Sammy Shuny

It's a kind of a,

You have to remember that Shovel is a Finnish company, so we are based in Finland.

And because of the COVID, we did a big change in our strategy.

So we kind of concentrated all our people in Finland.

So the salary is not that high as it would be, for example, in the West Coast USA.

We do have most of the people placed in Finland right now.

It's about more, but also the location of the offices.

We have the world's best healthcare, world's best education system.

The tax rate is quite high, but then again, you get good services, nature,

clean air, everything.

So for us, it's more about the location.

We are slightly burning at the moment, but we are getting there.

We are actually planning to raise the next round.

Seven to 10 million.

And why is seven to 10 million the right number?

It's the right number because we want to go full ahead with two arrows or heads.

First of all, we want to do the sales-led growth, and we also want to do the product-led growth.

We do need to hire new salespeople, but we also have to hire new engineers and really get the product itself into shape where it can sell itself.

Churn is really slow, low at the moment.

So it's about 3.5.