The Ledger
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Flowhub Teams Sometimes Consume Cannabis for 5 PM Brainstorms
“And you know, as a team, sometimes we do you know, we'll, we'll responsibly consume as a group and we'll you know, certain departments will sit down and talk and brainstorm things at five o'clock. It's kind of our version of the bar cart, but you know, no, dur…”
Sherman: Flowhub average ACV is around $8,000, reaching up to $45,000
“Our ACV year is around 8000 dollars today. Some go as high as 45,000 dollars.”
Sherman: Flowhub partnered with HP for all-in-one dispensary hardware systems
“We partnered with HP earlier this year to provide an all in one solution. So these systems ship from HP over to our customers with our platform installed on it.”
Flowhub reaches just under 500 customer dispensaries
“We're over probably about just under 500 at this point.”
Flowhub Generates Approximately $300,000 in Monthly Recurring Revenue
“Yeah, we're right around 300 K.”
Sherman: Flowhub maintains 98% annual customer logo retention
“We're retaining about 98% of our customers year and year.”
Sherman: Flowhub's net revenue retention is around 100%
“We're right. Yes. We're right around a hundred percent.”
Sherman: Flowhub customer LTV is roughly $44,000 over five years
“So LTV is five years, about 44,000 dollars.”
Flowhub's seed round was led by Poseidon Asset Management
“Early on, our seed round was led by a group called Poseidon out of San Francisco.”
Flowhub operates exclusively in the US across 10 states
“All US based. So we're in 10 states today.”
Flowhub had a $1.6M ARR run rate in August 2017
“August 2017, we were at about one point Six million dollar run rate, I want to say.”
Flowhub Generated a $180,000 Revenue Run Rate in 2016
“In the year before that we were doing a 180 K.”
Sherman: Most Flowhub customer churn is due to store shutdowns
“A lot, the majority is truly because they shut down though.”
Flowhub Only Started Building a Dedicated Sales Organization in 2019
“We just started building our sales organization this year, if you can believe it.”