Matt Doyle, founder and CEO of Array, explains his decision to cut costs and prepare for an upcoming seed round in early 2023.
0:00 / 0:17exact quote · 17.7s
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“We started a little bit this year, and it was just a bit frothy, so we decided to cut costs, cut some expenses that were around the business, and get these, like, larger enterprise clients that were starting to upgrade, just get them in the door, get them to where we knew they were going to go, and we're going to be doing a seed round in the new year.”
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More from Matt Doyle
Insight
Doyle: Per-seat SaaS licensing breaks down at high enterprise volumes
“When it goes up to that area, like sometimes these industries, it doesn't, per seat licensing doesn't always make sense. And that's the thing for any founder is probably going to find is software as a service makes sense to a point, but then as soon as you get…”
Matt DoyleDec 13, 2022▶ 3:48Typeform On Steroids Hits $50k in MRR up from $20k 1 year Ago
Disclosure
Doyle: Array's largest customer pays over $20,000 per month
“The biggest is 20,000 plus a month.”
Matt DoyleDec 13, 2022▶ 3:37Typeform On Steroids Hits $50k in MRR up from $20k 1 year Ago
AssertionNot checkable as stated
Doyle: Array enterprise accounts scale from $300 to over $1k/mo in 12 months
“So typically a customer will start around the 300 dollar mark and then scale up. So the enterprise market that we've been focusing on now, they scale over and above that thousand dollar mark within about 12 months.”
Matt DoyleDec 13, 2022▶ 8:00Typeform On Steroids Hits $50k in MRR up from $20k 1 year Ago
AssertionNot checkable as stated
Doyle: Array grew MRR from $10k to $50k in 18 months
“Yeah, so when we raised that, like, VC money about a year and a half ago, we were making about 10 K a month. And now, about 50 K a month.”
Matt DoyleDec 13, 2022▶ 9:05Typeform On Steroids Hits $50k in MRR up from $20k 1 year Ago
Disclosure
Doyle: Array raised $1.3M pre-seed on a $7M SAFE cap
“Seven million cap.”
Matt DoyleDec 13, 2022▶ 13:18Typeform On Steroids Hits $50k in MRR up from $20k 1 year Ago
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