Insight
Grant: SMBs do not care about multi-system data integrations, enterprises do
“From a technical standpoint, we can integrate into multiple data systems, and we can create apps that have data from Oracle and SAP and Salesforce and Zendesk, and the minute you say that, you realize, like, No SMB gives a crap. They just want their one thing.…”
Opinion
Grant: Channel partnerships allow Appify to grow without hiring sales reps
“We don't actually need to hire any more sales because of the kind of Awesome expansion effect of the channel. So we're able to kind of grow the way we want to grow without actually adding headcount.”
Insight
Grant: Offshore hiring in India fails without experienced local anchors
“If you don't know someone in India already who has been there, done that, it's not a good strategy as even though you look at the financing and you're like, wow, that would be great because it turns out it's actually really hard to hire in India.”
Insight
Grant: Recruited CEOs post-Series A typically receive 6% to 9% equity
“Post series A, it's usually between six and nine. So it's in that range.”
Assertion Not checkable as stated
Grant: Appify's Average Selling Price Is $125k Following Enterprise Pivot
“So now we're, our average selling price is 125 K where, you know, we're, we closed a big 300 and 36 K deal.”
Assertion Not checkable as stated
Grant: Appify serves about 15 enterprise customers
“We've got about 15 enterprises”
Assertion Not checkable as stated
Grant: Appify is just about to reach $1M in ARR
“We're actually right. Just about at the one million error, which we're really excited. Like literally, we're like, just about to go ding and get that.”
Assertion Not checkable as stated
Grant: Appify's largest customer deal covers 8,000 seats
“Our biggest deal right now is 8000 users”
Disclosure
Grant: Appify enterprise ASP is $12k ARR, SMBs pay $1.5k-$3k
“Our average selling price for enterprises is in the 12 K range, 12 K A or R. But we do have a lot of SMBs that are in the 1503 thousand K range.”
Disclosure
Grant: Appify's blended average revenue is around $5,000 per customer annually
“I'd say we're probably average around five K a year”
Assertion Not checkable as stated
Grant: Appify currently has about 45 customers
“We're just at about 45 customers right now.”
Disclosure
Grant: Appify raised an $8M Series A plus a $3.45M extension
“We raised our series a, and then we just did an extension on the round this summer. So we ended up with eight before, and then we added 3.45 this summer”
Disclosure
Grant: Appify shifted to enterprise because SMBs lacked time to build apps
“But there were plenty of, and one of the reasons we shifted to enterprise, there were plenty of S&B customers that didn't really have the resources for an app building platform. Like they just Didn't have time to build apps.”
Disclosure
Grant: Appify operates with 35 employees and a four-person sales team
“So we're at 35 people today. And we kept our sales team to two SDRs. And we have an AE, and then our VP of sales, he actually sells. So we just have those four.”
Assertion Partly supported
Grant: Appify Founder Hari Sold ServiceMax to GE for $1B
“Hari was the co-founder of ServiceMax, brought that company to, sold it to GE for a billion.”
Disclosure
Grant: Appify has about 45 employees across Bangalore and the US
“We've got about 45 folks on the team. We have a big engineering team in Bangalore, and then we have a smaller go-to-market team in the U.S.”
Disclosure
Grant: Appify employs four quota-carrying reps and a sales leader
“We have four right now, plus the leader. So we have three inside sales reps. Plus we just hired what we're calling a strategic account executive”
Assertion Supported
Grant: Rajiv from Mayfield is Appify's lead Series A investor
“Rajiv is from Mayfield is our Main guy.”
