The Ledger
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Harris: Glassdoor relies on former employees while Quantum surveys current staff
“They're capturing data mostly from external or from former employees as opposed to internal employees. So our surveys are authorized by the companies and actually used for development purposes inside the companies.”
Harris: Venture playbook might have scaled Quantum in 5 years instead of 14
“It took us 14 years to get where maybe it would have taken us five had we done it, the had used used the East Coast or the West Coast playbook.”
Harris: Quantum Workplace churn is driven by executive changes, not competitors
“If we churn a client, it's not because they're leaving us for a competitor, it's because they, There was a CEO change, or there was a chief human resource officer change”
Harris: Quantum Workplace's ACV is $25,000 to $30,000
“Average contract value is probably 25 or 30,000 dollars, but that's really just taking a dart and throwing it at a scatterplot of a large data set of clients.”
Harris: Quantum Workplace has never raised professional capital
“We've never raised professional money. We we're a Midwestern company. We bootstrapped all the way.”
Harris: Quantum Workplace serves 2,200 paying customers across two segments
“We'll collect 2200 checks from customers. We kind of divide those into two buckets. We have a transactional kind of a freemium to upgrade model, which is probably 1500 of those customers, and then we have about 600 or 700 direct one-to-one, more mid-market to …”
Harris: Quantum Workplace on track for $10M total revenue in 2017
“We'll do 10 this year. Ten million for the total year.”
Harris: Quantum Workplace reached $7.2M in 2016 with 25% 10-year CAGR
“Last year, we did seven two, so we're gonna do mid-thirties. Our, if we look back, that's a good year for us. If we look back for the last 10 years, CAGR is 25%.”
Harris: Quantum Workplace sees about 5% annual gross logo churn
“That's right at five percent, yeah.”
Quantum Workplace acquires free data via local business journal partnerships
“We do best places to work programs all over the country, so we partner with weekly business journals in D.C., in the Bay Area, in Boston, Atlanta, and Dallas, 45 total markets, where we will capture data for free.”
Quantum Workplace spends $50,000 to $60,000 monthly on paid acquisition
“We'll spend, let me break it out by month, it's probably less than, probably between 50 and 60,000 dollars.”