Raising capital in 2008 would have caused Ceterus to fail
Levi Morehouse · EP 421: SaaS Accounting $238k MRR, $4.2M Raised, 200 Customers with Ceterus CEO Levi Morehouse · Sep 18, 2016 · at 6:26
Levi Morehouse reflects on why running a hands-on service business first was critical to understanding product-market fit before building SaaS.
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“If I would have raised money and tried it in 2008 or 2009, it would have been an epic failure because what I would have thought the customer needed Would not have fit the mark.”
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More from Levi Morehouse
Ceterus operates with net negative revenue churn and sub-1% logo churn
“So our churn is actually net negative, and it's on a, but on an actual unit basis, it's less than one percent, significantly less than one percent. So most customers have not left.”
Ceterus reached seven figures bootstrapped before pivoting to SaaS in 2015
“So we initially from 2008 through 2014, we were an outsource service business purely bootstrapped did not raise any capital as myself and built it to a nice business. You know, doing seven figures over, over seven figures and doing okay to really scale and gro…”
Ceterus generates approximately $13,000 in average revenue per user
“Yeah, it's around 13,000 right now. Annual, annual basis.”