Matthew White, founder and CEO of KeyBot, explains the unit economics and software resale gross margins of his white-label SMB software aggregation platform to Nathan Latka.
Prediction Not checkable as stated
White: $1.5M raise will fund 22-month runway to reach $2M MRR
“That's kind of what it looks like we should need to take us for a 22 months and grow our revenues to what we think could be an average of about two million MRR.”
Assertion Not checkable as stated
White: Qebot has near-zero churn among direct SMB clients
“So we do have some churn when it comes from the marketing agencies, just because the marketing agency has a regular churn, but from our direct clients, SMBs, our churn is basically zero. We really don't lose anything from the franchises, from the small, medium…”
Assertion Not checkable as stated
White: Qebot spends roughly $120 to acquire each marketing agency
“We're seeing right now for an agency, it's typically costing us about a hundred, a 120 dollars to bring on an agency. That is including, like, what we calculated in the sales cost of, you know, myself or one of the other people doing the demos, running through…”
Assertion Not checkable as stated
KeyBot claims a remarkably low 0.5% to 0.6% monthly logo churn
“So I think over the last three months we've seen it was like .5 or six percent very, very low turn for us because when somebody comes to us, they buy a number of tools on our platform, right?”
Assertion Not checkable as stated
White: Qebot signed three new 1,000-client agency accounts
“From what we're seeing with these new agencies that we've signed three new agencies, just three of those five or a thousand location agencies, a thousand client agencies that are going live this month or next month.”
Assertion Not checkable as stated
KeyBot prices partner software tools at or below direct vendor rates
“So they, and our prices typically come in right at, or just sometimes just below what our own partners are actually directly selling those technologies for.”