Nectar

“A year later, we got all 26,000 students at UCSB using Nectar in almost every single class, with the instructors being the champion of it. And we got UCSB to pay us 60,000 dollars a year for it, so we got our tuition back.”

“Eight months ago, we launched Nectar to the World, and since then, I, as our one-woman sales and marketing team, have built a thirty-five million dollar pipeline, and we've already closed five campus-wide contracts from that, and now we're here to raise our th…”

“So what we've built, essentially Slack for schools, it sits actually housed inside of the LMS, and we see 79% of our usage come directly through that.”

“The way that we were able to get a 34% reply rate, 17% meeting booked rate on our first cold outreach ever was we decided to go the hyper-personalized route.”

“For the last three years that we've been on that campus, we get all 6500 new students to sign up with no marketing whatsoever.”

“Every single class that used Nectar Was able to increase the class average by a full letter grade.”

“So schools like Stanford, Harvey Mudd, they're actually using this with their own LLM.”

“So before we even built Soma, we did a thousand user interviews with faculty, staff, admin, and students, anyone who would take our call.”

“Nectar is a dollar per student per month, so 12 dollars per student per year. So we're at 80 K in revenue, and that is four contracts that are under 20 K, and then UCSB's at 60 K.”

“Our pre-seed round, we did two and a quarter and an eight post”

“Based on our projections, that thirty-five million dollar pipeline, worst case scenario, gets us to two million ARR by Q-four of twenty-twenty-five.”

“Yeah, UCSB is on a 10 year contract right now.”

“The check size that I would be looking at is around 250 K. My one contingency is, like, I definitely don't want to see you raise a flat round somewhere between 11 and 12 pre, based on what you're looking to raise, would work for me.”

“But provided that there's no conflict, I would love to be a part of the round at the sort of 50 to a hundred K range.”

“On the last pre-seed round, we got offered three million at 15, and we turned it down because we said it's twenty-twenty-one and This is crazy, the valuations people are getting, and I don't want to set myself up for a down round. So we said no, and we took th…”

“Long Journey Ventures and Cyan, she's putting in her own personal check as well. They are going to be leading the round at a million dollars.”

“With all of the checks that we got from the pitch and from our previous follow on, without even those now 13 funds that we have interested, we are fully subscribed at three million.”

“We are at 1.4 million just from the pitch.”

“The Pitch Fund, our fund, backed fully by the listeners of this show, invested a 100,000 in Nectar.”

“By order of sales volume, it's Casper, Purple Saf and then Tuft & Needle and Nectar round out the top five.”