Greenhouse co-founder and CEO Daniel Chait discusses the recruitment software company's funding history with Nathan Latka.
Insight
Chait: Every VC round requires completely different proof points from founders
“Every round is very different than the last. So you just figured out this process of like, okay, what do these investors want? And how do they think about your company? And you fail, fail, fail, fail, fail, and you get the one who's going to lead the round, an…”
Assertion Not checkable as stated
Chait: Greenhouse prices at the higher end as a premium ATS solution
“Generally, what I'll say is that of our competitors, we tend to price out at the higher end. I think we tend to be seen as more of a premium software solution. So often they'll get quotes from a bunch of like applicant tracking software companies. And then, yo…”
Assertion Not checkable as stated
Chait: Greenhouse reached $1M in revenue in its first product year.
“So, in the end of the year, I think we probably got to a million bucks that year.”
Disclosure
Chait: Greenhouse has reached approximately 2,000 customers.
“Just about 2000.”
Disclosure
Chait: 65% of Greenhouse's business comes from 100-to-1,000-employee companies.
“So this year, for example, about 70% of our business will be about 65% of our business will be between a hundred and a thousand employees.”
Assertion Not checkable as stated
Chait: M&A, closures, and hiring halts drive most Greenhouse churn
“By far, the biggest cause of churn for us, and it always has been since we started, was like, we say like marriage, death, and divorce, right?”