Disclosure certainty 4/5 debate potential 1/5

Sullivan: Mapware operates with a 25-person team

Joel Sullivan · 3 Customers and $3m ARR, How this Drone Mapping Startup Landed Enterprise Deals · Feb 13, 2023 · at 12:04

Joel Sullivan reports Mapware's full-time headcount in early 2023 to host Nathan Latka.

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“We're at 25.”

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More from Joel Sullivan

Assertion Supported
Sullivan: The US commercial drone market is mostly single owner-operators
“What we've seen within the US drone marketplace is that it's mostly single owner operators. So it's typically one guy buying one license.”
Joel Sullivan Feb 13, 2023 ▶ 5:34 3 Customers and $3m ARR, How this Drone Mapping Startup Landed Enterprise Deals
Disclosure
Mapware lands orders of hundreds to a thousand government seats
“We're seeing that, you know, with, within the government agencies, we're getting like thousand user orders or like several hundred users at a time which has been great.”
Joel Sullivan Feb 13, 2023 ▶ 5:50 3 Customers and $3m ARR, How this Drone Mapping Startup Landed Enterprise Deals
Disclosure
Mapware pivoted focus to government contracts over commercial clients
“We basically this year made a decision to almost ignore the commercial market in order to satisfy the government market.”
Joel Sullivan Feb 13, 2023 ▶ 10:56 3 Customers and $3m ARR, How this Drone Mapping Startup Landed Enterprise Deals
Prediction Not checkable as stated
Sullivan: Mapware is targeting a $9M run rate by end of 2023
“Revenue. Yep. So we're trying to keep headcount still really, really lean. But you know, we're talking about putting a target up there of nine million.”
Joel Sullivan Feb 13, 2023 ▶ 15:09 3 Customers and $3m ARR, How this Drone Mapping Startup Landed Enterprise Deals
Insight
Selling data signals to hedge funds restricts the market to one customer
“Because if you actually develop a truly unique signal, they're going to be super greedy and gobble that up, right? So your market is basically one hedge fund. And then if you sell to all the hedge funds, then there's no strategic advantage to the hedge funds. …”
Joel Sullivan Feb 13, 2023 ▶ 18:48 3 Customers and $3m ARR, How this Drone Mapping Startup Landed Enterprise Deals
Assertion Not checkable as stated
Sullivan: Mapware's largest customers are US Air Force and Army Corps
“It does have military applications and actually our largest customers tend to be the U.S. U.S. Air Force and Army Corps of Engineers.”
Joel Sullivan Feb 13, 2023 ▶ 2:57 3 Customers and $3m ARR, How this Drone Mapping Startup Landed Enterprise Deals
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