Ryan Austin is the co-founder and CEO of Synapse, responding to Nathan Latka regarding total capital raised.
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“About four million dollars.”
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More from Ryan Austin
AssertionNot checkable as stated
Austin: Synapse has no direct competitors, only indirect incumbents
“We don't have a direct competitor still in the market right now. There's indirect incumbents.”
Ryan AustinOct 18, 2020▶ 2:48Synapse Breaking $1m Revenue, Using $500k Debt To Scale Productivity Tool
AssertionNot checkable as stated
Austin: ExxonMobil funded Synapse software development as its first customer
“ExxonMobil. And they basically read about us in the newspaper after coming out of an accelerator and asked to see the software where we were like, well, we don't have software yet. Here's our plan. And it was a problem for them that, that they said, well, we'l…”
Ryan AustinOct 18, 2020▶ 5:23Synapse Breaking $1m Revenue, Using $500k Debt To Scale Productivity Tool
Disclosure
Austin: Synapse secured Comerica venture debt to take 30% debt in Series A
“So we brought on some venture debt through Comerica Bank. And it was mainly to really build the relationship early so that when we do our Series A, we can take about 30% of venture debt on top of that next round.”
Ryan AustinOct 18, 2020▶ 11:38Synapse Breaking $1m Revenue, Using $500k Debt To Scale Productivity Tool
AssertionNot checkable as stated
Austin: L&D Series A valuations range from $25M to $40M pre-money
“I've seen series A companies in our space as low as 25 pre money and all the way up to forty million pre money.”
Ryan AustinOct 18, 2020▶ 16:03Synapse Breaking $1m Revenue, Using $500k Debt To Scale Productivity Tool
PredictionNot checkable as stated
Austin: Synapse CAC payback will drop to 5-6 months with PLG
“Yeah, we think that payback will be five to six months once we roll out the product-led growth strategy.”
Ryan AustinOct 18, 2020▶ 18:27Synapse Breaking $1m Revenue, Using $500k Debt To Scale Productivity Tool
PredictionNot checkable as stated
Austin: Partner will onboard Synapse to 11,000 clients in two years
“Over the next two years, they're going to onboard us to 11,000 clients of theirs, which is exciting.”
Ryan AustinOct 18, 2020▶ 4:21Synapse Breaking $1m Revenue, Using $500k Debt To Scale Productivity Tool
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