The Exchanges

Q didn't come up in the S one or in the, in the filings. Okay, good. All right. So more than four million bucks raised. Um, that's great. And then walk me through the tech. That's actually interesting. So this, the company you exited, I believe was to match.com. Was that, was that when I think match.com, I think like Tinder basically, what was this like relationship related software at first?

A So my, my, my background is a little bit diverse in terms of the industries I've worked in. The answer is we started, uh, the first location-based dating company in 2006, um, that really was built, uh, for mobile first. So we tracked location as people were walking around. Um, we, uh, uh, we made real-time matches with people. Um, that was a little bit of a lab for my co-founder and I. Um, we developed not only the intellectual property around, uh, Indicative, but we also developed, um, what was the first enterprise CRM. Um, spun that out in 2008 to a company called Extify, um, which we exited to, uh, IBM in 2013. Um, that is now a, a, a core part of the messaging platform, uh, and IBM's marketing cloud. Um, and so, you know, we've developed both of these technologies from really businesses that we had, you know, we developed them really to scratch our own itch. Not to say I was, um, well, you know, when we started the dating company, I was single and married now.

AI assessment note: “we started, uh, the first location-based dating company in 2006”

Q That's so that's what I'm asking, right? It's like in that enterprise cohort, what is the most critical thing you've got to get them doing after they start paying? Is it helping them set up the custom domain name, helping them with the SSO? You know, what is it?

A It's helping them build their basic KPIs in the platform. It's a, you know, historically with our, with our paid customers, it's having a conversation around saying, what are the objectives that you have from a customer behavioral analytics perspective? Usually that consists of somewhere between five to 10 specific KPIs, whether they're product KPIs or marketing KPIs, and make sure that they can get visibility into building those KPIs into a dashboard in our platform. That's the big hurdle. Every customer, no matter what tier we're talking about, They need to overcome to become an engaged user. It doesn't matter if they're an enterprise customer or a free customer. If they can't get that initial value in the platform, they'll leave.

AI assessment note: “It's helping them build their basic KPIs in the platform.”

Q getting more of the backstory here. So, you know, when you say that you're not pricing around data or data volume, look, a lot of raising these companies have a pricing axis around data volume is it's directly tied ideally to utility, right? And value of the output. So, and it allows them to drive incredible expansion revenue year over year. So, so what pricing axes do you price around?

A Sure. So given our background of primarily focusing on the enterprise, we have a suite of features that are targeted really, that only really become a factor for you once you reach a certain level of scale. So on the simple side, everything from things like training to single sign on, uh, to more advanced data integrations. Our goal is to provide the suite of behavioral analytics, uh, tools that we offer to everybody. And then only, only worry about monetization once you reach a certain level of scale and the same similar model to what Slack and Hootsuite do. Whereas the, you know, they want to give you something that is really, really useful for free, but then only become something that you need to pay for as you scale it out and, and, and, and, and you become more dependent over time. And we have pricing tiers that allow you to do that without making it prohibitively expensive or difficult for you.

AI assessment note: “everything from things like training to single sign on, to more advanced data integrations”

Q reason I'm pushing so hard your drum is because the activation metrics that a company build their onboarding around are so, so critical. If you've got less than five percent revenue churn, once people stop paying, you're doing something really, really nice here. So what, what do you know you have to get a new paying customer to do in the first week to make them really sticky with you?

A So the, our platform is really powerful from a diagnostic ad hoc perspective, but we provide virtually nothing in the form of value in your first experience. So people connect data. We don't have a historical set of data for you. So the value you get from our platform is fairly limited. We don't provide you today, unfortunately, without any sort of out of the box metrics. So for someone to become a, a, a, a high lifetime value customer, They have to build up some initial KPIs manually themselves in our platform. Um, we're working to make that more automated, but someone needs to commit an hour or two to figure out how to build those basic KPIs so that they have something to come back to.

AI assessment note: “They have to build up some initial KPIs manually themselves in our platform.”

Q expansion and pricing axes and things like that will mean more if they're tied to real numbers. I mean, look, I would say actually your pricing is fairly weak because there's only one axis you can upsell against. You have no seat model. You have no usage model. That's really just your salespeople. If there are salespeople trying to sell additional modules, what does your sales org look like today?

A It's small. We're really focused around growing this free tier. If you think about sort of the stage of our business, although we've been around for a number of years, um, with this free plan, with this freemium model, we're really focused on the growth aspect there today. More so, not to say revenue isn't a focus, but, um, it's not the primary focus right now. We're looking to leverage Out of mouth perspective, um, tweaking the paid tier, the thousand dollar a month tier is something that, um, you know, we have on the near horizon, but not a focus today. And, you know, I go as far as to say, um, the way our features and, and, and, you know, the, the, the things that are beyond the paywall right now will be tweaked in the future, but it's not the focus right now.

AI assessment note: “It's small. We're really focused around growing this free tier.”

Q Very good. You gotta eat your own dog food, literally. All right. That's great. Um, churn's critical in any SaaS company. What is your churn today? And how does the, you know, usually when you introduce a freemium offer, churn actually spikes. So I'm curious what dynamics you're seeing.

A So, um, I'll be really direct. Churn is not a problem for us. Once customers are onboarded and can you, and understand and learn our platform, they stay basically forever. Um, given our background historically focused on the enterprise, we took a heavy hand with regards to onboarding customers. So where we're really focused from a churn perspective is in that sort of zero to five, if you can imagine, sort of a proficiency level there. Um, getting people to become proficient at our tool is where our big focus is now. Once we get them over that hurdle, they stay forever, but getting them to become, um, proficient in our tool is a big challenge for us right now where we're spending a lot of time.

AI assessment note: “Churn is not a problem for us. Once customers are onboarded... they stay basically forever.”