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Paul Statham

Operating Advisor, Thoma Bravo · 1 appearance on the record.

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founderexecutiveoperatorinvestorthomabravo.com/team/paul-statham ↗

Paul Statham is the founder and former CEO of workspace scheduling platform Condeco, which was acquired by Thoma Bravo in 2021. Following its merger into Eptura in 2022, he transitioned to Eptura's board of directors and serves as an operating advisor at Thoma Bravo.

15statements → 9claims → 1claims resolved → 3.67/5average certainty → 1.07/5average debate potential →

1 supported 0 partly supported 0 contradicted 8 not checkable as stated how the 9 claims stand · each chip opens the sources

9 assertions · 6 disclosures · every statement was checked. The predictions and assertions are the 9 claims: statements the public record can support or contradict. 1 is resolved, and 8 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Paul argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Statham: Condeco Migrated Completely from Perpetual Licenses to SaaS in 2015
“We started life back in the day as a perpetual license company. We migrated in 2015 to entirely SAS.”
Paul Statham Feb 5, 2020 ▶ 6:28 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Everything Paul Statham said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Assertion Not checkable as stated
Statham: Condeco hardware gross margins are close to software margins
“They, professional services were discounted, but the hardware, because we manufacture it ourselves and it's got some unique properties within it. Our gross margin on our hardware is Fairly much quite, quite close to our gross margin on our software. So they we…”
Paul Statham Feb 5, 2020 ▶ 12:57 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Paul Statham: Condeco generates 45% of revenue from subscriptions
“45% of our revenue is now through our subscription. About 20% is through services, and the rest is through hardware.”
Paul Statham Feb 5, 2020 ▶ 2:25 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Paul Statham: Condeco maintains a 95% gross logo retention rate
“You know, we still have a 95% retention rate, which we're very pleased with.”
Paul Statham Feb 5, 2020 ▶ 2:58 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Paul Statham: Condeco achieves roughly 122% net revenue retention
“And our net retention is about a 122%.”
Paul Statham Feb 5, 2020 ▶ 3:14 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Statham: Condeco SaaS customer spend ranges from $2K to $40K monthly
“We have our, probably our smallest SAS is paying us around a couple of thousand dollars a month, and our largest could be paying us 30, 40,000 dollars a month.”
Paul Statham Feb 5, 2020 ▶ 4:07 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Statham: Condeco charges $30/month to $800/year per managed room or desk
“It varies wildly, but depending on the size of the scale, but somewhere in a few hundred dollars, it starts at a few hundred dollars a year. So it can start as low as 30, 40 dollars a month. If you have it with all of the additions with signage and screens, it…”
Paul Statham Feb 5, 2020 ▶ 4:34 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Assertion Not checkable as stated
Statham: Condeco Has Around 1,200 Total Customers
“Our total customer base is around 1200.”
Paul Statham Feb 5, 2020 ▶ 6:46 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Assertion Not checkable as stated
Statham: Condeco overall revenue is growing nearly 30% YoY, SaaS 40%
“We're going around just under 30% year on year, and our SaaS revenue is growing at around 40% year on year.”
Paul Statham Feb 5, 2020 ▶ 7:50 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Disclosure
Statham: Condeco bootstrapped for 16 years before raising Highland capital
“Yeah, that's the only capital. We were bootstrapped for the first 16 years of our life. And we then because of our expansion was just getting so great that we took on some capital from Highland Europe.”
Paul Statham Feb 5, 2020 ▶ 8:06 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Assertion Not checkable as stated
Statham: Condeco generates roughly $4M in monthly revenue
“Yeah, we have about, it's about four million bucks in revenue. Per month, yeah.”
Paul Statham Feb 5, 2020 ▶ 9:21 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Assertion Not checkable as stated
Statham: Condeco had $12M to $15M revenue at funding
“About fifteen million dollars, 12, twelve million dollars.”
Paul Statham Feb 5, 2020 ▶ 9:39 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Assertion Not checkable as stated
Statham: 50% of Condeco Clients Use Hardware, Retention Matches Software Only
“50, 50% of our clients use our hardware. The rest of them are just software. And our retention is similar on both.”
Paul Statham Feb 5, 2020 ▶ 14:04 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Assertion Not checkable as stated
Statham: Condeco CAC is roughly $200 for a $300/year room
“So if you break it down on a cost per acquisition for each room, it's around for a 300 dollar a year room, our cost of acquisition is coming out around 200 dollars.”
Paul Statham Feb 5, 2020 ▶ 15:34 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Assertion Supported
Statham: Condeco Migrated Completely from Perpetual Licenses to SaaS in 2015
“We started life back in the day as a perpetual license company. We migrated in 2015 to entirely SAS.”
Paul Statham Feb 5, 2020 ▶ 6:28 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling
Assertion Not checkable as stated
Statham: Condeco Has 100 Sales and Marketing Staff
“No, we have a, we have over in our total sales team, sales and marketing accounts for about a hundred people within the business. We have a 10 man inside sales team. We have a 35 man outside sales team. We have channel teams. We have marketing teams.”
Paul Statham Feb 5, 2020 ▶ 6:55 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Appearances (1)

EpisodeDateSpeaking time
1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling Feb 5, 2020 9m
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