Grain co-founder Mike Adams explains that MissionU chose an acquisition by WeWork while holding $8.5 million in the bank.
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“We still had an eight and a half million dollars in the bank. So we made a call. It's not like we ran out of the money.”
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More from Mike Adams
Disclosure
Mike Adams discloses unannounced $3M SAFE raise for Grain
“So it's one at the beginning and then three in a price round, that four was announced and we raised an additional three that has not yet been announced.”
Mike AdamsMay 25, 2021▶ 7:21Zoom Recording Tool Grain Hits 300 Teams, On Track for $1m ARR, New $3m Raise in Upround
PredictionNot checkable as stated
Grain is on track to hit $1M ARR by end of 2021
“Oh, absolutely. I mean, for us, the growth rate is continuing to grow and increase. We've just been, just begun to tap the market. And so we're absolutely on track for that, that being our goal this year.”
Mike AdamsMay 25, 2021▶ 15:56Zoom Recording Tool Grain Hits 300 Teams, On Track for $1m ARR, New $3m Raise in Upround
Disclosure
Adams: MissionU's acquisition by WeWork was a flat exit
“It's a flat exit for everybody.”
Mike AdamsMay 25, 2021▶ 2:06Zoom Recording Tool Grain Hits 300 Teams, On Track for $1m ARR, New $3m Raise in Upround
Disclosure
Grain co-founder Mike Adams discloses $7M raised and 15-person team size
“So it's been about seven million dollars total that we raised. And our team is about 15 people.”
Mike AdamsMay 25, 2021▶ 7:08Zoom Recording Tool Grain Hits 300 Teams, On Track for $1m ARR, New $3m Raise in Upround
AssertionNot checkable as stated
Adams confirms Grain's follow-on SAFE had a substantially higher valuation cap
“Substantially higher.”
Mike AdamsMay 25, 2021▶ 8:42Zoom Recording Tool Grain Hits 300 Teams, On Track for $1m ARR, New $3m Raise in Upround
AssertionNot checkable as stated
Adams: The average customer team using Grain is about three people
“The average team is about three people right now.”
Mike AdamsMay 25, 2021▶ 12:34Zoom Recording Tool Grain Hits 300 Teams, On Track for $1m ARR, New $3m Raise in Upround
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