Prediction Not checkable as stated
Bury: Higher-ticket transactions or B2B can scale Willful to $10M run rate
“I don't know that we can get up to a ten million dollar runway rate with the only the current existing product because it is a bit of a lower price product. But as we start to look at things with more lucrative price points like estate administration tools, in…”
Assertion Supported
Bury: About 60% of US and Canadian adults lack basic estate documents
“I feel like the sad truth is, and this is true in Canada as well as the U.S., people are woefully unprepared for their own passing, and about 60% of adults don't have just the simple legal documents”
Disclosure
Bury: Willful closed a 1.1 million Canadian dollar seed round in May 2020
“1.1 million Canadian, which I think is like four dollars US.”
Disclosure
Bury: Willful closed its seed round at a 6 million dollar valuation
“No, we did it as a price round with a post-money valuation of six million.”
Assertion Not checkable as stated
Erin Bury: Willful has grown revenue 4x to 5x year-over-year
“We've seen like a four to five increase year over year”
Assertion Not checkable as stated
Bury: Willful has broken a $1 million revenue run rate
“Yes, we've broken a million dollar run rate.”
Disclosure
Erin Bury: Willful is targeting an acquisition exit rather than IPO
“I mean, obviously, there's a few paths for any company. There's IPO, exit, or staying profitable long-term, and I think we're very much on an exit path, and when we think about ideal acquirers, we want it to be somewhere where we want to work, right?”
Assertion Not checkable as stated
Bury: Willful has 10k to 15k paying customers across 40k documents
“Yeah, I think I'd have to, again, check, but between 10 and 15,000 kind of paid customers to generate that 40,000 documents.”
Disclosure
Willful charges $99 to $149 one-time for estate documents with free updates
“So it's actually not a recurring product. It's more of a one-time transactional product. So you're paying us anywhere from 99 to 149 dollars for your documents, your will and power of attorney documents, and we offer free unlimited updates, which is a competit…”
Assertion Not checkable as stated
Bury: Willful generated roughly a couple hundred thousand dollars in first year
“And you know, I think in the first year we probably did a couple 100,000 dollars of revenue.”
Disclosure
Bury: Willful raised early convertible debt primarily from Shopify executives
“We had done some convertible debt earlier on from mostly Shopify executives in Toronto.”
Disclosure
Bury: Willful drives growth through SEO, PR, and life-event partnerships
“You really start your search for estate planning and wills by hitting up Google, and so we've long known that PR, content marketing, and methodical SEO is going to be the way that we win, and the other big user acquisition channel for us is partnerships, so be…”
Disclosure
Bury: Willful partners with Wealthsimple and Parent Life Network for acquisition
“Some of them are Facebook groups, but the more official ones would be you know, Parent Life Network is a big one in Canada that that new moms are a part of, but even just other kind of fintechs that were partnered up with Wealthsimple and some of the other fol…”
Assertion Supported
Bury: Willful offers family plans while Trust & Will uses subscriptions
“So for example, we have a family plan where you can buy multiple plans. They don't. So it's a way for them to validate that. They all have subscription. We don't.”
Disclosure
Bury: Willful operates with a team of 15 people
“We're at 15.”
Disclosure
Willful Expands Affiliate Incentives to Clicks and Signups
“So we've started to expand from those learnings into earnings per click and for signups instead of just for conversions.”
