SaaS Interviews with CEOs, Startups, Founders
$4m ARR, Hospitals pay $5 Per Utility Meter To Measure Gas Emissions
16 Mar 2023
Chapter 1: What valuation strategies are discussed for SaaS companies?
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You are listening to Conversations with Nathan Latka, where I sit down and interview the top SaaS founders, like Eric Wan from Zoom. If you'd like to subscribe, go to getlatka.com.
We've published thousands of these interviews, and if you want to sort through them quickly by revenue or churn, CAC, valuation, or other metrics, the easiest way to do that is to go to getlatka.com and use our filtering tool. It's like a big Excel sheet for all of these podcast interviews. Check it out right now at getlatka.com. Guys, THG Energy launched back in 2011.
Today, doing about $200,000 a month in revenue, up from $125,000 a month just a year ago. They work with over 1,000 folks, businesses powering their utilities. These are like schools, hospitals, et cetera. They help these folks report on gas emissions with tracking and measurement. That's what their software is called. where platform does.
He charges $5 per meter per month as they scale, looking to grow now. They did a $10 million seed round back in 2019. I called a 50 million valuation, looking to raise 6 million now at hopefully close to a 75 million valuation. We'll see if we can get it done. Hey folks, my guest today is Daniel Fry.
He's got 35 years of experience in the energy marketing and trading worlds, building and acquiring energy marketing companies. At THG, they've built more than 35 energy industry partnerships, excuse me, to help companies expand revenue and product offerings to include sustainable and energy management data and technology. Follow along with the podcast at thgenergy.com.
Daniel, are you ready to take us to the top?
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Chapter 2: How does THG Energy measure and report gas emissions?
And then we have about eight folks in Austin that are engineering focused and really help companies on their integration of meters and smart meter data and distributed energy resources, which is the other side of our business. We pull together a lot of multi-facility, multi-sourced data and put it in one spot. So if you're trying to track
your solar panels and your batteries and your behind the meter information and integrating that into a platform. That's the other piece of our business.
Before we get to that though, 300,000 utility instruments that you're installed on today at five bucks a pop would mean you're doing about 1.5 million a month in revenue. Is that accurate?
That's accurate for that side of the business. There's also additional opportunities to- Well, hold on, Daniel, before you go away from that side of the business though.
So if you're doing 1.5 today, just so we can calculate growth rate, what was just that part of the business doing one year ago?
One year ago, that same business was probably about 30% less. So about a million dollars. Yeah.
And we- Daniel, is that a month or a year, just to be clear?
Per year.
Oh, got it. Got it. So it's not 1.5 million a month. It's $5 per year per meter.
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