The Ledger
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German ESOP norms typically force founders to absorb all initial dilution
“So we made one with 15% of the original cap table at the beginning, which is again, which we also found and which we're changing now is that for some reason, it's very typical in Germany that you set it up that the original visa goes only towards the founder p…”
Sastrify saves enterprise clients 3x to 4x ACV within weeks
“Typically like within like the first couple of couple of weeks, actually we saved them like three, four times of that.”
Founders should avoid launching fundraising rounds in July
“And one thing that we also did, which was not smart was we raced in July which I cannot recommend to every anyone because apparently people love to do holidays in August.”
Competitor Vendr raised its early 2021 round at a 100x ARR multiple
“Well, it's from what I know, it's about a hundred X on the AR. So I guess that's quite the, quite what we see everywhere at the moment. So I'm not that surprised. And frankly, they're doing a really great job there.”
Sastrify relies on process efficiency over bulk purchasing leverage
“Yeah, we actually don't do that on a bulk level because we see that there's actually more in the, more of what we do comes from the efficiency of just doing it more often than once.”
Evopark was automaker Porsche's first-ever startup investment
“No, no, we actually raised, we were the first ever startup that Porsche, the car manufacturer invested in.”
Sastrify's average contract value is approximately $25,000
“Our ACV is around like 25, 25 K more or less.”
Sastrify reached over 70 customers in its first year of operations
“Around 70. A bit more than that.”
Sastrify expanded its sales team from three to 11 in eight weeks
“We just did a split of SDRs and AEs and in total we have about 10 now, 11 up from three, eight weeks ago.”
Fully ramped Sastrify Account Executives target $500,000 in annual recurring revenue
“So once they're fully ramped it's also something like one to two customers a month which gives you like a total of about 500 K AR.”
Evopark raised just $2M to $3M before its acquisition
“We raised like single digit million back in the day. So it's like different, like smaller agents rounds and just like, yeah, no more than like two or three million in total.”
Sastrify's founding cap table included 5% cross-investments with former co-founders
“So all of the other two got five percent each on Sastrify. And we did the same thing with their new business. So we kind of like cross-invested each five percent at the beginning. So the original cap table was basically 45, 45, and then five twice for the othe…”