Disclosure certainty 3/5 debate potential 1/5

Ultian expects to retain roughly 30% equity after closing $3M round

Chris Ultian · They Help Companies like Fan Duel Stay Compliant, Raising $3m on $150k of ARR · Sep 24, 2021 · at 12:53

Chris Ultian, founder of Compliable, breaks down cap table dilution following a $3 million late-seed financing round at a $12 million pre-money valuation.

0:00 / 0:04exact quote · 4.7s
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“I think I'll be at roughly 30%.”

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More from Chris Ultian

Prediction Not checkable as stated
Ultian: State licensing infrastructure market opportunity will close in eight months
“If we can get out there ahead of that change, if we can be the provider for the states themselves to be able to grant licenses, that puts us in a pretty unassailable position, and that opportunity will exist for the next six to eight months.”
Chris Ultian Sep 24, 2021 ▶ 11:23 They Help Companies like Fan Duel Stay Compliant, Raising $3m on $150k of ARR
Disclosure
Ultian took majority equity for funding early expenses and deferring salary
“When we started this way back when it was on an idea that I had brought in the initial capital and pretty much took no salary in order to make things work while we had a consulting gig that kept the doors open and the lights on, and was able to divert a lot of…”
Chris Ultian Sep 24, 2021 ▶ 6:50 They Help Companies like Fan Duel Stay Compliant, Raising $3m on $150k of ARR
Prediction Not checkable as stated
Ultian predicts US sports betting will consolidate to 50 to 60 operators
“There's going to be like 50, 60 players, total, 20, 30 of substantial size”
Chris Ultian Sep 24, 2021 ▶ 8:00 They Help Companies like Fan Duel Stay Compliant, Raising $3m on $150k of ARR
Disclosure
Compliable counts sports betting startup Sporttrade as a paying customer
“One of the operators sport trade is the startup in the space. And we're working with another major operator that we can't name publicly yet, but you know those are your sports books.”
Chris Ultian Sep 24, 2021 ▶ 1:55 They Help Companies like Fan Duel Stay Compliant, Raising $3m on $150k of ARR
Disclosure
Compliable charges major betting operators $5,000 to $10,000 monthly
“So a major operator would probably be around five to 10 K a month for the smaller groups. That's about a thousand a month.”
Chris Ultian Sep 24, 2021 ▶ 4:11 They Help Companies like Fan Duel Stay Compliant, Raising $3m on $150k of ARR
Disclosure
Compliable raised $1.7M post-pivot and nears a $3M round
“So last year on this pivot, after September, we raised 1.7. And we're actually very close to closing another three right now.”
Chris Ultian Sep 24, 2021 ▶ 5:21 They Help Companies like Fan Duel Stay Compliant, Raising $3m on $150k of ARR
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