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Proposify Revenue Declined in 2022 For First Time Since Finding PMF
“Our rate of growth had been declining year after year, and when the SaaS market changed around twenty-twenty-two is when we actually started to decline for the first time really since we found product market fit”
Proposify Received Zero LOIs During 2022 M&A Process After Buyers Retracted
“The SaaS market kind of crashed in twenty-twenty-two. Investors and acquirers started getting nervous, and suddenly I had this, you know, what was this big list of potential acquirers all pull out, not get a single LOI from anyone.”
Proposify Increased Average ACV From $3K to Between $10K and $30K
“We went from, you know, being able to sell at most a 3000 dollar a year ACV contract, up to now where we have a couple in the six figure range, but average would be more 10, 20, 30 K deals.”
Proposify Was Nine Months From Insolvency in 2021 Before Pivoting
“Actually in twenty-twenty-one, I brought on a COO and CFO, Kathy who's, who's really amazing, and she kind of looked at what we were doing. We had this, you know, huge burn rate. She looked at the growth, and she's like, you're running off a cliff. Like, you'r…”
Proposify Laid Off 25% of Its Workforce in January 2022
“January 22 is when I had to cut a quarter of our staff and announce that”
Proposify Reached $58,000 in Profit in 2023 After Burning Millions
“And then in twenty-twenty-three we, you know, we went from burning millions to actually being profitable. Mind you, not by very much. About 58 K in profit.”
Racki: Proposify ended 2020 at $564k MRR with 20% growth
“So we ended the year at 564,000 in MRR USD. So we saw a 20% growth in, in 2020.”
Racki: Proposify's high-touch segment grew 98% in 2020 versus 7.2% self-serve
“So if you look at the AR and MRR from that high-tech group, that grew to 98% in twenty-twenty, whereas the self-serve segment grew about 7.2%.”
Racki: Proposify enterprise tier generates 20% of ARR with negative net churn
“That healthy segment Is it only makes up 20% of our total ARR, but it's actually two percent of our logos. So we're finding, yeah, it's I mean, the logo churn on it is under one percent a month. The net MRR churn is -2.3%. The LTV is 85 K.”
Proposify Stayed Under $1K MRR for 17 Months Before Product-Market Fit
“We were under one K MRR for quite a long time. How long? From about April 2013, we didn't really hit it until about September of 20 14, was when we started to see, you know, everything increase.”
Proposify Converts 200 to 300 Customers Monthly From Daily Trials
“When we look at how many people are signing up for trials, we're getting about between a hundred and a 150 new signups a day. We tend to close about two or 300 of those.”
Proposify Spends $10,000 Monthly on Paid Marketing While Prioritizing Organic Growth
“We only really spend, I mean, I say only, maybe that's a lot for some people, but we spend about 10,000 a month on, on paid marketing and put a lot more work into the organic stuff.”
Proposify Averages $1,000 LTV But Reaches $15,000 For High-Tier Accounts
“The lifetime value on average is about a thousand dollars and obviously that changes, you know, based on what tier you're on. So that's why we have salespeople following up with like the hundred dollar, 250 dollar a month plans because the lifetime value there…”
Proposify Maintains 2 Percent Net MRR Churn and 4.5 Percent Customer Churn
“Churn right now, I mean, net MRR churn is just about two percent. Customer churn is under five, so it's about 4.5%.”
Proposify Generated Approximately $551,000 in 2015 Revenue
“Last year's revenue was about 551,000 dollars.”