Disclosure certainty 4/5 debate potential 1/5

Carnelli: Truelytics cuts 2020 net new target to $600K max

Jeremy Carnelli · 1759 Founder Hit $1.3m ARR During COVID Getting Customers on 3 Year Contracts, How?! · May 18, 2020 · at 10:01

Jeremy Carnelli, CEO of Truelytics, outlines revised 2020 financial forecasts and cash runway assumptions due to COVID-19 delays.

0:00 / 0:14exact quote · 14.1s
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“Instead of reaching for that Million as a net new reach target. It's now 600,000 at the high end. But if we finish the, if we close 250,000 of net new, we still end the year with a half million in the bank.”

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More from Jeremy Carnelli

Assertion Not checkable as stated
Carnelli: Truelytics is the first transition management SaaS for wealth advisors
“So it's that, and it's the first one of its kind. Up until this point, the industry's really been dominated by professional services.”
Jeremy Carnelli May 18, 2020 ▶ 2:09 1759 Founder Hit $1.3m ARR During COVID Getting Customers on 3 Year Contracts, How?!
Disclosure
Truelytics mandates investment bank to pursue strategic investment or sale
“We just we just actually gave a mandate to an investment bank yesterday after, after going through a pretty rigorous process. And they are going to help us either look for well, generally help us find a strategic. I think that's their mandate.”
Jeremy Carnelli May 18, 2020 ▶ 19:58 1759 Founder Hit $1.3m ARR During COVID Getting Customers on 3 Year Contracts, How?!
Assertion Contradicted
Carnelli: Wealth management needs 250,000 new advisors to meet demand
“And I think Sorelli and associates predicts that the industry needs to recruit and or bring in 250,000 new financial advisors just to meet current demands.”
Jeremy Carnelli May 18, 2020 ▶ 1:29 1759 Founder Hit $1.3m ARR During COVID Getting Customers on 3 Year Contracts, How?!
Assertion Partly supported
Carnelli: Truelytics counts Fidelity and LPL among top enterprise customers
“As far as our top enterprise customers are concerned, we work with Cetera, LPL Capital Group, HD Vest, Brinker Carson Group Advisor Group Fidelity, the like, the likes of that.”
Jeremy Carnelli May 18, 2020 ▶ 4:29 1759 Founder Hit $1.3m ARR During COVID Getting Customers on 3 Year Contracts, How?!
Disclosure
Truelytics counts 7,500 advisory firms across 16 enterprise relationships
“It's 7500 independent financial advisory firms. Now, the bulk of that, 90% of that came from the wealth management enterprises, of which we have 16 of those enterprise relationships.”
Jeremy Carnelli May 18, 2020 ▶ 4:57 1759 Founder Hit $1.3m ARR During COVID Getting Customers on 3 Year Contracts, How?!
Disclosure
Truelytics charges an average ACV of $70k on three-year contracts
“So the average annual contract value is 70,000 dollars, and they pay that they sign up for three-year contracts.”
Jeremy Carnelli May 18, 2020 ▶ 5:16 1759 Founder Hit $1.3m ARR During COVID Getting Customers on 3 Year Contracts, How?!
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