The Ledger
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Reveleer CEO Pledged His House as Collateral to Make 2018 Payroll
“In 2018, I put that house up as collateral. When we couldn't make payroll, and we went for, ah, ah, debt financing, just to bridge us.”
Ackerman: Reveleer raised $65M in debt from Hercules Capital
“So we did a sixty-five million dollar debt raise with a company on the bottom, Hercules Capital.”
Reveleer Had Existing Commercial Partnerships With Both Acquisition Targets
“And by the way, on the acquisition front, both of them were companies we had established partnerships with. So we understood one another. We knew how our products were going to work together.”
Reveleer Secured a $65M Pure Debt Facility to Fund M&A
“No, actually it was debt. We it was all debt. We now that our business is generating cash and we have really good understanding of the unit economics of our business we wanted to raise a debt facility to support M&A. And so Hercules is, we actually had a great…”
Reveleer averages $275K in SaaS revenue across 30 health plan customers
“Today we have about 30 customers and on average, we earn about 375,000 dollars per plan that we cover and services revenue and about 275,000 in SAS revenue.”
Reveleer's fully loaded CAC is 20% to 25% of first-year ACV
“I would say our fully loaded customer acquisition costs with all of sales, all of marketing commissions in there... Trade shows, about 20, 25%... Of first year ACV.”
Reveleer is currently raising close to $10M in fresh capital
“So it's still a little bit in flux, but we're expecting to raise close to ten million dollars.”
Reveleer is targeting a $50M pre-money valuation for its current round
“Yeah, I think that's you know, that's close.”
Reveleer uses a venture debt term loan and accounts receivable line
“We do have venture debt. We have A term loan, and we're also we will have an AR line going forward to support the cash flow needs of the business.”
Reveleer plans to finance upcoming acquisitions partially through new debt
“We are looking at some acquisition opportunities and would like to finance that in part with debt.”
Reveleer prices by per-patient 'chase' rather than broad enterprise licenses
“We have a couple of different pricing arrangements. Some are, What I would consider kind of typical enterprise agreements where they can use it as much as they want, as broadly as they want, but our typical pricing model is based on what we call a chase, which…”