Justin McGill, founder and CEO of LeadFuze, discusses the company's SaaS customer retention and revenue metrics with Nathan Latka.
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LeadFuze CTO exited due to family strain and technical scaling limits
“So a couple of reasons, I think you know, certainly family issues we're a big part of that. You know, he was needing to be involved quite a bit on, on the product, obviously as a startup early stage, you're hustling. Right. And so when you have a wife and kids…”
Disclosure
McGill: LeadFuze does not plan to raise another funding round
“We don't plan on doing another round, you know, like this is going to be just basically a, it's a one shot deal. You know, we kind of have the business structured where we're not going to need to raise more.”
Disclosure
McGill bought out LeadFuze's departing CTO to recover equity
“So we, I bought him out essentially. So he's no longer, you know, he no longer has a stake.”
Disclosure
LeadFuze raised $150k from Rob Walling, David Hauser, and Adam Gustafson
“We just recently raised some money, like a small round, a 150,000. We may end up adding another a 100,000 or so, but we raised a 150,000. We've got some awesome investors like Rob Walling of drip, who I know you've talked about their product. They just recentl…”
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LeadFuze avoids paid ads, estimating a $300 CAC via founder salaries
“We're not doing any paid advertising, right? So I guess to Calculate our CAC here. We're kind of looking at more our salaries to be honest. So between Damien and myself kind of on the sales and marketing side, what was like where we spend time? Like I'm obviou…”
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LeadFuze converts 11% of visitors to trial and 8.5% to paid
“And so, you know, right now from website, like new website visitor to free trial, we're at about like 11%. And then from free trial to paid, it's about eight and a half percent on that conversion.”