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 17 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
Centage derives roughly one third of revenue from onboarding and training
“About a third of our revenue.”
Clapp: Centage spent $3M-$4M rewriting its on-prem software into SaaS
“And it was an on-prem model until last year. And we converted the product, we invested it on a few, three or four million dollars, and rewrote the entire product. To be a cloud-based, you know, a hundred percent SaaS-based product.”
Centage raised $13.5M total, primarily utilizing $9.5M for recapitalization
“No, 13 and a half million, we raised originally nine and a half million, and a lot of that went to recapitalize the company actually.”
Clapp: Centage's ACV is $35,000 to $40,000 per year
“The average customer is about 35, 40,000 per year.”
Clapp: Centage has around 1,000 customers and 10,000 users
“So we've got about a thousand customers probably 10,000 users, because each customer has an average of 10 or so users.”
Clapp: Centage customer base is 30% subscription and 70% on-prem
“So I would say it's probably about 30% subscription and 70% on-prem.”
Centage SaaS pricing is 5x legacy on-premise annual maintenance fees
“If you were to approach us today and want to buy Budget Maestro Nine, our new product, you would pay something much more, maybe five times as much as a current customer is paying for their annual maintenance and support.”
Centage generated approximately $12 million in revenue in 2016
“We were at about twelve million last year.”
Centage targets approximately $17 million in revenue for 2017
“We're looking to be about seventeen million.”
Barry Clapp: Centage will reach 90% retention with SaaS model
“So our retention rates have risen from 75% a few years ago to over 80% now, and when we go to the SAS model, we know we can get them to 90%, you know.”
Centage CEO: Upselling consistently generates 10% to 20% of revenue
“We've always done about
10 to 20% of our revenue in upselling.”
Clapp: 70% to 80% of organizations use Excel for budgeting
“So, 80%, 70 or 80%, depending on who you listen to, of people use Excel for their budgeting.”
Centage is being tracked by KKR and Accel for future investment
“We've been talking then mostly to New York based and California based ones. So we've talked to everybody, KKR and just everybody. We went to this You know, forum where we presented to all the top players and Excel and everybody else. And so they're all trackin…”
Clapp: Centage's typical buyer is a 40-60 year old CFO of a $200M company
“Our customer happens to be usually a 40 to 60 year old man, you know, he's the CFO of a
Two hundred million dollar company.”