StarZero All shows Try the podcast clipper →

Groove

14 statements across 1 episodes · 4 bullish · 0 bearish · 1 people on the record · first statement Jul 19, 2019 by Chris Rothstein · said 22 times in 7 episodes since 2016 · across every show →

Mentions by year

brought up most by Nathan Latka (14), Victor Levitin (3), Khalid Saleh (2), Richard Miles (1), Kyle Racki (1), Adam Harris (1)

tap a year for its mentions
00811522016201720182019202020212022episodesmentions
0122016201720182019202020212022episodes it came up in
0041822016201720182019202020212022episodesmentions per episode
2022 1 mention in 1 episode
2019 15 mentions in 2 episodes 8 per episode
2017 2 mentions in 2 episodes 1 per episode
2016 4 mentions in 2 episodes 2 per episode

every mention, scene by scene, with the transcript →

Everything said about Groove, oldest first

Jul 19, 2019
Disclosure
Groove has raised a total of $3.8 million in funding
“So 3.8 million in funding.”
Chris Rothstein Jul 19, 2019 ▶ 5:27 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019
Assertion Not checkable as stated
Groove deployments scale from 30 seats up to 8,000 seats
“We really focus on 30 and above, but we scale up to our largest customer has about 7000 seats. And then we have our 8000. Now we have a bunch of above a thousand.”
Chris Rothstein Jul 19, 2019 ▶ 3:26 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019
Assertion Not checkable as stated
Groove operates with a team of approximately 35 employees
“Yeah, we're at about 35 today.”
Chris Rothstein Jul 19, 2019 ▶ 14:16 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019
Assertion Not checkable as stated
Groove has secured over 400 paying customers
“Today we're a little over 400.”
Chris Rothstein Jul 19, 2019 ▶ 5:09 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019
Assertion Not checkable as stated
Groove currently generates $5 million in annual recurring revenue
“Five million ARR.”
Chris Rothstein Jul 19, 2019 ▶ 6:57 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019
Assertion Not checkable as stated
Groove reached profitability and $1M revenue on just $800K raised
“We built up and with that eight, our first 800 K we became profitable. We had over a million in revenue with that.”
Chris Rothstein Jul 19, 2019 ▶ 6:05 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019 positive
Insight
Groove uses a weighted point system to compensate its SDRs
“SDRs have a meeting goal, and we use a point system, which I think is the way to go. Basically, if they, if there's certain competitors that we think we could win against more, we go after them, and they get more points or certain sizes, or they get a top 10 l…”
Chris Rothstein Jul 19, 2019 ▶ 13:21 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019
Disclosure
Groove calculates its average customer acquisition cost at roughly $8,000
“When I calculate it, it's about 7.9 K. So around eight K, let's say.”
Chris Rothstein Jul 19, 2019 ▶ 11:29 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019
Assertion Not checkable as stated
Groove customers pay an average of $13,000 per month
“The average is probably around 13,000.”
Chris Rothstein Jul 19, 2019 ▶ 3:16 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019 positive
Assertion Not checkable as stated
Groove differentiates from competitors by focusing on AEs rather than SDRs
“We focus more on AEs where a lot of the space focus on the sales development area. So I think that is one thing different.”
Chris Rothstein Jul 19, 2019 ▶ 17:22 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019 neutral
Disclosure
Groove pairs one SDR with one AE in dedicated sales pods
“We have basically a one-to-one pair of SDR and AE. So like a pod structure it's now called. And they, we give them a target list and they just work on capturing those accounts where we know we can provide value.”
Chris Rothstein Jul 19, 2019 ▶ 12:16 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019 positive
Disclosure
Groove maintains a net negative monthly churn of 2.5% to 3%
“On a monthly basis, we're like our net churn is like negative two and a half, three percent per month.”
Chris Rothstein Jul 19, 2019 ▶ 10:28 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019 positive
Assertion Supported
Google is a paying customer of Groove
“They're a customer as well, so.”
Chris Rothstein Jul 19, 2019 ▶ 4:09 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Jul 19, 2019
Assertion Not checkable as stated
Groove's revenue growth splits evenly between account expansion and new logos
“It changes month cause we still get large deals here and there. But almost always it's 50, 50. Almost exactly.”
Chris Rothstein Jul 19, 2019 ▶ 6:42 1455 How Groove Scaled To 400 Customers, $5M in ARR on $3.8M Raised
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 2,600 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more