Tom Gibby, co-founder of The Bot Platform, describes the company's past financing round to Nathan Latka.
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Gibby: Customers do not churn once integrated into enterprise tech stacks
“The way we work now with customers is, you know, once we're a part of their tax, their tech stack, they don't leave, you know.”
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Gibby: The Bot Platform opted for bootstrapping over venture capital in 2019
“We toyed with the idea of raising about a year, well, let's say about two and a half years ago, maybe. And we actually decided that it might be much more valuable for us to spend that time that we would invest into raising to just invest into growing the busin…”
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Gibby: The Bot Platform would reject a $6M cash buyout offer
“Definitely wouldn't be interested in a six million acquisition.”
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Gibby: The Bot Platform pricing ranges from $1,400 to over $20,000 monthly
“We have some customers that pay us 1400 dollars a month, all the way up to others that are paying upwards of 15, 20,000 a month.”
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Gibby: The Bot Platform generates under $2M annually with $110k MRR
“So our annual revenue is just under two million, and our MRR is 110, 110 K, and if you notice there's a difference between that, that's because as well as charging for license, we also have service revenue on top of that.”
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Gibby: The Bot Platform cash and receivables grew 81% year-over-year
“I mean, cash and receivables were up 81% year on year. Last month our invoicing is up 130% compared to last year.”