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Olivier Simonis is stepping down as Qualifio CEO at age 50
“In the company, there are really talented people that I think can do the job at the moment better than what I can. So I'm 50 now, and I think I have, yeah, also other projects that I want to pursue and let these talented guys run the company on a daily basis.”
Qualifio Generates About $25,000 in Average Annual Revenue Per Client
“Well, the average revenue per user for us, so per, per client is about 25,000 dollars per year.”
Simonis: Qualifio is approaching $7 million in ARR
“Yeah, we are slowly but surely reaching seven million US dollar in ARR, so indeed.”
Qualifio sets sales rep quota target at $3,000 new monthly MRR
“When we have quota-based sales guys, the average monthly MRR that we Ask them to bring in is around 3000 U.S. Dollars of new MRR. Of course, with a ramper period.”
Qualifio sales reps average a 50k fixed and 50k variable OTE
“The on target earnings is, is, is more or less. I mean, if I take a big approximation around 50, 50 and that would be like 50 K fixed and 50 K on target earnings.”
Simonis: Qualifio opened its stock option plan to all 90 employees
“Two years ago that, that we wanted to have an employee stock option plan, not limited to a few key people, but open to the whole company. So we have now about 90 people of the employees of the company that own warrants of the company and they can, they will be…”
Simonis: Outside investors own around 30% of Qualifio
“Yeah, we have one kind of friend and family, first our business angel and then the investor who joined us for the series A, They own around, around 30% of the company.”
Simonis: Qualifio growth is two-thirds new customers, one-third expansion
“It's, yeah, in, in terms of new, newbies, when I say we are growing the business it's about two-thirds is coming from newbies and one-third is coming from expansion of existing contracts.”
Simonis: Qualifio customer acquisition cost is around 15K with one-year payback
“Sorry, in terms of CAC yeah, we are spending around, around 15 K so we can say that, or after, after the first year, the new customer are completely yeah, profitable.”
Simonis: 99% of Qualifio clients are in continental Europe
“So 99% of our clients are in continental Europe.”
Simonis: Qualifio previously grew revenue around 50% annually
“We were, we used to be growing around 50% a year.”
Qualifio bootstrapped for six years before raising €3M Series A
“We used to be bootstrapped for about six years on our existence, and then we raised the Series A at the end of the year, at the end of the year, rather small, only three million euros with Belgian investors.”
Qualifio generated roughly $2M in revenue at 2017 Series A
“Ah, it was around 1.5 one million euros, about two million US dollars.”
Qualifio raised 2017 Series A at a 5x revenue multiple
“Well, it was a very standard times, times five valuation. I mean, we are, we kind of follow the we were valued at the standard SAS valuation metrics.”
Simonis: Qualifio is not proactively seeking a Series B or exit
“Our focus is really there at the moment, rather than looking at a series B or a potential exit. I mean, that, that might of course come later on, but we are really not proactively looking for that.”
Simonis: Qualifio's incoming CEO rose internally over seven years from sales rep
“The CEO who is going to, yeah, be the full CEO from next month has actually joined the company seven years ago. So he joined the company first as a sales guy in Belgium, and then he became kind of the country manager, a sales country manager in Belgium. Then h…”