Insight
Seehafer: Medtech failures often stem from market delays, not product quality
“What I found is being an engineer that it would take forever to get your products on the market, and it was very expensive, and you saw a lot of failures that weren't necessarily related to whether the product was any good or not, or did what it said”
Disclosure
Enzyme experiences zero customer churn unless a client gets acquired
“Well, so, for the nature of our business is such that we don't really see churn. Churn for us is, is a customer getting bought or acquired, and so.”
Disclosure
Seehafer: Enzyme aims to radically automate life science regulatory documentation
“What we're trying to do at Enzyme is to use software to radically simplify the amount of human labor that goes into making all of this documentation that the government needs to say yes or no.”
Disclosure
Enzyme's annual contract values range from five to seven figures
“So it's anywhere depending on company size from a five figure to a seven figure a year type of situation.”
Assertion Not checkable as stated
Seehafer: Enzyme has 21 production customers across startups and enterprises
“We've got 21 companies that are using the platform in production of various sizes, everything from sort of, you know, product teams, the large organizations, enterprise organizations, to like I said, kind of a garage startup.”
Insight
Seehafer: SF cost of living favors building quasi-remote teams
“It's just that the cost of living situation has sort of made it advantageous to really try to make a quasi remote organization from the ground up.”
Disclosure
Enzyme will increase burn to build an enterprise sales force
“No, I mean, so where we are going to be burning money is going to be, as we sort of drive from you know, transitioning the company is something that's serving these small organizations to larger enterprises, going to necessitate an enterprise sales force. And …”
Assertion Not checkable as stated
Enzyme is close to achieving cash-flow positivity
“Not quite, but close.”
Assertion Supported
Seehafer: Life science startups spend hundreds of thousands on regulatory compliance
“You're talking of spending hundreds of thousands of dollars, in addition to the development cost of your product, for your product to ever see the light of day.”
Assertion Not checkable as stated
Seehafer: Enzyme landed its first customer from an impromptu 15-minute demo
“All basically sort of when the space, 15 minutes had the demo, the product was a total mess, but it was doing enough that they found it valuable and we've been working with it ever since.”
Disclosure
Enzyme has raised a couple million dollars in total capital
“Couple million, yeah.”
Disclosure
Seehafer: Enzyme operates with an eight-person team
“So we've got eight, eight people on staff here and we've various kind of mix of developers and sort of regulatory experts.”
