Assertion certainty 4/5 debate potential 1/5

Brightpearl reaches $18M ARR with over 850 customers

Derek O'Carroll · Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY · Feb 25, 2021 · at 2:12

Brightpearl CEO Derek O'Carroll updates host Nathan Latka on the company's financial turnaround and current scale.

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“We're at eighteen million dollars in our, we're at just over 850 customers, but I'll explain why we've got less customers now.”

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More from Derek O'Carroll

Insight
Low-margin professional services prevent fatal pre-live SaaS churn
“If you don't get professional services right, you see pre-live churn spike, which obviously impacts your universal churn. And then post-live churn, you want to drive down below 10% and get to sort of four percent and be super sticky. And that's why professiona…”
Derek O'Carroll Feb 25, 2021 ▶ 4:37 Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY
Insight
Hard sales quotas for CS incentivize short-term decisions that harm LTV
“And then they make decisions for the short term and it does not, not good outcome for lifetime value.”
Derek O'Carroll Feb 25, 2021 ▶ 11:54 Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY
Disclosure
Brightpearl's fully loaded cost per AE is approximately $580,000
“When you look at the fully loaded cost of each AE, we're running at about five 80, you know, when you take in count your BDO or your cost of pipeline, and you look at all of the people that you need to feed a new AE, because we run a territory model.”
Derek O'Carroll Feb 25, 2021 ▶ 12:46 Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY
Disclosure
CEO Derek O'Carroll required a down round to reset Brightpearl's valuation
“When I came in the terms of me joining and what we agreed with the board was we would do a down round and we would level set the business based on a true valuation that we thought was more in keeping with the fact that it had high churn and that's not viable.”
Derek O'Carroll Feb 4, 2019 ▶ 8:05 1290 How New CEO Rightsized Brightpearl, passed $12m in ARR
Assertion Not checkable as stated
Brightpearl deploys in 110 days versus over a year for legacy ERPs
“Customers go live we're clipping along at about a 110 days in the last 12 months, in the last 12 month period, and that's calendar days. So that's from when you sign to when you go live. Which in comparison to the sort of legacy ERP systems like SAP or NetSuit…”
Derek O'Carroll Feb 25, 2021 ▶ 3:51 Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY
Prediction Not checkable as stated
Brightpearl targets $25M ARR by adding $7.2M net ARR in 2021
“We've got twenty five million of R to get to in terms of total R. So I've got to add 7.2 million of net R at the end of the year, by the end of this year, of which 2.2 million will come from expansion.”
Derek O'Carroll Feb 25, 2021 ▶ 9:02 Brightpearl $33m Raised, $105m Valuation, $18m Revenue, Targeting $25m by EOY
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