Assertion certainty 4/5 debate potential 1/5

Fulcher: Zenefits navigated its pivot with thousands of customers and ample cash

Jay Fulcher · 1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR · Jul 24, 2018 · at 2:34

Jay Fulcher describes the favorable customer base and cash reserves that enabled Zenefits to execute a strategic pivot after his arrival as CEO.

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“It's not often when you have thousands of customers and plenty of cash with which to be able to kind of affect this pivot and to go in this new direction.”

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More from Jay Fulcher

Assertion Not checkable as stated
Fulcher: Over 70% of Zenefits customers converted to paid SaaS
“The thing that was clearly a huge point of validation for me that I was excited about is more than 70% of our customers moved with us.”
Jay Fulcher Jul 24, 2018 ▶ 8:02 1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR
Assertion Not checkable as stated
Fulcher: Zenefits' SaaS business is growing 100% year over year
“The SaaS part of our business, separate from the insurance business, is right now growing a hundred percent year over year, and we expected to do the same this year.”
Jay Fulcher Jul 24, 2018 ▶ 12:48 1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR
Disclosure
Fulcher: Zenefits' three-year plan reaches profitability without raising outside capital
“I've got a three-year plan that doesn't require us to raise any additional capital, and that frankly gets us not only to break even, but to gets us to profitability well before that three-year period, and so we're excited about being more or less in control of…”
Jay Fulcher Jul 24, 2018 ▶ 17:08 1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR
Assertion Not checkable as stated
Fulcher: Zenefits' discarded insurance brokerage was approaching $100M in revenue
“That's a, you know, a business that was coming up on a hundred million dollars in revenue.”
Jay Fulcher Jul 24, 2018 ▶ 7:00 1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR
Assertion Not checkable as stated
Fulcher: Zenefits operates at roughly 65% gross margin
“We're sort of at the 65% gross margin place right now today.”
Jay Fulcher Jul 24, 2018 ▶ 8:46 1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR
Prediction Not checkable as stated
Fulcher: Zenefits is 12 to 24 months from 80%-plus gross margin
“So I do believe that we have some targets that get us into the 80% plus gross margin range. My view is I believe that we're sort of somewhere between 12 to 18 to potentially 24 months away from that.”
Jay Fulcher Jul 24, 2018 ▶ 8:58 1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR
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