- Krepling Investor Updates
- Posts
- January 2025 Update
Introduction
In January, we began exploring conversations in relation to our Series A. While the pre-emptive offer we received last year initiated early discussions, many of the conversations we had between November and December centered around check sizes significantly higher than our current capital needs ($8–10M), but without the attractive valuations we were targeting.
After speaking closely with our board and key investors on our cap table, the general consensus was that capital markets are likely to improve toward the end of the year. This could place Krepling in a stronger position to raise a larger Series A under more favorable terms.
From the select firms we engaged, the overarching feedback was consistent: while Krepling’s revenue growth is compelling, investors want to see the impact of Krepling Pay and the newly introduced free trial on topline performance. There was also a desire to see more parts of the business internalized.
In response, we’ve been working on internalizing several aspects of the company here in Boston. As we approach the public launch of Krepling Pay, we believe we’ll be in a strong position to assess and pursue our Series A raise by September.
We also kicked off the year by addressing our headcount and future organizational structure. Our goal is to bring the full operations team in-person by the end of the year, starting with all VP level roles: VP of Operations, VP of Engineering, and VP of Sales. We’ve phased out previous C-level positions (CTO, CMO, and CSO) in favor of a structure that emphasizes a clear reporting hierarchy and allows us to make high-conviction bets on people for executive roles across Engineering, Operations, and Sales.
By mandating all VP roles be in-person, we believe Krepling will operate as a tighter, leaner company with faster iteration cycles, stronger sales execution, and a sharper eye for identifying and developing exceptional talent.
Revenue 🚀
Krepling is now at $465.2k in MRR, pacing 5-7% MoM revenue growth.
Other KPIs 📊
Average monthly gross churn (%) is at 2.7%, Average MRR net retention is at 106%, Average gross margins are at 87%, ARPU is at $4.9k
Burn 🔥
Krepling burnt $54,938 during the month of January.
Runway 🛫
We estimate we have 12-18 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 V2.0.0 of the product (titled 'V2 Release') is at 12%.
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