Package.ai raised its 2017 pre-seed at a $1M to $1.5M valuation
Ziv Foss · $1.4m ARR Furniture Delivery Chatbot Company Growing 200% YoY, Raising $5m Now · Dec 4, 2021 · at 12:02
Ziv Foss is the co-founder and CEO of Package.ai. He discusses the valuation and equity terms of the company's initial 2017 funding round.
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“So in 2017, we raised at it was I don't remember like, you know, exactly, but you know, somewhere between one and 1.5 million.”
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More from Ziv Foss
Package.ai claims it has experienced zero customer churn to date
“We've had zero churn today. So, you know, no customers left us.”
Package.ai's average customer contract value is roughly $60,000 per year
“So the sweet spot is about 60,000 dollars a year. So that's kind of what we think of as a medium size customer. We have some smaller ones and we have a few larger ones. And generally as many other SaaS companies, we're kind of trending up in the account values…”
Package.ai raised $3M from angels and insiders, avoiding traditional VCs
“We've raised about a three million dollars to date. So no VCs, you know, more kind of friends and family and industry insiders.”