- Krepling Investor Updates
- Posts
- August 2023 Update
Introduction
As we move into the last half of 2023, we began to take significant steps to accelerate our product development roadmap. Following internal discussions within our wider engineering team, we recognized the urgent need to build out future development sprints based on recent merchant feedback, particularly surrounding the newly acquired ACV thresholds reached. As we remain encouraged by the growth in Krepling’s ACV base, it's clear that as we continue to attract this tier of ACV, the demand for more comprehensive features and integrations within the Krepling platform will continue to rise. To stay ahead of these demands, we intend to scale our development focus over the course of the final two quarters of 2023. In August our team began analyzing the merchant trends from within Krepling’s current ecosystem and identifying key integration areas to focus on over the next 2-12 sprints starting in early October.
In our continued analysis, we believe the increasing adoption of a wider array of specialized e-commerce tools is a double-edged sword. On one hand, it enables more optimized and tailored operations. On the other, it presents a new set of challenges in data management and operational efficiency, particularly for larger merchants. Given this backdrop, centralized solutions like Krepling are becoming increasingly critical as a means to simplify the e-commerce landscape but must remain adaptable as merchants continue to scale. This will become all the more pressing as we continue to scale ACVs.
We want to ensure that the Krepling platform remains not only responsive to larger merchant requirements but also anticipatory of the continued expansion of the wider e-commerce stack
To achieve our ambitious goals, we are increasing our investment in both talent acquisition and technology stack/integration upgrades. This will provide our engineering team with the resources they need to implement the next generation of features and integrations, thus offering a richer and more seamless user experience for our larger ACVs.
On the sales front, we are continuing to see ACVs scale. Our sales pipeline has grown robustly, now standing at $444k in ARR. This puts us on track to hit $2 million in ARR by year-end, quadrupling our anticipated forecast. This momentum strengthens our confidence in our growth strategies and future revenue streams.
Revenue 🚀
Krepling is now at $145.2k in MRR, pacing 10-20% MoM revenue growth.
Other KPIs 📊
Average monthly gross churn (%) is at 1.6%, Average MRR net retention is at 114%, Average gross margins are at 96%, ARPU is at $3,283
Burn 🔥
Krepling burnt $53,260 during the month of August.
Runway 🛫
We estimate we have 24-36 months of runway given the current cash on hand.
Team Size 👥
Krepling currently has 10 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 88%
Asks and Discussions 🗣
We are thrilled to inform you that Krepling has been selected to pitch at Venture Atlanta on the 27th and 28th of September. Venture Atlanta is one of the most prestigious events that gathers the most innovative companies and recognized venture capitalists across the southeast. Despite our round being closed, this is an incredible opportunity that will allow us to showcase Krepling's mission, value proposition, and growth trajectory to a wider venture ecosystem across the southeastern United States. If any of our shareholders are in attendance, or feel there is a firm or company we should speak to, please reach out!
Reach out 👋
My email: [email protected]
If you would like to quickly catch up let's schedule 15 mins here:
Best, Liam