Disclosure certainty 5/5 debate potential 1/5

Shaw: Better Agency is raising $2.1M at a $15M post-money valuation

Will Shaw · BetterAgency CRM for Insurance Hits $1m ARR, Raises $2m on $15m Valuation · Jul 3, 2021 · at 3:58

Will Shaw is the co-founder of insurance CRM platform Better Agency, speaking with Nathan Latka about the details of their seed funding round.

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“So we're going to raise a total of 2.1 million. It's going to be at a fifteen million dollar post.”

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More from Will Shaw

Disclosure
Better Agency Yields 25 Customers per $10k Spend, Converts 70%
“So on tenk in spend, we'll get about 25 net new customers, so we'll get a bunch of trials, and we convert about 70% of those trials, so that'll equate to about 25 new paying customers.”
Will Shaw Jul 3, 2021 ▶ 8:09 BetterAgency CRM for Insurance Hits $1m ARR, Raises $2m on $15m Valuation
Disclosure
Better Agency Cancels Inactive Trial Accounts to Force Re-Engagement
“If they don't engage with our onboarding team, we look at a trial as a, as an opportunity for a paying customer. So we immediately start reaching out and trying to onboard. They don't engage with us and they have no usage. We'll preemptively cancel their accou…”
Will Shaw Jul 3, 2021 ▶ 8:29 BetterAgency CRM for Insurance Hits $1m ARR, Raises $2m on $15m Valuation
What-if
Shaw: Better Agency could have achieved a higher valuation in a frothy market
“We could have totally have driven it higher. I mean, the market, you know, better than I do, the market's pretty frothy right now, and we could have driven it higher, but we were really, my biggest problem with fundraising was telling people no, and the reason…”
Will Shaw Jul 3, 2021 ▶ 4:25 BetterAgency CRM for Insurance Hits $1m ARR, Raises $2m on $15m Valuation
Disclosure
Shaw: Better Agency excludes upsells and upgrades from affiliate commission payouts
“So what we do is it's on the base application that they bring in, and then we kind of take on charge of upgrading them, and so we don't pay out the upgrades to the affiliates.”
Will Shaw Jul 3, 2021 ▶ 11:06 BetterAgency CRM for Insurance Hits $1m ARR, Raises $2m on $15m Valuation
Disclosure
Better Agency targets spending up to $1,500 CAC for 10:1 ratio
“So right now we're willing to spend upwards of 1500 dollars to get all in to get a customer because we can eat We can keep that kind of 10 to one ratio.”
Will Shaw Jul 3, 2021 ▶ 13:15 BetterAgency CRM for Insurance Hits $1m ARR, Raises $2m on $15m Valuation
Assertion Not checkable as stated
Shaw: Much of Better Agency's competition isn't on the cloud
“There's a lot of things we run into where companies have been in this space since the eighties and nineties. And a lot of them haven't, you know, a lot of our competition isn't even necessarily on the cloud.”
Will Shaw Jul 3, 2021 ▶ 14:38 BetterAgency CRM for Insurance Hits $1m ARR, Raises $2m on $15m Valuation
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