Prediction Not checkable as stated
Siozos: Corporate training will never return to multi-hour hotel seminars
“There is no future, at least in the next two, three, four years, without COVID, That the business that wants to train 400 employees will get them into a hotel for five hours of PowerPoint. There will be a riot.”
Insight
Startups with unstable metrics should avoid fixed sales quotas upfront
“When you have a company that's learning and growing and the numbers are not stable, you don't go out with like with a specific quota. This is something that we created along with the sales with the salespeople.”
Disclosure
LearnWorlds treats its entry-level subscription tiers as loss leaders
“For us, the lower plans are effectively, you know, lost leaders. We're trying to give them an easy ramp into the platform, get them to start to use the tool and get into online courses with the bigger plans.”
Assertion Not checkable as stated
LearnWorlds' customer retention on higher-tier enterprise plans is nearly 100%
“Once you load a few dozen thousand customers onto a platform, it's extremely Difficult to switch to a different to a different tool. So the stickiness there is is almost a hundred percent.”
Disclosure
LearnWorlds raised $32M from Insight Partners following a €1M seed
“We had a small round of about one million euro two years ago, and just last week, we announced a funding round of thirty-two million dollars with Insight Partners”
Disclosure
LearnWorlds surpasses 4,500 active customers
“We have over four and a half thousand customers right now.”
Disclosure
LearnWorlds average customer pays around $120 per month
“Average customer is around 120 right now.”
Disclosure
LearnWorlds monthly revenue exceeds $540,000
“There are some other like lines of business and mobile applications that we're selling and other stuff which make it slightly bigger.”
Assertion Not checkable as stated
LearnWorlds achieved 200% revenue growth in 2020 during the pandemic
“Well in our growth rate in twenty-twenty was about 200%. So we were already growing by about a hundred percent per year.”
Assertion Not checkable as stated
Over half of LearnWorlds' sales funnel is entirely automated
“Less than half of our pipeline comes through the salespeople. We are very much a product led company. So more than half of our funnel is automated.”
Assertion Not checkable as stated
LearnWorlds maintains an annual gross customer retention rate around 90%
“Yeah, it's around 90%.”
Disclosure
LearnWorlds' $32M funding round included secondary distributions for early stakeholders
“Not all of it goes into the business, but so there is some distribution with this funding.”
Disclosure
LearnWorlds headcount reaches 75 employees
“We're at 75 people right now and growing, so online courses are super hot, so the past few months have been amazing for us.”
Disclosure
LearnWorlds' three co-founders split equity evenly in early years
“We're three co-founders. We split evenly in the first couple of years.”
Disclosure
Early LearnWorlds team worked purely for equity without taking salaries
“We couldn't pay them proper salary back then. Nobody got a salary. So they also got into the business with some like with some with some equity.”
Disclosure
LearnWorlds account executives conduct roughly 20 demo calls per week
“Our account executives do about 20 calls per, per week.”
Disclosure
LearnWorlds' sales-assisted customers typically purchase the $2,500 annual plan
“Usually the people that go to our salespeople and want to be sold to and go through the sales process usually they buy our middle plan, which is at two and a half thousand dollars per per year.”
Disclosure
LearnWorlds pitched over 60 top US and European VCs before raising
“So in the past few months, we talked with I guess, Over 60 of the top VCs in in US and in Europe.”
