January 2023 Update

What's happening at Krepling

February 11, 2023

Introduction

During the month of January, we put most of our core focus on laying down the groundwork and expansion strategies heading into 2023 and beyond. As the Krepling solution begins to move further upmarket (i.e larger merchant adoption), we have begun to lay the foundations for a robust and efficient inbound sales team to go alongside our agency and integration partnerships. We understand the importance of a strong sales force in mid-market commerce, and we will begin implementing relevant strategies in Q1 to then making key sales hires in Q2.

We have also seen resources stretched thinly during the month of January and the first half of February as we begin concluding our fundraising process. It was announced during our October update that Krepling was making its initial steps to raising its Seed Round in January 2023. We started by opening the round to insiders, before moving to outsider talks in the new year. We are pleased to say that interest from outside investors has been very positive despite current conditions within the tech ecosystem.

As planned, we are now in the final stages of the Seed raise and will be giving an update in a separate newsletter to all investors in the coming days/weeks.

Revenue 🚀

Krepling is now at $58.2k in MRR, pacing 15-25% MoM revenue growth.

Other KPIs 📊

Average monthly gross churn (%) is at 0.98%, Average MRR net retention is at 121%

Burn 🔥

Krepling spent $87,455 during the month of January. We are expecting expenditure to rise as we begin to make key hires in Q1 and Q2, and as we conclude our Seed Raise.

Runway 🛫

We estimate we have 5-7 months of runway given the current cash on hand. We are currently fundraising.

Team Size  👥

Krepling currently has 10 team members (including both co-founders).

Click here to explore openings at Krepling

We are will be posting an update on the required positions we are looking to fill in the next newsletter.

Product Update ⚙️

The current development status of V0.1.0 of the product (titled 'Core Release') is at 83%

Sprint 21: From 01/01 to 02/01 -

  • Worked on implementing initial framework behind AliExpress integration into workflows

  • Identified opportunities behind Shippo APIs

  • Improved performance of store creation and editiing

  • Fixed bugs in workflow recommendations.

    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