The Ledger
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Shada: OnBoard is past $30M run rate, targeting up to $37M
“That is accurate.
And, you know, ending the year you know, of course with a few big months, end of the year accurately, you know, we could get to numbers that are higher than, you know, closer towards 35, 37.”
Shada: He bought out all early partners to own 100% of OnBoard
“And eventually there came a time when there was no cap table. There was just a single cell. I owned all of it.”
Chadha: OnBoard used debt to bootstrap to $15M ARR
“First actually really took on debt. To continue to bootstrap till we got to fifteen million dollars in ARR.”
Chadha: Ensemble generated $2M-$3M annually to fund OnBoard's growth
“Meanwhile, we continued down the path of taking the original product ensemble and making it into a cash cow, which funded the business two, three million dollars every year. That money was plowed back into growing the onboard business.”
Chadha: OnBoard's first customer provided the loan for his co-founder buyout
“In my case, my first customer was also somebody who gave us infrastructure. We used their office. They also advised a lot on operations side. How do you get compliance certifications and such? And eventually they became my date partner. When I talked about buy…”
Chadha: OnBoard raised $5M primary plus secondary in first institutional round
“So the first check was actually only five million dollars on the balance sheet. I did take some you know, secondary off just to really kind of just ease the pain.”
Shada: OnBoard sold Ensemble for an eight-figure sum
“No, I think we sold in November. I was a good time. Actually, it was actually, it was certainly, you know you know, it was eight figures. It was actually a good transaction.”
Shada: Ensemble generated under $10M ARR prior to sale
“Ensemble had you know, I don't know if I'm you know, if I should disclose the revenue, but it was actually, the range was less than ten million.”
Shada: Ensemble made up roughly 25% of OnBoard's revenue
“Ensemble was, you know, about, I would say, 25, 25% of our revenue, and when we swapped out Ensemble for Eastcry, we are actually, you know, further ahead.”
Shada: OnBoard's $100M round combined primary capital and secondary liquidity
“It was not a hundred million secondary. It was actually primary and secondary combined. It was actually a hundred million dollar round.
Some of that capital was used for this acquisition.
Some of that capital was secondary.
Some of that capital actually wen…”
Passageways Wins 25% to 30% of Qualified Sales Opportunities
“We win about, you know, 25, 30% of our, you know, opportunities.”
Passageways Holds $5 Million on Its Balance Sheet Post-Raise
“At this point, we are, you know, we have about five mil on the balance sheet.”
OnBoard Drives Two-Thirds of Passageways' Total Annual Revenue
“Two thirds of the product of the revenue at this point is you know, projected to be board product by the end of the year. And one third is going to be an employee collaboration product.”
Financial Services Customers Generate 50% of Passageways' Total Revenue
“About 50% of my business is coming from the financial services industry.”
Passageways Drives Two-Thirds of Acquisition Through Inbound Channels
“So most of it is, you know about two thirds of it is inbound and one third is outbound.”