Assertion Not checkable as stated
Future captures 50% of the global large enterprise law firm market
“50% of any large enterprise law firm anywhere in the world uses future and the same sort of figures for kind of accounting or you know, commercial real estate, other, other types of similar nature businesses.”
Assertion Not checkable as stated
Future experiences roughly 0.3% annual churn, losing about one client yearly
“Yeah, so, so we're more like 0.3% churn, i.e. We lose about one client a year, and that's more often than not because a merge has happened or something out of our control.”
Assertion Not checkable as stated
Future's global total addressable market is only about 2,000 potential buyers
“There are probably 2000 people in the world that can buy our services.”
Assertion Not checkable as stated
Future reached $10M ARR before Brexit currency shifts impacted revenue
“So we're approaching ten million annual reoccurring revenue. In fact we were at ten million, but Brexit happened and changed our figures a bit.”
Assertion Not checkable as stated
Future grew turnover 30% annually since 2007 while maintaining profitability
“We've grown 30% every single year in terms of turnover since the start of the company and we've always been profitable.”
Disclosure
Future is entirely bootstrapped and wholly owned by its four founders
“Still bootstrapped. Yep. Still, still, still, you know, still owned by the four people that started it.”
Assertion Contradicted
Stevens: Future's four co-founders split equity equally at 25% each
“25 each.”
Assertion Not checkable as stated
Future reaches 300 paying enterprise customers
“So we've got 300 customers.”
Assertion Not checkable as stated
Future spent $300k yearly on a two-person sales team for a decade
“So we had two, two people for about eight years, maybe nine years. We had two people in the, that was the entire sales and marketing team. I think our spend per year was somewhere in the region of 300,000 dollars.”
Assertion Not checkable as stated
Future typically closes three- to five-year enterprise contracts
“Nathan, we normally do three to five year contracts.”
Disclosure
Future pays sales reps 8% to 12% commissions based on contract length
“We do eight, 10, and 12, whether it's a one-year, three, or a five-year.”
Assertion Not checkable as stated
Stevens won an enterprise client by agreeing to ride a mechanical bull
“I said, I would do a riding the mechanical bull if you take a demo of the future platform. She said, okay. So I did the bull. I lasted about five seconds before I got fired into the side. And then she took a demo and became a client.”
Disclosure
Future employs roughly 65 to 70 staff globally
“We're about 70, 65, 70. That's split between London, we've got about 55 in London, and then 20 between New York and Sydney.”
Disclosure
Future's co-founders take different salaries, with Stevens earning sales commissions
“We've got different salaries depending on the roles that we're doing. So, so as we've got to a level where we're operating like a normal company, we've got different people doing different things. So the salespeople, and I'm one salespeople, part of my remuner…”
