The Ledger
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Rapid Funnel rejects employee tracking software, managing strictly by outcomes
“The truth is, in my estimation, putting your thumb on them doesn't do any good, because you can't see them. They're not in an office, and people are like, do you have all this tracking software? Do you know how many hours they're on their computer a day? I'm l…”
Rapid Funnel employs 70 remote staff on just over $3M in revenue
“Our team is 70 people in nine countries, which, yes, is probably a lot of people at just over three million in revenue now but I'll share a little bit of that, but 70 people and completely remote.”
Self-directed quarterly goals help managers identify top-performing remote employees
“I have to remind the executive team all the time, like, don't get fixated on being control freaks over their rock. Part of it is you're figuring out who the superstars are on the team. You're figuring who rises up and takes some ownership and Executed on the t…”
Rapid Funnel secured $1M from existing investors without giving up equity
“And I made a really compelling argument, put a whole slide deck together, and they literally gave us a million dollars. It's sitting in the bank, and we're using it to obviously to grow the company, which is cool, and I think it has a lot to do with the cultur…”
Onboarding a small business takes as much effort as a 5,000-seat enterprise
“It takes us almost as much work to unload a Upload or onboard a small business owner as it does a company with 5000 users.”
Rapid Funnel hit $2.9M revenue last year, targeting over $4M
“I just went to last year's revenues, which was 2.9 million. Our goal this year is just over four million, and we're just a little bit behind that target.”
Rapid Funnel maintains roughly 3% annual employee turnover
“Last year, we had three percent turnover total, and about the same the year before.”
Rapid Funnel's largest client has 16,000 users paying a few dollars each
“So, so our largest is about 16,000 users, you know, and they're paying a few dollars a user, right?”
Rapid Funnel is self-funding after raising just $300,000 in pure equity
“No, that was pure, just equity. No payback, nothing else. And they've offered a lot more. Now we've had a lot more offers since then, but now we're self-funding and it's going great. We're dealing with large enterprise level companies.”
Rapid Funnel has reached 50,000 downloads and 20,000 paying subscriber seats
“Individual users is about 50,000 downloads, and paying subscribers is twenty-some thousand, something like that.”
Rapid Funnel is approaching $1 million in annual recurring revenue
“We're just shy of a million dollars in, in annual revenue right now.”
Rapid Funnel was in development for nearly three years before selling
“We started selling about seven months ago, and we've been in existence almost three years.”