Disclosure
Kirschbaum Pivoted Sococo From Proprietary Stack to Third-Party Integrations
“So it was a completely proprietary platform. And now the shift has been since coming on board so that it is focused on Connecting to the other tools that people use and make them available inside Sokoko. For example, Slack.”
Insight
Kirschbaum: Turnarounds Require Relentless Message Repetition for Employee Buy-In
“And so much of it is focused on communication and consistency in the messaging, right? Because if it's in my head, I got it and I'm committed, but how do I make sure I translate that to the employees and repeat it consistently and then give examples of how we'…”
Assertion Not checkable as stated
Sococo Pilots Start at 50 Seats and Expand to Thousands
“You know, from a land and expand approach, if it's a team that is getting on board, then you're looking at 50 to a hundred users initially in a pilot. And that has grown for our customers into the hundreds. And we actually have customers in the thousands of us…”
Assertion Partly supported
Sococo Raised $10M to $14M Total Across Two Funding Phases
“Yeah, so since 2015, 2015 or so, there's been approximately, you know, five to seven million dollars that has gone into the company, and the three years prior to that, there was probably about the same amount of money.”
Assertion Not checkable as stated
Sococo Reaches Tens of Thousands of Users and Fortune 100 Clients
“So we have scaled you know, into the good, strong five digits of users and several hundred, hundred customers.
[757] Nathan Latka: Okay.
[757] Mark Kirschbaum: And these include fortune 100 companies.”
Assertion Not checkable as stated
Sococo Hits 61% Year-Over-Year Revenue Growth Under Kirschbaum
“So we're growing 66% year over year.
[826] Mark Kirschbaum: Excuse me, 61%.”
Assertion Not checkable as stated
Sococo Maintains 92% Customer Logo and Net Revenue Retention
“And we've had 92% customer retention.
[830] Nathan Latka: That's logo or revenue?
[833] Mark Kirschbaum: that is both logo and revenue.”
Assertion Not checkable as stated
Sococo Converts 20% to 30% of Daily Organic Inbound Leads
“And we're seeing 20 to 40 walk-up leads a day coming into Sokoko, and we're converting those at about a 20 to 30% clip.”
Prediction Not checkable as stated
Kirschbaum Aims for Sococo to Break $1M MRR by Late 2019
“My goal for end of 2019 is to break the one million MRR.”
Disclosure
Sococo Plans to Raise $7M Growth Round in Coming Months
“So we're looking to raise in the seven million dollar range in the next few months.”
Disclosure
Sococo Charges $15 Per User Monthly for Virtual Office SaaS
“It's 15 dollars on a per user basis. And then obviously there's an annual discount and a volume discount.”
Disclosure
Kirschbaum Originally Joined Sococo Board to Represent Lead Investor
“So I represent the lead investor as one of my clients who's the lead investor in Sokoko and has continued to support the company financially.”
Assertion Not checkable as stated
Sococo Achieves 12 to 13 Month CAC Payback Period
“We're recovering that in about 12 to 13 months.”
