Soumya Murthy responds to Nathan Latka asking whether Seven Lakes Technologies can break $10 million to $12 million in ARR in 2021.
Assertion Not checkable as stated
Seven Lakes sold $100M in cumulative services before pivoting to SaaS
“I know up until the point the company had sold Around hundred million dollars in services. So he had a course of years, right?”
Disclosure
Seven Lakes built its marketing team using an internal six-month upskilling program
“So what we did was, we created a six month program to say, look guys, you self enroll, you self exit. This is you saying you want to do this, right? Full agency. And you get creative ownership, front of board, executive coaching. These are folks taking on some…”
Assertion Not checkable as stated
Murthy: ExxonMobil and ConocoPhillips Executives Shared Exclusive Intel With Seven Lakes
“The thing that I never saw coming that was Fabulous was in the trenches were executive level ExxonMobil, ConocoPhillips, giving us market knowledge that they weren't giving the competitors, helping us in deals, giving us competitive intelligence, being more pr…”
Assertion Not checkable as stated
Upstream oil operations still rely on physical grease sheets for data
“They were using grease sheets and paper to be able to drive millions, if not billions of oil production data from the place of where the oil is produced to the office space. So your entire inventory and production and everything else is run on grease sheets an…”
Insight
Murthy: Oil Operators Must Prove Free Cash Flow and Operational Tech Efficiency
“So what the market is now saying to the industry is, Hey, look, You can't just do production. You need to show me free cashflow. You need to be able to demonstrate operational efficiency, which means what you can't just, when the oil price goes down, just, you…”
Assertion Not checkable as stated
Murthy: Seven Lakes maintained 11% India attrition versus 29% Bangalore average
“The Indian average Bangalore average attrition rates about 29 percent or so. Ours was at its best 11%.”