Assertion Not checkable as stated
Pearsall: Club Caddie is earliest-stage acquisition in Constellation's history
“We are the earliest stage company that Constellation's ever acquired.”
Assertion Not checkable as stated
Pearsall: Club Caddie Deal Has the Longest Earn-Out in Constellation History
“I have the longest earn out in CSI history.”
Insight
Pearsall: Golf courses function as multiple small businesses under one profile
“And so the complexity of a golf course is that it's many small businesses and one that all have to operate and communicate together under a single customer profile.”
Assertion Not checkable as stated
Pearsall: Early club SaaS lacked depth while legacy server software dominated
“There were mature solutions for full clubs, not just like a golf course with a point of sale and a
Tea sheet, but needing, you know, events and weddings and restaurants and dining reservations and all kinds of other, other apps as well. There were mature solut…”
Insight
Pearsall: Internal case studies are easily cooked; real proof requires third parties
“It's too easy to cook the books on like a case study, right? So the real validation comes from, you know, golf courses. We have no relationship with having that same success and then being able to demonstrate that that is a formula we can repeat elsewhere.”
Insight
Pearsall: US backlog is more valuable than expanding into Canada
“Conversion rates aren't entirely favorable for SaaS companies, and so when you have pent up demand, the most valuable dollars are coming from the U.S., and so, you know, it doesn't make sense to take on Canadian clients, and we have a backlog of U.S. Clients t…”
Disclosure
Pearsall: Club Caddie ARR is a little over $9M
“Yeah, pretty close. Little over that.”
Assertion Not publicly verifiable
Pearsall: Constellation holds 55% global market share in club software
“Constellation software is the market leader in private club software globally. They have 55% market share”
Disclosure
Pearsall: Sold Club Caddie after 15 months of exhausting VC fundraising
“I was running around spending time with investors and not in the operations of my business, and the business was doing well, and I didn't think we had good processes, and I wasn't involved in the, you know, in solving those problems because I was more worried …”
Insight
Pearsall: Answer engines can find any product with schema markup
“Golf course, every product can be found by answer engines if they have a schema.”
Assertion Not checkable as stated
Pearsall: Club Caddie Generates $15,000 Average Revenue Per Golf Course Location
“They're higher than that. And so on average, we look for about an average of 15,000 ARPU per unit.”
Disclosure
Pearsall: Club Caddie has 600 customers, adding 25 monthly in winter
“600 and growing by about 25 every month.”
Assertion Supported
Pearsall: Club Caddie raised only $600K prior to Constellation acquisition
“I only raised 600 K before the CSI acquisition. We raised a 600 K seed round that got us to about 20 19. In 2019, I started fundraising a series A and spent about 15 months getting check commitments and almost had the round closed and then Constellation came i…”
Disclosure
Pearsall: Club Caddie generated $450K in revenue in 2019
“Yeah, our revenue was only 450,000 in twenty-nineteen.”
Assertion Not checkable as stated
Pearsall: Multi-course operator consolidation enables 100-course SaaS enterprise deals
“Multi-course operators has been another fuel of our growth is that there's been a lot of consolidation where we can win one deal and win a hundred accounts where in the past, you know, you haven't been able to do that. You're, you know, one multi-course operat…”
Disclosure
Pearsall: Club Caddie touches every target golf course every quarter
“We touch every golf course, every quarter a different contact point within that golf course too. It's not always The one person that you reach out that makes the decisions and tells, you know, so it's important to go wide and deep in the organization.”
Assertion Not checkable as stated
Pearsall: North America has 15,000 golf courses and 8,000 match Club Caddie's ICP
“For us, there's 15,000 golf courses in North America. Seven, 8000 are within our ICP, you know, ultimately three to four contacts per golf course. There's 35,000 people that we need to get in contact with multiple times a year.”
Assertion Not checkable as stated
Pearsall: Club Caddie has captured a couple dozen leads from ChatGPT
“I know that we have now added within HubSpot is the lead source and origin source, and there's been a couple dozen this year that have come in through it. But you know, we just started tracking it within the last six, seven months.”
Insight
Pearsall: Scaled Operations Are Easier but Less Fulfilling Than Early Building
“Enjoy the journey. I always wanted the outcome to get to where we're at, you know, now, and truthfully, like, the days are easier now, but they're not as fulfilling and they're not as fun.”
Disclosure
Pearsall: Club Caddie Development Began in 2015 to Solve Golf Course Operations
“Then, in operating our golf course, recognized that there wasn't a SaaS solution that was designed to handle a club, you know, like we had purchased and started, started building a SaaS solution in 2015 that became Club Caddy, and it's Club Caddy today.”
