Assertion certainty 4/5 debate potential 1/5

Weirich: RealLink reaches 500k units across 1,400 US and UK properties

Matt Weirich · Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner · May 12, 2021 · at 6:06

Matt Weirich, co-founder and CEO of RealLink, discusses the company's platform scale across multifamily properties with Nathan Latka.

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“So we're actually pushing in 500,000 units now on the platform, which is great. So rolling that up on a property level, we're around 1400 individual properties using a platform between the U S and the UK.”

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More from Matt Weirich

Disclosure
RealLink raised $16M at a $22M valuation from Susquehanna Growth Equity
“About 16 out of 22.”
Matt Weirich May 12, 2021 ▶ 21:19 Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Insight
Weirich: Usage-based pricing led customers to minimize platform usage
“Early on when we launched our company, we actually charged based on usage. And what we found very quickly was that the only result that drove was teams trying to minimize their usage.”
Matt Weirich May 12, 2021 ▶ 5:20 Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Insight
Selling B2B real estate tech agent-by-agent is a failed GTM strategy
“We realized very quickly that was not a B to B go to market strategy. Brokerages did not want to pay for technology for their agents. And so we had to sell agent by agent by agent. And it just was not an easy or feasible go to market strategy for a startup.”
Matt Weirich May 12, 2021 ▶ 9:55 Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Disclosure
RealLink sales reps carry a $600K quarterly ARR quota
“And so we've really settled of a goal quota of Around a 180 properties per quarter, give or take... So if they're adding a 180 properties, rough, Matt, we could expect them to do about 600,000 ARR.”
Matt Weirich May 12, 2021 ▶ 18:35 Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Disclosure
Secondary liquidity comprised two-thirds of RealLink's recent funding transaction
“So out of the twenty two million valuation, secondary was probably call it two thirds.”
Matt Weirich May 12, 2021 ▶ 21:01 Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
Assertion Not checkable as stated
Weirich: $22M Valuation Was the High End in October 2020
“The, that was actually the high end of the valuations that we were getting in the thick of it, obviously. So we did that round. We closed it in October of last year. And so we weren't at 4.5 yet at that point.”
Matt Weirich May 12, 2021 ▶ 22:29 Virtual Leasing Tour SaaS Hits $5m Revenue, Sells 60% at $34m Valuation Bringing on New Strategic Partner
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