The Ledger
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Austin: Synapse has no direct competitors, only indirect incumbents
“We don't have a direct competitor still in the market right now. There's indirect incumbents.”
Austin: ExxonMobil funded Synapse software development as its first customer
“ExxonMobil. And they basically read about us in the newspaper after coming out of an accelerator and asked to see the software where we were like, well, we don't have software yet. Here's our plan. And it was a problem for them that, that they said, well, we'l…”
Austin: L&D Series A valuations range from $25M to $40M pre-money
“I've seen series A companies in our space as low as 25 pre money and all the way up to forty million pre money.”
Austin: Synapse CAC payback will drop to 5-6 months with PLG
“Yeah, we think that payback will be five to six months once we roll out the product-led growth strategy.”
Austin: Partner will onboard Synapse to 11,000 clients in two years
“Over the next two years, they're going to onboard us to 11,000 clients of theirs, which is exciting.”
Austin: Synapse will hit $2.5M ARR within a year
“We have not yet gone to series A, and when we do our plan is to start working with series A partners at around two and a half million ARR. So we're not quite there yet, but you know, we'll be there in about a year's time or less.”
Austin: Synapse will grow over 100% this year
“Yeah, I mean, we will have over a hundred percent growth this year.”
Austin: Synapse retains about 89% of clients annually
“We're retaining about 89% of clients right now.”
Austin: Synapse spent about $50k to launch its initial product
“We spent Probably about 50 grand to get the first kind of iteration out the door and started to monetize it”
Austin: Synapse directly serves about 60 enterprise customers
“We have about 60 on the platform 60 enterprises directly today.”