Back to normalcy

July 11, 2022

There's been a reversion back to the mean when it comes to valuations as SaaS company valuations are back to 2019 levels. Fortunately, there's some back of the napkin math from VCs during that time that is coming back into the forefront. This is what that means when it comes to key metrics we're being measured against.

On the ARR front, we're tracking towards [ ] right now and will be clearing [ ] in short order as a handful of borrowers are brought on board. More than anything though, particularly this year, we're being tracked against our growth and we're already above the [ ] year over year growth as is even today as we ended last year with [ ] in ARR.

We most certainly have the team to penetrate this multi-trillion dollar market and more importantly, $300M in ARR is a fraction of the $35B in annual revenue potential for any infrastructure solution provider in private debt. With the recent metrics we started compiling for Series B, we're tracking towards a [ ] Net Dollar Retention rate and an incredible [ ] LTV:CAC ratio, well above the industry averages here that are being expected of Series B companies. And lastly, as you've all seen with the doubling down on surveillance, the proprietary dataset we've created becomes increasingly more valuable as time goes on.

It's this type of math that gave [ ] the conviction to give us a term sheet and it's these same calculations that these upcoming VCs will be using to gauge how investable are we as a company. With the exception of Revenue/ARR, we've absolutely knocked every other metric out of the park and we're coming in right in the middle of that range for valuation and round size.

We are Series B worthy, there's no doubt about that 🙌