Brightpearl

“Whereas the CAC, when I look at the overall, as it pertains to overall customer base yeah, so it's about 27,000 dollars at the moment to acquire a new customer in the enterprise space, so my mistake, yeah.”

“For me, that's dollar retained revenue, so that's at the moment it's just over a hundred percent, so it's a 102%, whereas two years ago it was running about 85%.”

“We're on track for just over 13 and a half million.”

“And by selecting a target for the team to go after, it really created that sort of sharp end of the stick. Everyone went after that competitor. And then that really also has driven that differentiation and the value selling that I spoke along. So it's importan…”

“New annual contract value accrued, if you like, or one over the six months, that's new business upsell and uplift is about two, well, it's 2.2 million dollars. And then professional services on top because we have to do a lot of work. Bringing people onto the …”

“When I came in the terms of me joining and what we agreed with the board was we would do a down round and we would level set the business based on a true valuation that we thought was more in keeping with the fact that it had high churn and that's not viable.”

“We're at 913 customers at the moment. So ARPU is about, well, ARPU is 12,434.”

“And then we're running sure churns about 13%, which is pretty high. But if you look at last year, it was 18% in the year before that it was 20%.”

“So the company today has raised forty five million dollars since, since its inception.”

“Say back in 2016, 70% of that revenue stack or the revenue stack then was coming from those micro retailers. Whereas now only 28% of that revenue stack comes from those guys.”

“The monetization strategy was based on, it was a per user based license structure when I joined. And we moved it to a GMV number of orders, whichever is higher, because we obviously do retail and wholesale. And we did that in January, 2017, and we saw our aver…”

“Average order value of new deals is 27,720. And that's AOV as it pertains to subscription that wouldn't include ProServe on top.”

“So, when I started, ACV yield per rep, so new ACV yield per rep, was about 19,000 dollars per month. We're now up to 48,000 dollars per month.”

“In the last 12 months, our customers transacted 1.8 billion dollars worth of invoices to cash on the platform, and when you translate that to our revenue, if I look at say our annual recurring revenue as of this morning, we're like on the first half, so at the…”

“In 2019, we processed three billion dollars of orders through the platform. In 2020, that went up to 4.4 billion dollars.”

“AOV over the four-year period I've been here AOV has gone up 588%, and it's now at 38,000 per year on a per account basis. That's subs only, not implementation.”

“If you don't get professional services right, you see pre-live churn spike, which obviously impacts your universal churn. And then post-live churn, you want to drive down below 10% and get to sort of four percent and be super sticky. And that's why professiona…”

“And we're clipping along at about 40% our growth per annum.”

“When you look at the fully loaded cost of each AE, we're running at about five 80, you know, when you take in count your BDO or your cost of pipeline, and you look at all of the people that you need to feed a new AE, because we run a territory model.”

“When you look at that 13% churn, about four points of that four percent of it, sorry, five percent of that is coming from What we call failed implementation.”

“Expansion in the quarter. So this is this quarter. Is running at a 140%. So that's a good indicator for and that's growth this quarter over last quarter.”

“Last year, we reached break even profiles. We weren't burning any cash”

“It grew last year, which is quite exceptional, just over 60%, or sorry, 58%, I think it was. And we expect this year to sort of normalize a little bit down to about 40% growth we expect this year.”

“We've got twenty five million of R to get to in terms of total R. So I've got to add 7.2 million of net R at the end of the year, by the end of this year, of which 2.2 million will come from expansion.”

“Average ACV, so annual contract value per month that we expect from each individual head is 75 K minimum. So that's their sort of floor.”

“So the criteria is pretty simple. So technical only. So companies that have really good product, but not necessarily the cost of anything else. So engineering teams. I'm looking for a breakeven profile. They can't be burning cash. Preferably I'd like pre-confi…”

“Customers go live we're clipping along at about a 110 days in the last 12 months, in the last 12 month period, and that's calendar days. So that's from when you sign to when you go live. Which in comparison to the sort of legacy ERP systems like SAP or NetSuit…”

“We have CS reps split into two. We have technical account managers that are all around adoption. And then we have account managers that are all about contract renewal, negotiation, pass value delivered. So they're the two roles. And both of them have a commiss…”

“We're at still 13% churn and DOR is at a 102%.”

“We're at eighteen million dollars in our, we're at just over 850 customers, but I'll explain why we've got less customers now.”

“So of the 33 we raised, we're going to deploy a third of it into working capital improvement into the business. We're going to keep a third of it aside for some acquisitions that we're looking at. And we'll keep a third for a rainy day in the bank”

“We've raised 71, I think, in total since the company was started in 20, sorry, 2008. But since my tenure, I essentially relaunched the business in 27. That brings us to thirty-nine million.”

“Pre-money, 105. When I joined the company, it was worth eight.”

“Yeah, we ended 2019 at 12.8. Then the next year, 2020 went to eighteen million. So that was about 39, 38% growth. And then in 21, just gone, we got to thirty million, which was 63% growth year over year.”

“We did do a down round, like in terms of a revalue of bride pro we had to, and the primary driver of that was to ensure that we could top up the option pool for the employees and make sure that they all came along for the ride and every share was equal.”

“It was just over 16%, just over like clean.”

“Yeah. A little bit lower. It's around about one 30.”

“I wanted to raise money to build a better accounting solution within Brideboro specifically designed for retail. But when I looked at it, the cost of doing that and having a clear idea of what the strategy was to win in a highly commoditized market didn't real…”

“The multiple that we paid cause they were pre-scale. Was around about 3.1 times 3.1 revenue because they were subscale and they were technology only team”

“So organically Brightboro got to 25 and a half and then the four and a half came from the acquisition that we made. So the group got to thirty million at the end, which was key.”

“And the reason why Sage bought us at the end of the day is they compete with NetSuite. So do we. But it's no secret that if you go to their website, you don't see a sector specific solution for retail, but obviously we are a sector specific solution for retail…”

“And then on top of that, we brought in a strategic investor, which was called Sage. And altogether we raised thirty million about 14 months ago with those guys.”

“No, it was 7030 because the remediation list was very small. It was a known, you know, it's just pretty tight, well-written code base. So yeah, 7030.”

“So we had always had a plan in early 20, 22, we'd go to market and raise a hundred and twenty million dollars. That was very clear to the board. So it was a two stage process. Thirdly in, get a product out to market with Sage and then do the one 20, early 20, …”

“So that business is growing at 70%. When we sent in the LOI, the letter of intent we have, we obviously had them growing at 70%. They were on revenue at 2.4. They ended the year at four, 4.5.”

“Three 60 enterprise value, and then some separate retention stuff on top, but enterprise value in terms of equity was three 60, which everyone was very happy with.”