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Simon Woodside

Advisor, The Forge · 1 appearance on the record.

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founderexecutiveengineerLinkedIn ↗simonwoodside.com ↗

Simon Woodside is a Canadian entrepreneur and engineer who co-founded MedStack, a compliance-as-a-service cloud hosting platform for digital health applications. Earlier in his career, he worked at Apple and created the mobile 2D barcode technology Semacode.

9statements → 6claims → 1claims resolved → 3.78/5average certainty → 1.33/5average debate potential →

1 supported 0 partly supported 0 contradicted 5 not checkable as stated how the 6 claims stand · each chip opens the sources

1 prediction · 5 assertions · 2 disclosures · 1 what if · every statement was checked. The prediction and assertions are the 6 claims: statements the public record can support or contradict. 1 is resolved, and 5 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 Simon 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
MedStack differentiates from hyperscalers with enforced, mandatory security defaults
“This is what really differentiates us from, like, an Amazon or an Azure is, you know, for MedStack, firewalls are on by default, and our customers can't turn them off. We encrypt all incoming communications. By default, you can't turn it off. We back up everyt…”
Simon Woodside Dec 21, 2021 ▶ 13:07 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Simon Woodside on measured tape to publish a rate. This says nothing about how they speak.

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

What-if
Woodside claims MedStack's valuation suffered from being based in Canada
“And then the other thing is, you know, we're a Canadian company, so we don't get the Silicon Valley. If we were a Silicon Valley company, yeah, we would have it would be a different story, but you know what?”
Simon Woodside Dec 21, 2021 ▶ 10:51 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation
Assertion Supported
MedStack differentiates from hyperscalers with enforced, mandatory security defaults
“This is what really differentiates us from, like, an Amazon or an Azure is, you know, for MedStack, firewalls are on by default, and our customers can't turn them off. We encrypt all incoming communications. By default, you can't turn it off. We back up everyt…”
Simon Woodside Dec 21, 2021 ▶ 13:07 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation
Assertion Not checkable as stated
MedStack averages $1,500 to $2,000 in monthly revenue per customer
“So the average is you know, there's definitely quite the range from small to large, but kind of like typically between, you know, our average is going to fall like 1500 to 2000 US dollars a month.”
Simon Woodside Dec 21, 2021 ▶ 2:14 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation
Assertion Not checkable as stated
MedStack serves approximately 90 total customers
“I think it's around 90.”
Simon Woodside Dec 21, 2021 ▶ 3:19 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation
Prediction Not checkable as stated
MedStack projects $2M ARR by the end of 2021
“We're just shy of two million ARR. So it's like probably a little bit less than that, but we'll, we'll be hitting two million ARR by the end of the year.”
Simon Woodside Dec 21, 2021 ▶ 3:33 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation
Disclosure
MedStack closes $3.1M funding round led by Blu Ventures and Telus
“So we actually just completed a raise of 3.1 million. And so that was led by blue ventures and tell us one of our previous investors investors as well.”
Simon Woodside Dec 21, 2021 ▶ 4:27 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation
Assertion Not checkable as stated
MedStack estimates its net revenue retention between 110% and 120%
“No, I don't think we're quite there. I think it's, I don't, I think it's like 1.1 or 1.2, something like that.”
Simon Woodside Dec 21, 2021 ▶ 9:34 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation
Assertion Not checkable as stated
MedStack hit Azure quota limits running 750 VMs and databases
“With Azure, we, like, we're hitting quota limits, because we're running, like, a lot of resources. I mean, you know, it's like, 750 different VMs and databases, which may not seem that much for some people running enterprise stuff, but we were certainly hittin…”
Simon Woodside Dec 21, 2021 ▶ 12:00 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation
Disclosure
MedStack has grown to 15 full-time employees
“Oh, we're 15 now.”
Simon Woodside Dec 21, 2021 ▶ 7:02 MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation

Appearances (1)

EpisodeDateSpeaking time
MedStack Grows 300% TTM, Raises $3.2m Seed at $15m Valuation Dec 21, 2021 8m
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