The Ledger
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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.”
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.”
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.”
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.”
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.”
Weirich: RealLink grew from $1M to roughly $4.5M ARR in 2020
“So we actually hit one million ARR in January of twenty-twenty. Which was a huge milestone for us. And then we ended the year at 4.5 ish, give or take.”
RealLink: Average property pricing is around $325 per month
“So the average price point for Relink is right around that three 25 per month. And that's unlimited live video tours, pre-recorded video tours, cloud storage, integrations, all of that.”
Weirich: RealLink annual gross revenue churn is under 10%
“So very low. Thankfully we're at less than 10% annual.”
Expansion accounts for 75% to 80% of RealLink sales
“The land and expand, the farming and that growth for us has typically made up about 75 to 80% of our sales.”
Weirich: RealLink reaches 500k units across 1,400 US and UK properties
“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.”
Weirich: RealLink has approximately 150 enterprise clients
“When you roll that up to our enterprise clients, we have about a 150 enterprise clients.”
Weirich: RealLink Raised $330k Friends & Family in 2013, $1.1M Seed in 2016
“So we did a friends and family round of funding End of 20 13, I believe it was we raised a 130,000. So very small. One 30. 330. So we made that stretch much longer than it should have. And we didn't do a formal seed round of funding until 2016 when we did a 1.…”
Weirich: RealLink was founded from consumer frustration, not real estate experience
“I actually don't have a formal background in real estate or anything like that. It was more of the consumer pain point that drove me to start the business. I was moving from Purdue university up to Chicago, about a two to three hour drive, not terribly far, bu…”