Ujjainwalla: Knak Bootstrapped Before $25M Insight Partners Series A
“So we are proudly bootstrapped right up until our series A. We didn't raise any money before then. And we just announced the twenty five million dollars series A with insight partners.”
Ujjainwalla: Knak Hit $1M Revenue After Pivoting to Enterprise Sales
“We didn't get to a million on the 99 dollar a month plan. We only got there after we pivoted to sales procurement, that whole process.”
Ujjainwalla: Knak Scaled to Series A With One Quota-Carrying Rep
“Yeah, I mean, this is another beautiful part of this business is right now we only have one quota carrying rep.”
Knack generates growth via integrations with Salesforce, Pardot, and Oracle
“We're seeing growth Salesforce marketing cloud, Pardot Oracle responses. And then we're also just discovering all these new platforms, a lot of in-house platforms that our enterprise customers work with.”
Knack maintains net revenue churn under two percent among enterprise customers
“Whereas our enterprise customers, we've got net revenue turn of under two percent now.”
Knack retains between 100 and 600 customers after dropping low-tier plans
“So we still are in the hundreds of customers.
Okay.
So that's what I can tell you.
Okay.
It's not 600 anymore.
Yeah.
It's significantly less than that, but north of a hundred.”
Knack's 100% YoY revenue growth is driven by ASPs exceeding $6,000
“Well, last time we spoke, we said our ASP was 6000 a year. So 500 a month. And yes, I can confirm that our ASP is significantly higher than that, which is what's allowing us to grow at a hundred percent year over year.”
Knack grew entirely via inbound marketing until early 2020
“So up until two months ago, we've been a hundred percent inbound. So everyone that we've sold to has come to us through our website in an inbound manner. So up until a couple months ago, we hired our first outbound reps.”
Knack prefers bootstrapping via Canadian government grants over raising venture capital
“We are still happy being bootstrapped. I think Canada has actually some amazing programs to help fund startup companies. IRAP is one of them. So we're able to access capital that way.”
Ujjainwalla predicts Knack will achieve 100% year-over-year revenue growth in 2020
“What we're seeing in our pipeline and how we're seeing our deals close, we're keeping that same number again, and that's going to put us at again, a hundred percent year over year growth.”