Jeremy Bodenhamer, CEO of ShipHawk, outlines the competitive landscape in logistics software and why mid-market shippers struggle to scale.
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“What we see is we see a fragmented market. We see these SMB and micro shippers, these small guys that have plenty of point solutions. You can probably name a hundred of them. And then you have these enterprise shippers that have these multi-module, you know, very expensive enterprise software. It takes a long time to integrate, costs a fortune. And then in the mid-market, you have very little. And not only do you have very little in the mid-market, you have virtually nothing that connects the bottom with the top.”
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More from Jeremy Bodenhamer
Disclosure
Bodenhamer: ShipHawk altered accounting to eliminate pass-through shipping revenue
“We did some accounting changes because there was some pass through revenue there.”
Jeremy BodenhamerApr 28, 2019▶ 11:031373 300 Companies Use Him to Ship, $8m in ARR, $12.5m Raised
Opinion
Bodenhamer: ShipHawk competitors oversell and underdeliver to ERP partners
“The guys we compete against Weren't delivering on their promises. They basically oversell and under deliver, which made these partners look really bad.”
Jeremy BodenhamerApr 28, 2019▶ 17:161373 300 Companies Use Him to Ship, $8m in ARR, $12.5m Raised
Disclosure
Bodenhamer: ShipHawk's average customer pays roughly $50,000 annually
“The average is probably coming down to about 50,000 bucks a year.”
Jeremy BodenhamerApr 28, 2019▶ 3:501373 300 Companies Use Him to Ship, $8m in ARR, $12.5m Raised
AssertionNot checkable as stated
ShipHawk achieves 115% net revenue retention across its base
“Average last I looked at the board was 15%.”
Jeremy BodenhamerApr 28, 2019▶ 6:161373 300 Companies Use Him to Ship, $8m in ARR, $12.5m Raised
Disclosure
ShipHawk's revenue is heavily concentrated in 50 of its 300 customers
“Those are all paying. The bulk of our revenue comes from right around 50 customers.”
Jeremy BodenhamerApr 28, 2019▶ 9:281373 300 Companies Use Him to Ship, $8m in ARR, $12.5m Raised
AssertionNot checkable as stated
Bodenhamer: ShipHawk is more than doubling ARR year-over-year
“We are more than doubling every year.”
Jeremy BodenhamerApr 28, 2019▶ 11:531373 300 Companies Use Him to Ship, $8m in ARR, $12.5m Raised
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