The Ledger
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Broberg: Sand Hill VCs constantly dismiss older founders as irrelevant
“I run into that attitude from one hills all the time. And it's like, I don't have time for that attitude.”
Broberg: Modus customer lifetime value exceeds $120,000
“I can say safely that our lifetime value is north of a 120 K.”
Modus raised mid-single digit millions in Series A
“It was a simple Series A. It was, like, mid-single digits.”
Broberg: Modus has 80,000 registered users across 95 countries
“Internally, about 270,000 Slack messages, and about 80,000 overall registered users of our app worldwide. So we're in about 95 countries, and our app is in 25 different languages.”
Broberg: Caterpillar is Modus's largest client
“Yeah, we're selling enterprise deals, like Caterpillar's our largest client.”
Broberg: Modus is growing over 40% YoY at break-even EBITDA
“Well, we're north of 40% growth, and we're basically break even EBITDA.”
Broberg: Modus has under 10% annual logo churn
“Our logo churn on an annualized basis is less than 10%.”
Broberg: Modus plans to raise additional capital in 2018
“Well, we're going to raise more capital this year.”
Broberg: Modus charges $35 to $50 per user per month
“Well, per user, I mean, typically anywhere between 35 and 50 dollars per head per month. That's a basic.”
Modus operates with 24 total employees and 8 in sales
“We have 24 team members, including a rep in Copenhagen. We have a group of clients over there, and currently we have eight sales team members.”
Broberg: Modus easily sources tech talent through University of Minnesota internships
“We have no problems at all. Our offices you know, for in terms of hiring and finding good tech talent both back-end and front-end app developers we're right next to the University of Minnesota. Our office is right here, so we're on the light rail, and, well, w…”
Broberg: Modus has roughly 180 customers across SMB and enterprise
“We have about 180 existing customers. And it probably was pretty evenly split between SMB and enterprise.”