Insight
Stevens: Being too nice is ruinous for a company
“This idea that it is okay to be direct with people and to criticize them when they let you down, but you've got to work on that relationship. But that being too nice is actually ruinous for a company.”
Insight
Stevens: Psychological safety should be measured no more than once a year
“I'm a big believer that psychological safety shouldn't be measured more than annually, because you need to work pretty consistently to get at the core drivers of psych safety.”
Assertion Supported
Stevens: Google's Project Aristotle found psychological safety predicts high performance
“What they found across Every hypothesis tested, over 200 hypotheses, thousands of people, is those teams with the highest levels of psychological safety were the highest performing teams.”
Disclosure
Stevens: WeSpire hired a dedicated people leader for just 25 employees
“We actually decided, and we were small at this time. We were to have 25 people. One of our members of CS hand raised to say, I'll be our first director of people, culture, and impact. And so, you know, you don't normally have a full-time HR culture person in a…”
Assertion Not checkable as stated
Stevens: Micro-inequities, not overt sexism, reduced psychological safety for women
“When we looked at it through a gender, race, income, et cetera lens, women felt significantly less safe, and there were a whole slew of comments of what was happening, and it wasn't what I would call overt sexism. It was all the micro-inequities and the micro-…”
Assertion Not checkable as stated
Stevens: Hypotheses on country-level psychological safety were dead wrong
“You could very much see differences in, in cultures. But a lot of their hypotheses around where things were more safe or less safe were dead wrong.”
Insight
Enterprise legal and InfoSec costs are fixed regardless of deal size
“It's pretty much the cost to acquire is pretty much the cost to acquire. And you know what? It's interesting in enterprise where we see the real expense. I mean, other than the commission expense, obviously that's variable, but where we see the cost is it is t…”
Disclosure
WeSpire customer success reps drive upsells without carrying sales quotas
“They are not quota carrying, but they you know are responsible for upsell.”
Assertion Not checkable as stated
WeSpire achieved a 125% net revenue retention rate year-to-date
“We're seeing this year so far, a 125% net positive, you know, grow it growth off our existing count count base.”
Assertion Not checkable as stated
Stevens: WeSpire generates about $4 million in ARR
“So first of all, just to give you a sense, we are about a four million ARR company.”
Insight
Stevens: Measuring psychological safety scales from 30 to 400,000-person companies
“And then it can apply in small companies like ours, with 30 people, It can apply in one of the organizations we work with has 400,400 thousand employees around the world. So it scales”
Assertion Not checkable as stated
WeSpire charges an average of $12 per employee annually
“So, on average on a per employee basis, it would be about 12 dollars per employee per year.”
Assertion Not checkable as stated
WeSpire serves 35 enterprise clients covering 1.5 million employees
“So we've got about 35 companies. They're almost all in the Fortune 500. They collectively have about 1.5 million employees around the world.”
Assertion Supported
Gartner estimated worker engagement platform maturity at 5 to 10 years
“Two years ago, Gartner finally created a category at the end of 16 around what we do. They called it worker engagement platform. They put six companies in the space and they put it at the very, very beginning of the HCM hype cycle and said it's still five to 1…”
Assertion Not checkable as stated
WeSpire nearly doubled its customer acquisition cost efficiency since launch
“It's a little bit better now than first year ACV, but in the first year, you know, in the early days, it was like a, you know, a one, a CAC ratio of one. We've now gotten it much better. It's all, you know, we almost improved almost, you know, double the cap r…”
Assertion Not checkable as stated
WeSpire implementation costs are virtually identical for 10k or 100k seats
“And then for us implementation is pretty similar between the two as well. Whether you're going to run these campaigns for 10,000 people run them for a 100,000 people, there's not a lot of variable cost in that.”
Assertion Not checkable as stated
WeSpire gross revenue churn is under 6%
“So it's under six percent right now.”
Assertion Not checkable as stated
WeSpire is growing revenue at slightly under 100% year-over-year
“So we're a little less than doubling right now.”
Assertion Supported
Caesars, MGM, Unilever, and Cox Enterprises use WeSpire
“On our website, there's some customers who have been fabulous enough to provide testimonials, so it's customers like Caesars Entertainment, MGM Resorts, Unilever you know, and Cox Enterprises and others who are using us.”
Assertion Supported
WeSpire raised a sub-$2M seed and $6M-plus Series A
“So, it was a little south of two million on the seed, and a little north of six on the A.”
Disclosure
WeSpire is raising a convertible note bridge to its Series B
“We're doing a convertible note right now. Basically that will become part of a formal B round when we go and raise a B round.”
