The Ledger
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Chadha: OnBoard closed its fundraising cycle in 1.5 weeks
“For me, ah, the fundraising cycle was a very short one. It was just a week and a half.”
Shada: eScribe was doing $5M to $10M in revenue at acquisition
“Yeah, I know. I would say, you know, just short of that, but yeah, that was sort of the revenue range. You know, they were in the five to ten million range, but I don't know the exact specific number this time, but yeah.”
Shada: OnBoard was bootstrapped and profitable for 15 years
“Completely bootstrapped. Ran a profit for, believe it or not, 15 years.”
Passageways Closes 40% of Its Annual Business in November and December
“Believe it or not, between now and the end of the year, I'm gonna do 40% of the year's business.”
Chadha: OnBoard is currently growing revenue at a 50 percent rate
“At this time, you know, we are growing, you know, 50%, and we are actually really fast growing.”
Shada: OnBoard adds 80 to 100 new customers monthly
“And we are adding about, you know I'd say about 80 to a hundred customers a month. That's the clip that we are operating at.”
Shada: eScribe's pre-acquisition ACV was around $20K to $25K
“They are actually higher. So if you think of a city council, there's often, you know, a much bigger number of people involved, some more subscribers their you know, average contract you know, pre-transaction was right around 20, 25.”
Shada: OnBoard targets close to 50% growth rate for the year
“So we'll, we'll actually really end
you know, close to 50% growth rate for the year.
If the rest of the plan year checks out”
The US Supreme Court Uses Passageways for Its Board Management
“Now we have some of the largest customers in the world using our product, including some, you know very amazing non-profits Supreme Court in our country is using our product, some of the Fortune, 500 companies some of the biggest banks and hospitals using our …”
Passageways Serves Over 1,000 Active Board Management Customers
“We're talking about more than a thousand customers at this point.”
Passageways Increased OnBoard ARR by 65% to 70% This Year
“We did grow 65, 70% this year. That's the ARR growth that we saw.”
Passageways Maintains 3% Churn and 108% to 109% Net Retention
“Our churns you know, about three percent. Our dollar retention rate is, you know at this point, I think we are ending the year at about a 108 109%.”
Passageways Operates With a 12-Month Payback Period on CAC
“We, you know, at this point you know, we're spending about a dollar to get you know, about a dollar in ARR.”
Shada: eScribe Was Largely Bootstrapped Prior to Acquisition
“Oh, it was actually really some angels, but it was bootstrapped. Yeah, largely bootstrapped.”
OnBoard Charges Between $5,000 and $60,000 Annually for Board Management
“You could get started for about 5000 dollars a year. It's per user but our larger customers about 50, 60,000 dollars a year.”
OnBoard Averages $7,000 to $8,000 in Annual Contract Value
“The ACB is right around seven, 8000 dollars.”