Centage is being tracked by KKR and Accel for future investment
Barry Clapp · 809: How This $12m Accounting Biz Moves from On-Prem to SaaS Model · Oct 11, 2017 · at 6:37
Barry Clapp, CEO of budgeting software platform Centage, explains his conversations with growth equity and private equity firms.
0:00 / 0:23exact quote · 23.7s
720p mp4 · rendered on demand · StarZero watermark
“We've been talking then mostly to New York based and California based ones. So we've talked to everybody, KKR and just everybody. We went to this You know, forum where we presented to all the top players and Excel and everybody else. And so they're all tracking us, you know, to get big enough to where there might be some chance to put some money in for leverage, you know, to try to leverage what we're doing.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Barry Clapp
Centage derives roughly one third of revenue from onboarding and training
“About a third of our revenue.”
Clapp: Centage spent $3M-$4M rewriting its on-prem software into SaaS
“And it was an on-prem model until last year. And we converted the product, we invested it on a few, three or four million dollars, and rewrote the entire product. To be a cloud-based, you know, a hundred percent SaaS-based product.”
Centage raised $13.5M total, primarily utilizing $9.5M for recapitalization
“No, 13 and a half million, we raised originally nine and a half million, and a lot of that went to recapitalize the company actually.”
Clapp: Centage's ACV is $35,000 to $40,000 per year
“The average customer is about 35, 40,000 per year.”