Brendan Ciecko, founder and CEO of Cuseum, describes customer acquisition growth from initial pilots to present scale.
Insight
Ciecko: Century-old institutions require startups to have 2-3 year track records
“Realistically for a lot of these spaces, if you're selling to, let's say nonprofits or higher ed or organizations that have been around for a hundred plus years, They want to see that the company has been around for two, three years before they're willing to e…”
Disclosure
Ciecko: Cuseum raised about $1.5M from Techstars, Foundry Group, and Accomplice
“So we raised about one and a half million dollars. We're backed by Techstars, we're backed by Foundry Group and Accomplice.”
Assertion Not checkable as stated
Ciecko: Cuseum revenue is growing roughly 3x year-over-year
“So we've been doubling and tripling year over year. So it's going to depend on, you know, which year we've introduced a we've introduced a second product, which has definitely you know, aided our growth numbers. So we're doing maybe three X what we did last.”
Assertion Not checkable as stated
Ciecko: Cuseum Signs Multi-Year Contracts With Below-Average Churn
“These are larger con, you know you know, longer term contracts multi-year contracts. And once people have allocated budget to, you know, utilize one of the One of the products that we serve relatively low churn, lower than, you know, industry.”
Assertion Not checkable as stated
Ciecko: Cuseum Account Expansion Outpaces Revenue Lost to Churn
“We've also found opportunities to move you know, move customers to other offerings rather than full churn when, you know, when, you know, budgets are reduced or needs change. But yeah, our growth has more than, you know, accommodated any of that profit loss th…”
Assertion Not checkable as stated
Ciecko: Cuseum has been cash flow positive for about a year
“We've been cashflow positive for about a year.”