LMS365 scaled from $18M to $30M ARR during 2023
Rasmus Holst · This Danish CEO Hit $30m ARR using Unique 14 Hub Model Selling Software for Microsoft Ecosystem · Apr 16, 2024 · at 8:03
Rasmus Holst is the CEO of LMS365, an enterprise learning platform. He breaks down the company's annual recurring revenue trajectory for 2023.
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“We hit eighteen million in, in 20, 20 early 20, 23, and we came out of last year with about thirty million.”
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More from Rasmus Holst
Nordic founders prioritize longevity over US-style growth sprints
“Often we are a little bit timid. There's a little bit of a glass ceiling in, in the Nordics. We're super good at longevity building businesses, but the burst and the window of opportunity that, that Americans see and that they cherish. And hey, I have the oppo…”
Business failure carries a lasting stigma in Europe unlike the US
“Failure in the U.S. Is a different kind of beast. If you're taking off the football team as wide receiver and you have to go to junior varsity and try to come back to varsity, you're celebrated more if you make it back to varsity because you endure it, you fou…”
LMS365 rejected $50M term sheets with heavy secondary share sales
“We turned down a number of fifty million dollar term sheets with a lot of secondaries in there, but then it was like, hey, we don't want that valuation.”
LMS365 outpaced publicly traded competitors like Cornerstone in 2023
“And if you look at our publicly traded competitors, like it to chamber or cornerstone, we certainly outgrew them.”
13 of LMS365's 14 sales hubs hit quota last year
“Our quota philosophy is attainable, so that's probably more Nordic than it is American and that meant that we run 14 hubs, which is essentially SDRs and business managers as a hub, and of the 14 hubs that we run 13 of them made quota or above last year.”