Canadian software engineers cost up to half of Silicon Valley peers
Lateef Nanji · 1461 Does Your CS Team Carry a Quota? $8M in ARR on $2.5M Raised Roadmunk CEO Explains · Jul 25, 2019 · at 19:30
Lateef Nanji, co-founder and CEO of Roadmunk, explains how hiring engineers in Waterloo and Toronto reduces operational burn relative to Silicon Valley peers.
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“We also just don't have the expenditures and burn rates that typical valley companies do, just simply based on the cost of an engineer. It's like, One and a half X less or at least two X less than it is in the Valley.”
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Roadmunk measures customer success teams using the SaaS quick ratio
“We actually do it based on the quick ratio, so we look at both expansion, contraction, churn, and new, if they're closing any deals.”
Annual upfront billing saved Roadmunk from raising an extra $10 million
“So if you were in the valley and you, instead of collecting eighty-twenty, you were collecting fifty-fifty annual and monthly, I ran the numbers. We would have had to have raised two years ago just over ten million dollars, right?”
Nanji advises startups to raise aggressively while market capital is abundant
“There is so much dry powder out there. I mean, it's the macro environment feels very much like those days when anyone could raise money. So organizations should be Trying to stuff their coffers if they can get a good valuation and close on reasonable terms rea…”
Roadmunk's mainstream customers pay an average of around $4,000 annually
“So we have sort of three different segments but on average across, you know, sort of the mainstream of customers, you're looking around 4000 dollars per year.”
Roadmunk's enterprise customers pay between $25,000 and $100,000 per year
“So we do have a whole segment of customers that are a mid market and enterprise that do pay in the more traditional numbers, which would be somewhere between 25 to a hundred K just depending on if they use take advantage of some of our security features.”