Andrew Maloney, co-founder and COO of Query.ai, discusses the company's early contract structure and net dollar retention with host Nathan Latka.
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“We closed our first customer in July of 20 and that was actually a multi-year paid annual deal, right? So there was no upsell opportunity until the third year of that contract.”
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More from Andrew Maloney
Insight
Modern security requires decentralized data access rather than central aggregation
“The real market problem that we saw and aligned to as we really started to kind of test and validate is the need to do this across decentralized platforms because no one again has all that data in one place, which kind of an obvious aha moment looking back as …”
Andrew MaloneyFeb 7, 2022▶ 4:45Security SaaS Hits $1m ARR, $70m+ valuation on $15m Series A
PredictionNot checkable as stated
Query.ai targets $15M in ARR by the end of 2023
“We'd like to be at, or as close to fifteen million in ARR by the end of 20, 23, as we can be, which would make us, you know, hyper growth kind of company.”
Andrew MaloneyFeb 7, 2022▶ 8:36Security SaaS Hits $1m ARR, $70m+ valuation on $15m Series A
PredictionNot checkable as stated
Query.ai aims to reach $200k average contract values per customer
“And I think realistically we can get into the 200 K range pretty easily on our average customer.”
Andrew MaloneyFeb 7, 2022▶ 2:45Security SaaS Hits $1m ARR, $70m+ valuation on $15m Series A
Disclosure
Query.ai ASP is under $100k, forecasting $125k in 2022
“Our ASPs today are just under a hundred K. We're planning on growing those to a one 25 and our 20, 22 forecast plans.”
Andrew MaloneyFeb 7, 2022▶ 2:39Security SaaS Hits $1m ARR, $70m+ valuation on $15m Series A
AssertionNot checkable as stated
Query.ai secured just under 10 enterprise customers by late 2021
“We have just under 10 customers today with a couple more. We hope to get done in the last couple of weeks, always down to crunch time in the year.”
Andrew MaloneyFeb 7, 2022▶ 5:59Security SaaS Hits $1m ARR, $70m+ valuation on $15m Series A
PredictionNot checkable as stated
Query.ai targets $4M in ARR by the end of 2022
“22 would be collectively about four million.”
Andrew MaloneyFeb 7, 2022▶ 8:47Security SaaS Hits $1m ARR, $70m+ valuation on $15m Series A
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