Cornish: Moth & Flame has insider bridge rolling into spring Series A
Kevin Cornish · VR Builder SaaS Hits $5m Revenue, Targeting $10m Series A Now · Feb 2, 2022 · at 7:25
Kevin Cornish, founder and CEO of VR training platform Moth & Flame, discusses his capitalization and fundraising timeline with Nathan Latka.
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“And then right now we are, we have a bridge that's open mostly for insiders that's going to roll into a series A that we'll do in the spring.”
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More from Kevin Cornish
Cornish: Moth & Flame hit $5M revenue this year, $2M recurring
“This year, we did five in revenue, two million was recurring.”
Cornish: Moth & Flame recurring revenue will reach ~70% next year
“And next year we see that number getting up probably towards 70% of it being recurring.”
Cornish: VR adoption is limited by content, solved by off-the-shelf pricing
“The challenge with virtual reality is there's not a lot of content out there. So off the shelf content means they only need to pay for their usage, which means they don't need to have huge upfront startup costs.”
Moth & Flame charges $4,500 to $8,500 monthly for enterprise VR
“Pricing is based on TAM. So we got kind of two categories. One is on a per experience base basis. So these are for things where the TAM is smaller, smaller user base. So that's at a 4565 hundred, or 8500 a month, depending on kind of the different, different f…”