Naim: Onfleet is migrating off Gusto after outgrowing the platform
“The last time I actually said Gusto, I think, and we are moving away from Gusto. We've just kind of been reached the point where we're outgrowing them.”
Naim: Onfleet's typical gross revenue retention is around 85%
“Typically, you know, we are, our gross annual revenue retention is, is around 85%.”
Naim: Onfleet's annual net revenue retention is 115% to 116%
“Our net revenue retention annually is about a 115, 116%.”
Naim: Onfleet targets 65 to 70 employees by end of 2021
“We grow the team, you know, by the end of next year, we'll be probably about 65 or 70 people on the team. And so, and a large, you know, large portion of that will be on sales.”
Naim: Onfleet targets a new $10M to $15M funding round
“Probably in the 10 to fifteen million range. You know, we don't need a ton of capital. We're super lean operation”
Naim: Onfleet has raised $5M in equity and nearly $1M in debt
“In equity? Yeah. And we raised close to a million in debt. So mentioned that we, you know, we work with lighter capital. So yeah, that's still the case.”
Naim: Onfleet on track to double 2020 revenue
“This year we're definitely on track to double, probably more than double revenue this year.”
Naim: Onfleet remains at breakeven as revenue outpaces hiring
“Still breakeven, yeah. I mean, with the growth this year, you know, our revenue has, growth has outpaced our the ability for us to hire.”
Naim: Onfleet processes over 3 million delivery tasks monthly
“We are worth of three million now. So, you know, a 100,000 plus a day.”
Naim: Onfleet customers pay an average of 20 cents per task
“So our average across all of our customers paying about 20 cents a task. Our highest volume customers are all the way down to, you know, 10 cents a task and lowest volume is, you know, a little higher than 20 cents a task.”
Naim: Onfleet serves approximately 900 customers
“Today we're close to 900. We're around, around 900 right now, actually.”
Naim: Onfleet began at Stanford in 2011 as location-sharing app Addy
“Originally, down at Stanford, working on location-based services technology, so we were targeting emerging markets at the time, this is back in, like, 20 11 helping people that lack functional street addressing systems in their countries to communicate locatio…”