ProjectCOR
company on 1 show · 14 statements across 1 episodes · said 22 times in 1 episodes since 2021
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14 statements about ProjectCOR, every show
ProjectCOR maintained a 4% gross churn rate over the past 12 months
“Our last 12 months churn is four percent.”
ProjectCOR targets over $2 million ARR by December 2021
“Our goal this year is to get, to continue growing into this nine, nine, over nine percent by the month, and this will help us achieve. Our goal is to be over two million dollars in ARR.”
ProjectCOR split its $6M Series A into two tranches to optimize dilution
“We raised two million and then we raised four at different valuations, different terms, the same round, but we were, yeah, as we were growing, we decided to split terms and yeah, for the last four million, we got diluted like 10%.”
ProjectCOR grew 9.8% month-over-month, reaching roughly 180% year-over-year revenue growth
“We were growing at a nine, 9.8% month over month. So we, I mean, that's like kind of doing 171 180% year over year. That's like tripling revenue year over year.”
ProjectCOR allocates 70% of Series A capital to growth, 30% to product
“So we're gonna invest 70% growth, which is like marketing, like all lead gen marketing, pre-sales, sales, and post-sales. And then we're gonna allocate 30% of the capital to product, which is already very robust and working pretty well with a great, like custo…”
ProjectCOR served approximately 115 clients as of June 2021
“Today we have 115 clients more or less.”
ProjectCOR built its MVP for $10,000 and acquired its first few customers
“I mean like, 10 K to just, like, get the a minimum MVP, a minimum buy-all product get it, like, up and running. It was awful, but we launched it, and we had, like, three, three to four customers with that and that's how we got into 500.”
ProjectCOR sets sales quotas at 3.5x to 4x OTE with 50/50 splits
“Normally between 3.5 and four X quota versus OTE. So we normally do OTE half and half for sales reps. Half and half means if you have an OTE of 150 K, it's 75 salary, 75 commission. And then your quota is going to be like 3.5 or four X, that amount.”
ProjectCOR averages $19,000 ACV, with top enterprise contracts exceeding $100,000
“Today, our ACV is 19,000 dollars per year. Yeah, but of course we have, like, enterprise customers that have, like, are paying us over 100 K per year, and we have some now, we have a lot of SMBs who are paying, I don't know, like, five K a year.”
80% of ProjectCOR customers switched from horizontal tools like Asana and Trello
“80% of our current customers have switched from tools like Asana, Trello, Monday, ClickUp you name them, Jira, Trello.”
ProjectCOR targets agencies, law firms, and consultancies selling billable hours
“So we sell to agencies, to consulting firms, to law firms, accounting firms, these companies that are selling hours, they need to understand their profitability on a, in real time.”