Heath Wells

Co-Founder, NuORDER · 1 appearance on the record.

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Heath Wells co-founded NuORDER alongside Olivia Skuza in 2011, developing a B2B e-commerce platform utilized by major brands and retailers. In 2021, Lightspeed Commerce acquired NuORDER for approximately $425 million, after which Wells became General Manager of Lightspeed B2B.

12statements → 7claims → 0claims resolved → 3.92/5average certainty → 1.08/5average debate potential →

7 not checkable as stated how the 7 claims stand · each chip opens the sources

7 assertions · 5 disclosures · every statement was checked. The predictions and assertions are the 7 claims: statements the public record can support or contradict. 0 are resolved, and 7 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Heath argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Heath Wells on measured tape to publish a rate. This says nothing about how they speak.

What they said12 Episodes1

Everything Heath Wells said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Assertion Not checkable as stated

NuORDER maintains a customer acquisition cost payback period under 12 months

“And so you know, where, where we are is sub-twelve months on a payback period.”

Heath Wells Jan 30, 2020 ▶ 12:38 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Disclosure

NuORDER charges brands between $12,500 and $1 million annually

“Brands pay us a subscription fee ranging from around about 12 and a half thousand up to a million. Per month or year? Yeah, that's per year.”

Heath Wells Jan 30, 2020 ▶ 1:41 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Disclosure

NuORDER's average customer pays between $30,000 and $50,000 annually

“It's between the 30 and 50,000 dollars.”

Heath Wells Jan 30, 2020 ▶ 2:08 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Assertion Not checkable as stated

NuORDER serves 1,000 brand customers on its platform

“Total customers today is a thousand on the brand side.”

Heath Wells Jan 30, 2020 ▶ 3:12 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Assertion Not checkable as stated

NuORDER reaches 400,000 retailers on its marketplace platform

“And on the retailer side, it's 400,000.”

Heath Wells Jan 30, 2020 ▶ 3:18 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Disclosure

NuORDER announces $15 million raise, bringing total funding near $40 million

“Yeah, so we just announced a new raise of fifteen million dollars in growth capital. So it takes our total raise to close to forty million.”

Heath Wells Jan 30, 2020 ▶ 3:30 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Assertion Not checkable as stated

NuORDER reached cash-flow positive in 2016 before intentionally resuming burn

“We're one of these interesting SaaS companies, which in 2016, we actually turned cash positive and decided to strategically, you know, dip the other way, given the market changes and the growth.”

Heath Wells Jan 30, 2020 ▶ 4:26 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Assertion Not checkable as stated

NuORDER had an ARR run rate under $10 million last year

“Yeah, less than, we were the less than ten million last year.”

Heath Wells Jan 30, 2020 ▶ 7:52 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Assertion Not checkable as stated

Expansion accounts for 20% to 30% of NuORDER's total revenue

“You know, you could call, you know, 20, 30 something percent of our revenues is coming from there. And then the rest is from new business.”

Heath Wells Jan 30, 2020 ▶ 9:22 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Disclosure

NuORDER maintains a net revenue retention rate above 110%

“Greater than a 110% on a net revenue basis.”

Heath Wells Jan 30, 2020 ▶ 10:54 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Disclosure

NuORDER maintained perfect logo retention for enterprise customers this year

“In the enterprise cohort, We haven't lost a customer this year.”

Heath Wells Jan 30, 2020 ▶ 11:39 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Assertion Not checkable as stated

NuORDER closed its $15 million funding round in 90 days

“What's exciting about this most recent raise, although it's our largest raise, it was actually our quickest. It took, you know, 90 days from actually first meeting to close.”

Heath Wells Jan 30, 2020 ▶ 3:40 1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date

Appearances (1)

Episode	Date	Speaking time
1650 How He Kept Leverage in $15m Raise Despite ARR Being Less Than $25m Raised To Date	Jan 30, 2020	10m

Heath Wells

The record, in short

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Appearances (1)

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