Jamespot Profits $40k/mo on $4m Revenue helping Teams Stay Connected

34.907 - 46.922 Alan Garnet

Two years ago. Our company has changed a lot because we have a lot of growth, new customers, a lot of change, you know, in the landscape and, you know, in the landscape of the collaborative tools that change too.

47.403 - 53.19 Nathan Latka

Yep. So in 2018, when we spoke, you were doing about $2.4 million in terms of annual run rate. Where are you at today?

54.385 - 59.372 Alan Garnet

So now in turnover, we are about $4 million turnover.

59.972 - 61.755 Nathan Latka

Okay. So what does that mean?

63.117 - 67.162 Alan Garnet

That means that we have been 25% of growth this year.

159.002 - 184.579 Alan Garnet

You've got some, you have to, we've got about some external that are low price, you know, because you have the full seat. And when you buy a gem spot, you have a package of free external people of your company that you can use. And then after a number, you will pay for the external. So the user, I say, it's the all user we have in all countries in all. and tell us what folks are paying you for.

186.179 - 217.449 Alan Garnet

The pain we try to... What we do for organization is to help them to have their own remote work like you do in your home. As you see, I see you in the back and you choose to put photo in your... And you choose to change the way you work, where you live. We do the same for our customers because with JamSpot, they're going to plug... a lot of apps so they can work like they are.

218.21 - 227.108 Alan Garnet

We have this modularization of how you work. That's what we are very different of other solutions.

227.79 - 230.395 Nathan Latka

Who would you compare yourself to? Who are you closest to?

231.59 - 263.381 Alan Garnet

Well, in Europe, we are close to the part of Microsoft 365, you know, because in this you find all the things to work with documents, communication and chatting and doing, you know, social network inside all those elements. That's what we are close to. And Workspace or Facebook too. So we have major, big competitors.

417.586 - 433.215 Nathan Latka

Okay, so someone that's just starting, you expect them to close $300,000 in new annual recurring revenue in their first 12 months. Yeah. I see. Interesting. And obviously, your space churn is really critical. What's your revenue churn over the past 12 months?

434.208 - 448.484 Alan Garnet

In the past 12 months, it was not so much, less than before, because I think that people need our solutions. It's about 8 or 10% a year.

448.804 - 470.104 Nathan Latka

Okay, and how much expansion revenue do you have? What is expansion revenue? All your upsells. So ignore new customer additions, but what you upsell old customers. The exact price for this, sorry. Okay, okay, that's okay. That's okay. You told me last time you had 5% churn and 15% expansion for 110% net revenue retention. Sound like you're still about the same spot?

471.451 - 496.574 Alan Garnet

Yeah, because it's quite the same. We have downsized the churn and the expansion was more because we have a lot of companies that use the JamSpot just for communication. And because of COVID crisis, they use it for home working. So it's much more using. They have to pay more for apps because, you know, we have an inside app store in JamSpot.

496.614 - 525.243 Alan Garnet

You buy for apps to make upsell into the, so they buy some new apps. perhaps, for instance, a video conferencing or, you know, meetings and stuff like this that they didn't choose before. So yeah, we have a better upselling this year. And how are you getting customers today? What's your CAC? A CAC is about, I know it's in euro, I would say in euro, so it's about 10,000 bucks in euros.

842.715 - 852.453 Alan Garnet

Well, I wish, you know... Peace for all the world and hope crisis of COVID will be, you know, fade away.

852.813 - 868.573 Nathan Latka

Guys, there you have it. James Spott competing in the team management space, internal HR tool sort of space, right? They're helping teams stay on the same track with each other. Participating, mainly competing in Europe. They just broke a $4 million run rate up from 3.2 million a year ago. 25% year-over-year growth.

868.553 - 890.157 Nathan Latka

bootstrapped, profiting $40,000 per month in revenue, 250 customers, 35 on the team, 15 engineers. They've got eight sales reps that start off at a $300,000 per year quota, 110% net revenue retention, and an $11,000 CAC for under a 12-month payback period as Elin continues to scale. Alan, thanks for taking us to the top. Thank you from Paris. And see you.