Assertion Not checkable as stated
Stepanovich: Gruntify does not lose any clients once acquired
“Our we literally don't lose any clients. Once we win them, they stick with us.”
Assertion Not checkable as stated
Gruntify reached $3M ARR with zero sales team or paid marketing
“At the moment, no. Correct. All organic.”
Disclosure
Stepanovich: Most Gruntify customers pay $5,000 to $7,000 per month
“Most, most people fit within about 5000 to about 7000 a month.”
Disclosure
Stepanovich: Average $6k/mo Gruntify plan covers 500 to 600 seats
“That's approximately 506 hundred seats.”
Assertion Not checkable as stated
Gruntify generates roughly $250,000 in monthly recurring revenue
“Yeah, well, yes, sort of it's more about 250 at the moment, 250 K, but that's growing, and we are obviously this year also launching in Europe, which is a big market opportunity for us as well as we are starting to grow in Singapore, so across Asia, Asian mark…”
Assertion Supported
Stepanovich: Gruntify Is 100% Bootstrapped
“We are at 100% bootstrapped at the moment”
Disclosure
Stepanovich: Gruntify Aims to Raise $5M to $10M for International Growth
“We're looking to raise between five and ten million, hopefully to grow internationally.”
Disclosure
Stepanovich expects $20M to $25M valuation for Gruntify's first funding round
“Well, that really, I guess, you know, depends on, on on the arrangements that we negotiate with our investors. You're looking probably about 20% of the business, 20, 25 maximum.”
Assertion Not checkable as stated
Stepanovich: Large Gruntify clients expanded from 100 to over 1,000 licenses
“We've had with some of our large clients, we've had basically clients come in and, Purchase say a hundred licenses. Now they're over a thousand.”
Assertion Supported
Stepanovich: Gruntify's clients include Modus, CoreLogic, and City of San Jose
“We have clients in the United States and in Australia. For example, we have Modus a company in the United States that's rolling out five G hardware all over this country. We have CoreLogic as one of our property clients, and we have multiple government clients…”
Assertion Supported
Stepanovich: San Jose uses Gruntify for fire and emergency response
“Yeah, well, they actually have multiple uses for our technology, including responses to the fires in the city and emergencies, as well as various housing related use cases.”
Assertion Not checkable as stated
Stepanovich: Gruntify has around 50 to 60 paying clients
“So we are about, we have about 50, 60 clients.”
Assertion Not checkable as stated
Stepanovich: Gruntify was doing about half its revenue a year ago
“Probably about a half, if that.”
Assertion Not checkable as stated
Stepanovich: GIS People Generated $3M–$4M in 2016 to Fund Gruntify
“No, it was about three or four million dollars at the time. So we invested part of that I guess revenue in, in this Gruntify business because we noticed we started receiving a lot of inquiries about field operations and helping clients automate their workflows…”
Assertion Not checkable as stated
Stepanovich: Gruntify employs 18 to 19 engineers and product staff
“Other than myself the chief financial officer and the chief operational COO there would be effectively all of them are software engineers, testers. We have we use a scrum methodology and agile. So we have, you know, scrum masters and product owners and those k…”
