Matt Straz, founder and CEO of HR and payroll SaaS platform Namely, discusses company scale and why customers demand stability from payroll providers.
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“And I think we're today processing seven billion dollars of payroll when people hand you one of their, yes.”
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More from Matt Straz
Insight
Founders shouldn't set pricing because they are too hypercritical of their products
“I think the number one advice I can give is don't let your founder set your pricing. We tend to be terrible at pricing because we always are hypercritical of our own product and don't aren't always aware of how bad the competitors products can be, or at least …”
Matt StrazMar 22, 2018▶ 6:34971 How Namely Passed 1000 Customers and $40m in ARR
Opinion
The mid-market is the last white space in HR and payroll software
“Well, I think it's probably the last remaining white space left in the HR payroll benefit space.”
Matt StrazMar 22, 2018▶ 8:14971 How Namely Passed 1000 Customers and $40m in ARR
Insight
Core HR and payroll breed multi-billion dollar companies
“Multi-billion dollar companies tend to be created in the core payroll and benefit space because those are the number one and two things that That businesses spend money on.”
Matt StrazMar 22, 2018▶ 5:19971 How Namely Passed 1000 Customers and $40m in ARR
Insight
HR software companies must choose their target market size early
“I think you have to do that in this space. The product needs are very different for a small, medium and large business. So you've got to decide really early on what swim lane you're going to get going to be in.”
Matt StrazMar 22, 2018▶ 7:45971 How Namely Passed 1000 Customers and $40m in ARR
Disclosure
Namely prioritizes expanding within the mid-market over moving upmarket
“Every year at the end of every year, I asked myself and our team, do we want to go up market or do we want to sell more things to the same, same customer? And we always decided on the latter because we're just so passionate about midsize companies.”
Matt StrazMar 22, 2018▶ 8:30971 How Namely Passed 1000 Customers and $40m in ARR
AssertionSupported
Namely surpassed $40M in ARR by early 2018
“Yeah, it's above that. It's above.”
Matt StrazMar 22, 2018▶ 10:11971 How Namely Passed 1000 Customers and $40m in ARR
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