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Honestly raised a $3M seed round in 2017 before pivoting.

Matteo Fruttental · The Perfect Life: $1.5m revenue with 10% profit margin helping 100 enterprises with employee feedback software · Jul 12, 2022 · at 7:55

Matteo Fruttental is the CEO of Honestly, discussing historical seed financing raised for the company's previous retail feedback kiosk model.

0:00 / 0:02exact quote · 2.9s
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“Three million seed capital five years ago.”

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 Matteo Fruttental

Opinion
Fruttental: Co-founders should always split equity evenly.
“I think that's the only way to go. Like you should look for people who are like better than you at least, and then everyone should think that and then splitting it evenly makes a good deal for everyone.”
Matteo Fruttental Jul 12, 2022 ▶ 12:06 The Perfect Life: $1.5m revenue with 10% profit margin helping 100 enterprises with employee feedback software
Assertion Not checkable as stated
Honestly has reached approximately 70,000 active user licenses.
“I think we're like, 70,000 now.”
Matteo Fruttental Jul 12, 2022 ▶ 1:25 The Perfect Life: $1.5m revenue with 10% profit margin helping 100 enterprises with employee feedback software
Assertion Not checkable as stated
Honestly generates approximately $130,000 in monthly recurring revenue.
“Around it, yes.”
Matteo Fruttental Jul 12, 2022 ▶ 5:58 The Perfect Life: $1.5m revenue with 10% profit margin helping 100 enterprises with employee feedback software
Assertion Not checkable as stated
Honestly doubled its monthly revenue year-over-year to $130,000.
“It was like 50% less, 55% less.”
Matteo Fruttental Jul 12, 2022 ▶ 6:04 The Perfect Life: $1.5m revenue with 10% profit margin helping 100 enterprises with employee feedback software
Assertion Not checkable as stated
Upsells drove 20% to 30% of Honestly's year-over-year revenue growth.
“20 to 30% came from upsells and the rest came from new customers.”
Matteo Fruttental Jul 12, 2022 ▶ 6:16 The Perfect Life: $1.5m revenue with 10% profit margin helping 100 enterprises with employee feedback software
Assertion Not checkable as stated
Honestly maintains a 106% net dollar retention rate.
“Yes, like based on the dollars, not on the number of customers, it's like six percent.”
Matteo Fruttental Jul 12, 2022 ▶ 6:56 The Perfect Life: $1.5m revenue with 10% profit margin helping 100 enterprises with employee feedback software
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