Abhinav Agrawal
CEO, Netchex. On 1 show, 1 appearance. The Shows tab opens the full record on each.
founderexecutiveoperatorinvestor@agrawal667 ↗LinkedIn ↗getrocket.com ↗
Abhinav Agrawal co-founded and led Rocket (GetRocket), an AI-driven recruiting platform, along with outbound recruitment tool Hireflow.ai. Previously, he co-founded mobile data startup Renzu and held senior leadership roles at Zynga and Amazon.
1shows
1appearances
20statements
1resolved
1supported
0contradicted
100%fully supported
Everything Abhinav Agrawal said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Agrawal believes pure software recruiting fails without a human element
“We don't think that's going to work. What we think is going to work is sort of a humans combined with good technology, kind of like what compass is doing, what Atrium is doing.”
True recruiting churn requires clients to have active open roles
“If they have an open role, they're hiring actively, they're just not using you. That's the real definition of churn in this space.”
Platforms like Hired stalled because VCs forced the wrong operating models
“We've seen too many companies in this space fall flat, you know, whether you look at Hired or others, Where things stall because they don't have the right partner and the right partner pushes that into an operating model that doesn't work for this industry.”
Agrawal: Rocket maintains a 2% to 3% annual revenue churn rate
“You know, typically over the last couple of years, our churn has been anywhere from two to three percent.”
Agrawal: Rocket grew 240% YoY in recent 2019 quarter
“2019 quarter that just closed versus the 2018 quarter, that was the growth rate, was two 40%.”
Rocket operates its entire business without dedicated salespeople
“We don't have any salespeople today. No.”
New agency recruiters typically take three to six months to break even
“Typically it takes a recruiter Anywhere from three to six months before they start paying off.”
Agrawal: Rocket aims to open 5 to 10 US offices next year
“Next year, if all things go well, I'd love to open sort of five to 10 offices in the U S because it is a local market, right? You do need to be in market to talk to customers and back to candidates.”
Agrawal: Average Rocket customer pays $80K to $100K annually
“They're paying us about 80 to a 100,000 a year.”
Agrawal: Rocket charges 20% to 30% placement fees per hire
“Our typical percentage fee is anywhere from 20 to 30% of first year base salaries, so they're getting anywhere from three to four hires, a little bit lower if they're in the Bay Area or New York City and the comp is higher a little bit more if, you know, we ha…”
Agrawal: Rocket targets $7M to $10M for its next funding round
“I think we're going to target somewhere from seven to ten million in the next round, but it all depends on the market conditions.”
Agrawal: Rocket gets more growth from full-stack recruiting than SaaS
“More from the full stack model where we charge as a percentage of salary.”
Agrawal: Rocket employs 30 people, two-thirds recruiters and one-third product
“We have about 30 people. About two thirds of the team are recruiters. A third of the team is product and engineering.”
Agrawal: Rocket is already essentially cash-flow positive
“So we're basically cashflow positive already.”
Accounts receivable forms Rocket's largest working capital financing need
“Net contracts are net 30, but payments end up being sort of net 60, net 90. So the biggest thing I'm financing is actually my receivables.”
Agrawal: Rocket holds $1.6M in cash from $2.9M raised
“Out of a 2.9 we raised, we have about 1.6 in the bank.”
Agrawal: Typical recruiting agency achieves 5% to 10% net margin
“The typical agency makes five to 10% net margin.”
Agrawal: Rocket targets 60-70% gross margin and 30-40% net margin
“Today we are targeting anywhere from 60 to 70% gross margin. So our goal We can ideally be a 30, 40% net margin business.”
One line per show, most statements first. The link opens Abhinav's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
 TOP FOUNDERSLEDGER | CEO, Netchex | 1 | 20 | 100% 1/1 | full record on Top Founders → |