Annual upfront billing saved Roadmunk from raising an extra $10 million
Lateef Nanji · 1461 Does Your CS Team Carry a Quota? $8M in ARR on $2.5M Raised Roadmunk CEO Explains · Jul 25, 2019 · at 17:00
Lateef Nanji, CEO of Roadmunk, explains how annual billing and Canadian operational efficiency allowed Roadmunk to avoid raising $10M+ in venture capital.
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“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?”
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“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.”
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“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.”