you have some, you know, the 500,000, and then there's obviously a big portion, you know, in that smaller area.

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, yeah, it's definitely double digits, just slightly, you know, less than where you are.

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

No, not before end of year.

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

Unless something magical happens.

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

Yeah, so it's been a really interesting rise where every quarter on quarter just gets more.