Insight
Marinelli: Installation Friction Prevents IoT From Becoming a Commodity
“IoT isn't that commodity that we think it is, especially because of installation time, setup time, and so on. So if you really nail down the hardware part, you can go to go to market more easily, and you can just have like more successful customers that are pa…”
Insight
Marinelli: Predicting industrial machine breakdowns requires combining software and hardware
“The only way really to do that is by combining software and hardware and just basically providing the best in class IOT that we can.”
Insight
Igor Marinelli: Capital Cannot Buy Product-Market Fit
“There's three things money can't buy friendship, love, and product market fit.”
Assertion Not checkable as stated
Marinelli: Traction sensor costs $100 to make with 2-4 month payback
“So the hardware nowadays, it costs a hundred dollars per unit and actually is a, it's a very good payback because we can, we're able to provide it as 45 dollars per month per century. So in terms of hardware payback, it's like two, 2.5 months, sometimes, somet…”
Assertion Not checkable as stated
Marinelli: Traction Targets 600,000 Potential Industrial Companies in Latin America
“We have, like, 300,000 In Brazil, summing up all Latin America, we have like 600,000 companies to achieve.”
Assertion Not checkable as stated
Marinelli: Embraer monitors all airplane manufacturing machinery with Traction
“So they monitor basically all the machinery that produces the airplane. So if you think about, there's a bunch of motors, engines, compressors, pumps turbines, generators all basically rotational machine. So I've done computer engineering, not mechanical engin…”
Assertion Not checkable as stated
Marinelli: Traction averages $3,000 MRR and 60 sensors per customer
“Well, our average MRR is basically three K per month. So and those customers, they have around 60 sensors as an average.”
Assertion Not checkable as stated
Marinelli: Traction has around 3,000 sensors deployed
“Yeah, we're like around 3000 sensors that it's already going on in the market.”
Assertion Not checkable as stated
Marinelli: Traction grows sensor fleet 30% monthly
“So we're growing at an, at a pace of 30% each month.”
Assertion Not checkable as stated
Traction Reaches $100K Monthly Recurring Revenue
“So we just hit like a hundred, a 100,000 dollars.”
Assertion Not checkable as stated
Traction Grew Revenue 10x From $10K MRR One Year Ago
“A year ago, we were at like a 10,000 dollars per month.”
Disclosure
Marinelli: Traction raised $3.7M seed round from Y Combinator and Soma Capital
“We've raised 3.7 million bucks and in seed round that was a Y Cominator together with Soma Capital and other US funds.”
Disclosure
Marinelli: Traction has 12 months runway, plans $10M–$20M Series A
“Now we're just like thinking about series a, we still have runway to go almost like 12 month runway still. But probably we'll be raising something in between 10 or 20.”
Disclosure
Marinelli: Traction's seed round post-money valuation was $15M to $20M
“Our valuation was a bit lower. It was from basically the range, like in between 15 and twenty million dollars post-mining.”
Disclosure
Marinelli: Co-founders still own over 50% of Traction combined
“Like we still have in my partner, we still have more than half of the company altogether.”
Assertion Not checkable as stated
Marinelli: Traction Monthly Churn Is At Most 1.5%
“Our churn today is like 1.5% month maximum”
Assertion Not checkable as stated
Marinelli: Traction Net Dollar Expansion Rate Reached 118%
“Over the course of this year, we've done the dollar-based net expansion rate was basically like, 118%.”
Disclosure
Marinelli: Traction Converts 25% to 27% of 100 Monthly Qualified Leads
“Sales conversion rate, so from a qualified lead, and we have about, like, a hundred qualified leads a month to an actual sale, it's basically, like, 27%, some months, like, 25%, the conversion rate.”
Assertion Not checkable as stated
Marinelli: Traction has 100 customer companies
“We have a hundred companies.”
Assertion Not checkable as stated
Marinelli: 70% of Traction Growth Is New Customers, 30% Upsell
“So I would say like 70% is new acquisitions and 30% is actual customers that are like asking for more.”
Disclosure
Marinelli: 40 of Traction's 60 Employees Are Engineers
“Engineers is basically like, summing up all the companies, it's basically like 40 people are engineers and the 20 other we're talking about sales and marketing.”
