The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 30 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
SaaS customer success teams should not be incentivized on net retention
“One of my big areas of CEOs to think about the fact that you don't want to incent your post sales team on net retention. Let your sales team go sell the upsell. They're the sellers. You want a post sales team that gets up every day and just because my job is t…”
UserTesting's customer success team does no selling or upsells
“I have a chief customer officer who reports directly to me and they are solely responsible for making sure the customers are successful. They don't sell them anything. They don't upsell them anything.”
SaaS companies should focus on gross revenue retention over net retention
“So we're a company that believes net retention is really important to a SaaS company, but I'm a CEO that believes the focus of a SaaS company should be gross retention, not net, and that that's an even more upside.”
UserTesting raised a $100M round from Insight Partners
“We just raised a hundred million dollars from insight partners and have yet to announce that publicly, but pretty excited to have raised that.”
UserTesting expects to cross $100M ARR by mid-2020
“So we're going to cross a hundred million in ARR probably mid this year growing about 40%.”
UserTesting is acquiring Norway-based testing platform Teston
“One of the announcements we'll be making by the time this is live is we're acquiring a company called Teston, which is based in Norway. Allows you to test in a couple of different languages that we don't yet support on our platform.”
Human review time naturally caps unlimited SaaS video consumption models
“So for a lot of our customers, they actually have an unlimited consumption model. What they're paying for are seats, people who can get the insights, and because they actually have to invest the time to consume the insights, That actually helps protect us from…”
UserTesting's net revenue retention fluctuates between 115% and 117%
“Yeah, we go up and down between about a 115 and a 117.”
UserTesting's gross revenue retention rate is approximately 84%
“Yeah, we're at about 84% gross retention.”
UserTesting will spend $1.50 to $1.70 in CAC per new ARR dollar
“I'm willing to spend a dollar 50 to a dollar 70, but all that's based on this idea of having really high gross retention.”
UserTesting is generating between $60 million and $70 million in ARR
“Yeah, we're between 60 and seventy million in ARR.”
UserTesting has about 3,500 customers on annual SaaS subscriptions
“For the past five years, it's been entirely a subscription-based SaaS platform. About 35,000 people have ever tried the product or used it as a pay-as-you-go model. We have about 3500 SaaS customers that are paying us on an annual subscription basis.”
UserTesting's top enterprise accounts spend over $1M annually
“We're doing you know, supporting massive research teams and design teams at some of the largest tech companies in the world that might be spending, you know, over a million dollars a year with us.”
UserTesting is negotiating a single enterprise deal for over 10,000 seats
“I mean, we have a customer right now we're working with that's looking at doing, you know, over 10,000 seats with us because they want to see everyone in the company who builds or markets or designs the product, be able to have that direct interaction and see …”
UserTesting maintains an 86% gross revenue retention rate
“We're at about 86% right now retention, so call it 24 sorry, 14% gross churn.”
UserTesting Reaches 42 Edinburgh Staff and 10%+ International Revenue
“We're already at 42 people in Edinburgh, Scotland that's growing like crazy. Makes up more than 10% of our revenue now internationally.”
UserTesting burned $1M to $2M monthly prior to its Series D
“Yeah, absolutely. And that's probably right somewhere in that window is probably right about where we were.”
UserTesting's sales pipeline grew 75% year-over-year in 2019
“We saw massive pipeline growth last year. Our pipeline was up 75% year over year.”
UserTesting acquired AI video processing startup Truth Lab
“We acquired a company six months ago called Truth Lab, which is about doing AI video processing.”
UserTesting passed $10M in net new bookings in Q4 2019
“Did that in in Q four, and we'll probably do that again in Q one.”
UserTesting is 24 to 36 months away from considering an IPO
“I love the idea of being a public company at some point, but I don't think it's in the near term for us having just raised that round. I would think you know, we've got. 24, 36 months or something before we'll get real serious about thinking about that.”
Large enterprise customers spend $50K to hundreds of thousands annually
“A large company is typically spending anywhere from 50 to a couple hundred K on an annual basis to have their UX research team and their designers on our platform.”
Andy MacMillan: UserTesting has raised about $74 million in total funding
“I think we're at about 74 right now. It depends. If you look at crunch base, some of it was secondary, so it's always a little tough to map that in. But that's about what we've raised.”
UserTesting expanded a Fortune 50 customer from one to 28 departments
“In my first quarter, we had a large, you know, fortune, 50 company where, you know, we started off in one department, and we were in the process of doing a ULA with them to go across 28 departments that's just grown organically.”
UserTesting has 3,000 subscription customers and 35,000 total pay-as-you-go accounts
“It's 35,000 if you think of the long tail of the SMB space and the Page of Go customers, it's about 3000 in the subscription business. Which again, drives the bulk of our revenue.”
SurveyMonkey and Qualtrics are go-to-market partners for UserTesting
“Some of the companies you mentioned like SurveyMonkey or Qualtrics, they're great partners of ours. We spend a lot of time going to market with them.”