April 2024 Update

What's happening at Krepling

Author

Liam Gerada
May 15, 2024

Introduction

In April, we began key sprints to introduce new functionality for Krepling's primary platform. These enhancements include the integration of AI-based workflows, workflow templates, and a self-serve store builder.

We've observed that the workflow functionality has quickly become one of the most sought-after features among our mid-market merchants. However, the main barrier to widespread adoption has been the time required to create meaningful workflows and A/B test which workflows will drive the highest ROI for merchants. We have been exploring ways to accelerate the adoption rate by providing merchants with a faster means to implement workflows. Our conclusion was simple: data.

We will enable merchants to leverage various data touchpoints from across Krepling's entire ecosystem of data, which is fully white-labeled. This will allow them to create workflows more efficiently. This white-labeled data will be accessible to other merchants in similar industries who are finding success with specific data points, such as geography targeting and product combinations, allowing them to incorporate these insights into their own workflows.

We anticipate these sprints to continue through July and August of this year, culminating in a free trial launch. This initiative aims to democratize these features for first-time merchants as well.

Revenue 🚀

Krepling is now at $288.5k in MRR, pacing 10-15% MoM revenue growth.

Other KPIs 📊

Average monthly gross churn (%) is at 2.5%, Average MRR net retention is at 104%, Average gross margins are at 95%, ARPU is at $4.2k

Burn 🔥

Krepling burnt $51,175 during the month of March.

Runway 🛫

We estimate we have 24-36 months of runway given the current cash on hand.

Team Size 👥

Krepling currently has 12 team members (including both co-founders).

Click here to explore openings at Krepling

We are hiring in almost every sector! Feel free to reach out with resumes you feel we should be taking a look at.

Product Update ⚙️

The current development status of V0.1.0 of the product (titled 'Core Release') is at 91%.

Asks and Discussions 🗣

There are no asks or discussions this month.

Reach out 👋

My email: [email protected]

If you would like to quickly catch up let's schedule 15 mins here:

Best, Liam