Disclosure certainty 4/5 debate potential 2/5

Patel: InsurMe avoids virtual sales meetings, traveling in-person for all deals

Sonny Patel · 1738 How He Got First Enterprise Customers to Pay $120k ACV's · Apr 27, 2020 · at 7:18

Sonny Patel explains InsurMe's enterprise sales strategy and why travel and entertainment form the majority of customer acquisition costs.

0:00 / 0:09exact quote · 9.4s
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“So we don't do any go to meetings or anything like that at our company. We travel out to the company meet with their teams. So it's a lot of travel entertainment expenses, to be honest with you.”

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More from Sonny Patel

Assertion Partly supported
Patel: Coplex Accelerator charges $120k plus sprint costs for zero equity
“Well, so it's a 120 grand plus you have to pay for sprints and designs.”
Sonny Patel Apr 27, 2020 ▶ 5:43 1738 How He Got First Enterprise Customers to Pay $120k ACV's
Assertion Not checkable as stated
InsurMe has three active carrier customers, including one Fortune 100 insurer
“So right now we have three active customers two regional carriers, one Fortune, 100 insurer and then we're bringing on an additional four in Q-one and Q-two of this year.”
Sonny Patel Apr 27, 2020 ▶ 3:15 1738 How He Got First Enterprise Customers to Pay $120k ACV's
Assertion Not checkable as stated
InsurMe reached $30,000 in monthly revenue, projecting $45,000 next month
“Yeah, we're at, well, this month was 30 and then next month it's going up to 45.”
Sonny Patel Apr 27, 2020 ▶ 3:29 1738 How He Got First Enterprise Customers to Pay $120k ACV's
Disclosure
Patel: InsurMe spends $15k CAC to land a $10k MRR enterprise client
“Fully weighted is 15,000.”
Sonny Patel Apr 27, 2020 ▶ 7:11 1738 How He Got First Enterprise Customers to Pay $120k ACV's
Assertion Not checkable as stated
Patel: InsurMe counts Principal Financial and Farm Bureau as customers
“So we have currently, we have principal financial group Farm Bureau financial group, and then we're starting just in a couple of weeks with American enterprise.”
Sonny Patel Apr 27, 2020 ▶ 9:47 1738 How He Got First Enterprise Customers to Pay $120k ACV's
Disclosure
Patel: InsurMe is raising its seed round on an $8M cap
“It's a eight million dollar cap.”
Sonny Patel Apr 27, 2020 ▶ 10:59 1738 How He Got First Enterprise Customers to Pay $120k ACV's
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