Assertion Not publicly verifiable
Evotix faced an $11M lawsuit from its largest customer upon acquisition
“Well, we were being sued for eleven million dollars by our largest customer.”
Assertion Partly supported
Elson: 5,000 People Die Annually in Western Workplaces from Preventable Causes
“So how can it be acceptable that in European and North American workplaces, we're still killing 5000 people a year. And it's mostly from causes which are well understood and easily preventable.”
Assertion Not checkable as stated
Elson: Evotix countersued its largest customer and secured a $300k settlement
“Well, we sued them. And then it went to a mediation and we faced them down across the table and they paid us 300,000 dollars, which kept the business afloat.”
Insight
Customer success teams miss large enterprise expansions without dedicated hunter reps
“So what we found was we previously had just had a customer success function. And what we found was that, that we were picking up the smaller upsells, but we weren't driving the big expansion deals. And so I've got the team now who are more hunters who are wher…”
Disclosure
Matt Elson acquired turnaround SaaS startup Evotix for exactly one dollar
“And so I bought it for the proverbial dollar because it was very much a turnaround.”
Assertion Not checkable as stated
Elson: Evotix has between 400 and 500 paying customer companies
“We're kind of between four and 500.”
Assertion Not checkable as stated
Elson: Over 2 million total employees are on Evotix platform
“North of two million.”
Assertion Partly supported
Network Rail deploys Evotix platform to all 100,000 of its employees
“So for example, network rail, big UK business, a 100,000 employees so that all of their employees will be using our platform.”
Assertion Not checkable as stated
Elson: Evotix averages roughly $25,000 in ARR per customer
“Pretty average ARR, 25,000 dollars or so.”
Disclosure
Elson: Evotix has decent runway and is rapidly approaching breakeven
“So A was 2018, B was 2020. We're still living off that capital. You know, we got decent runway. We're sort of, we're still burning a little, but we're moving pretty rapidly towards breakeven.”
Disclosure
Matt Elson retained nearly 50% equity in Evotix after Series B
“I'm still the largest shareholder, but slightly below majority.”
Assertion Not checkable as stated
Evotix reached a valuation over $100 million after $1 acquisition
“Now we're north of a hundred. Yeah. I mean, subject to, of course, to where we are in the markets at the moment.”
Assertion Not checkable as stated
Elson: Evotix grew 43% in the past 12 months
“We've grown 43% in the last 12 months.”
Disclosure
Elson: Evotix raised about $10M across Series A and B
“We've done we've done A round and B round now. So we've got about ten million of external capital.”
