The Ledger
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Competitors Vena, Cube, and DataRails face acute churn problems
“So on Vena and Cube and Data Rails. And so their churn problems are like fairly acute and we get people switching from them all the time.”
Gurfinkel: 100% outbound sales scaled Datarails from $0 to $20M ARR
“And this outbound motion took us from zero to a million in the first year, second year from million to five, and the third, we got to almost twenty million in outbound. At some point in the third year, we started to develop also the inbound, but the outbound, …”
Gurfinkel: Datarails beat competitors in every deal due to connectivity
“And when we came with such a compelling and impressive technology with this capability that we beat them in every deal. In every deal, we beat them because they couldn't even get close to what we offer with this connectivity with Excel and database.”
Gurfinkel: FP&A software has penetrated only 20K North American mid-market firms
“So if you look at the North America, a market midsize companies, you have, let's say half a million companies. And you can total up the entire customer base of all the players of the FP&A, including DataRest, you will get to, let's say, 15,000 customers, ok, o…”
Gurfinkel: Investors called Data Rails the black sheep of their portfolio
“They used to tell me that we are the black sheep of their portfolios. You know, they have like this annual events, you come with a nice and you go and you know that you are the black sheep of their portfolio. You don't show any revenue. You don't show any succ…”
Gurfinkel: DataRails would not have built deep spreadsheet tech without early failures
“I think that the depth of the technology, the platform that we developed, We would never invested so much in a robust platform that connects a spreadsheet to database. And you can look at our competitor that they have some Excel integration, this and that, but…”
Gurfinkel: Datarails priced initial FP&A product at $790 monthly without commitments
“We decided we are going to move any Obstacles. Any barrier we move from the sale in order to focus only on finding the product market fit. I'm not trying to optimize revenue, to optimize contract size, nothing... So it was a seven 90 dollar a month. That was t…”
Gurfinkel: Focusing on the FP&A vertical unlocked Datarails' customer revenue
“Once we focus on the one use case or one vertical of the FP&A, that was the missing piece of creating a company and a revenue and customers and build the world data that we have today.”
Gurfinkel: Datarails matched 5 years of customer acquisition in 5 days
“In that week that we sold four customers in one week, it was almost the same amount of customers that we had in the five years. So in five days we acquired four new customers.”
Gurfinkel: Data Rails raised nearly $10M pre-PMF between 2015 and 2020
“We raised almost ten million dollars during this time. Not in one time. We started with half a million dollars and then 2,000,003 dollars.”
Gurfinkel: Data Rails Took Five Years to Find Product-Market Fit
“We spent actually five years before we found the product market fit and started to grow”