Insight
Cohen says Tel Aviv engineering salaries are 50% of US hubs
“I think you can expect basically 50% of what people would make in either New York or the Bay Area markets, and obviously you lose some efficiencies by having people in different time zones and really just not co-located.”
What-if
Solo founder Cohen says he would prefer having co-founders next time
“Sole founder which I would do differently if there were an option to have co-founders to share the load.”
Assertion Not checkable as stated
Cohen claims T-Rex operates 4,000 times faster than baseline Excel models
“You're not going to go back to an XL model that operates 4000 times slower than Then T-rex, and that's just sort of baseline VBA code.”
Insight
Cohen says T-Rex primarily competes against in-house Excel models
“We just need to be there because we don't have huge competition. And so if we needed to have a bigger presence to sort of outdo the guy next door, then it would cost us a lot more. But because we're competing with in-house Excel models we just need to be on pe…”
Assertion Supported
Cohen says T-Rex raised $15 million across Series A and B
“We've raised about five million dollars today.
Okay.
Or sorry, not five. I've, I undersold that. That was in our series A that we're at fifteen million now.
15, one, five.
And I, I'd be shocked if all those were notes and debt.
I'm assuming you've had a price …”
Assertion Not checkable as stated
Cohen notes securitized solar loan yields dropped from 8% to 3.5%
“I mean, you can actually track how these rates have come down over time from eight percent to six percent, and now, now some of these loans for some of our customers, when they're ultimately securitized are sold for three and a half percent for the top tier tr…”
Assertion Not checkable as stated
Cohen claims T-Rex hit seven-figure ARR in its first six months
“In our first six months of revenue generation, we were into seven figures of ARR.”
Disclosure
Cohen invested over $100,000 of his personal savings to start T-Rex
“Not that much of my own capital, but it was well into the six figures.”
Assertion Not checkable as stated
Cohen says T-Rex maintained zero employee attrition despite hot startup market
“And so we have no attrition, which for a very hot startup market is also incredibly valuable.”
Assertion Not checkable as stated
Cohen says T-Rex boasts zero customer churn and up to 4x renewals
“No, we have not had anybody pay us and leave. We have only, thus far, and remembering that it is really, we had a couple customers in 2015 paying customers that have since renewed, and one of them at more than four times the rate that they came in at.”
Disclosure
Cohen says T-Rex enterprise bank CAC approaches high tens of thousands
“And then you have very large customers that you know, major investment banks JP Morgan city bank, for example, that could take a year to convert. And so, you know, the all in CAC there can approach high tens of thousands.”
Disclosure
Cohen says T-Rex employs 21 people across New York and Tel Aviv
“We have 21 people on the team. We're based in New York, where I am at the moment, and we have almost half our team in Tel Aviv, Israel, where we have most of our software engineers”
Assertion Not checkable as stated
Cohen says T-Rex reached over 225 institutional users by Q1 2017
“Q one, we have over 225 users and including those that have renewed from the institutional investor and originator of asset side.”
Disclosure
Cohen worked unpaid for two years before raising T-Rex Series A
“I invested two years of my time before getting paid a dollar. And basically two years before we raised our series A capital and then another year and a half of fully building out the infrastructure with a full team before launching and really before hiring our…”
