Optimove bootstrapped for eight years before raising a $20M growth round
Pini Yakuel · 1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise" · Jun 25, 2018 · at 9:30
Pini Yakuel, founder and CEO of Optimove, discloses the company's funding history during an interview with Nathan Latka.
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“We've been bootstrapping all the way to, like, a year and a half ago, in which we took our first round of growth funding of twenty million dollars.”
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More from Pini Yakuel
Yakuel: Enterprise SaaS revenue per employee typically ranges from $150K to $220K
“Usually there's like a metric that says, okay, so how much you're making per employee is like SAS revenue per employee. And typically that number, you know, goes between 150,000 to 220, something like that.”
Yakuel: Raising capital provides credibility and stock value for M&A
“There's a few more things you're getting from a, from fundraising, right? You're getting an external credibility that you never, I've never had as a bootstrap kind of like for eight, eight years. And you're getting the ability to buy companies all of a sudden,…”
Optimove's average customer contract is around $130K per year
“So I would say that like our price point is around 130 K a year.”
Optimove is cash-flow positive and has always been profitable
“If typically we build a business as a bootstrap, we're cashflow positive, we've always been profitable.”