SaaS Interviews with CEOs, Startups, Founders
GeoSpiza First 3 Customers at $160k ACV For Climate Risk Software, How?
15 Jun 2020
Chapter 1: What inspired Sarah Tuneberg to launch Geospiza?
So just to be clear, like this month, basically you're at 60,000 a month forward-looking that would put you obviously at 720,000 and run rate AR run rate.
Exactly.
That's great. Okay. Then those three customers are paying more than 160,000 per year, right?
Well, we have our old ones that come along too.
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And you'll get interviews three weeks earlier from founders, thinkers, and people I find interesting. Like Eric Wan, 18 months before he took Zoom public.
We got to grow faster. Minimum is 100% over the past several years.
Or bootstrap founders like Vivek of QuestionPro. When I started the company, it was not cool to raise. Or Looker CEO Frank Bean before Google acquired his company for $2.6 billion.
We want to see a real pervasive data culture, and then the rest flows behind that.
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Chapter 2: How does Geospiza help companies manage climate risk?
Correct. And Europe and all sorts of companies.
Okay. So now three customers, 13 grand a month or 160 a year. So what is that like five, 600 grand in ARR?
So we're right about 12,000 in, no, sorry, 60K in monthly recurring. We'll hit about 500K this year with sites that on 1.5 million next.
Okay.
So just to be clear, like this month, basically you're at 60,000 a month forward-looking that would put you obviously at 720,000 and run rate ARR run rate.
Exactly.
That's great. Okay. Then those three customers are paying more than 160,000 per year, right?
Well, we have our old ones that come along too.
Oh, got it. Got it. Fair enough.
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Chapter 3: What are the pricing models for Geospiza's products?
Correct. Fascinating. Which government or entity?
So we've done well with National Science Foundation. Also, just I pitched a lot for a year. So whether it's South by Southwest or female pitch competitions, they come with a lot. I won $100,000 in the Chloe Capital competition.
Yeah. Interesting. Okay. Fill out the team for me. How many folks on the team?
Seven.
Okay. How many engineers?
Five.
Okay. Any quota carrying sales reps or just you?
I have, no, I have a sales teammate. Neither of us carry a quota. We measure our net on net new meetings, but not quota at this point.
I have a big prediction that five to 10 years from now, Sonic brands are gonna be more valuable than logos, physical logos you put on your website. Why? Well, as you guys know, the world has changed around us over the past several months. And many people, as they're working remote, they are doing more walking in the woods. They're spending more time with their families at home.
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Chapter 4: How did Geospiza transition from GovTech to enterprise SaaS?
And then that's yielding the results we want. I would say since we've only been at this new enterprise scenario since August, we don't yet know exactly how the metrics are going to shake out. We're seeing it working. I think Q1 will be a real inflection point for us.
Interesting. Any plans to raise additional capital besides the grants?
We'll see. Yeah. I think, again, Q1, seeing how it goes, seeing how much revenue we can get, and then what... we service a global customer base. And so I think there might be a need to fundraise to fund some global expansion. Uh, yeah.
Are you guys profitable right now or burning cash to grow?
No burning cash to grow.
How do you mind me asking how much, how much can you sleep with?
Uh, Oh, I can sleep with a lot. As long as I can raise it, I can spend it as long as it's sufficient, but, uh, we're burning about 50 K a month.
Okay. That's net burn or gross.
Net burn.
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