Enzyme experiences zero customer churn unless a client gets acquired
Jared Seehafer · 1641 How He Helps Medical Devices Get To Market Faster, 0-$1m in ARR in 12 Months · Jan 21, 2020 · at 8:40
Enzyme co-founder and CEO Jared Seehafer discusses unit economics and retention mechanics for Enzyme's medical device compliance SaaS platform.
0:00 / 0:10exact quote · 10.0s
720p mp4 · rendered on demand · StarZero watermark
“Well, so, for the nature of our business is such that we don't really see churn. Churn for us is, is a customer getting bought or acquired, and so.”
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 Jared Seehafer
Seehafer: Medtech failures often stem from market delays, not product quality
“What I found is being an engineer that it would take forever to get your products on the market, and it was very expensive, and you saw a lot of failures that weren't necessarily related to whether the product was any good or not, or did what it said”
Seehafer: Enzyme aims to radically automate life science regulatory documentation
“What we're trying to do at Enzyme is to use software to radically simplify the amount of human labor that goes into making all of this documentation that the government needs to say yes or no.”
Enzyme's annual contract values range from five to seven figures
“So it's anywhere depending on company size from a five figure to a seven figure a year type of situation.”
Seehafer: Enzyme has 21 production customers across startups and enterprises
“We've got 21 companies that are using the platform in production of various sizes, everything from sort of, you know, product teams, the large organizations, enterprise organizations, to like I said, kind of a garage startup.”
Seehafer: SF cost of living favors building quasi-remote teams
“It's just that the cost of living situation has sort of made it advantageous to really try to make a quasi remote organization from the ground up.”
Enzyme will increase burn to build an enterprise sales force
“No, I mean, so where we are going to be burning money is going to be, as we sort of drive from you know, transitioning the company is something that's serving these small organizations to larger enterprises, going to necessitate an enterprise sales force. And …”