October 2022 Update

What's happening at Krepling

October 31, 2022

Introduction

During the month of October, we shifted a portion of our operations in-person in Chattanooga Tennessee, whilst still keeping a large area of the company's engineering and marketing team remote.

From a product standpoint, we have begun working on the implementation of AliExpress API ahead of our recent partnership and furthering our growth efforts with wider partnerships across the agency and services space (alongside usual development sprints). Krepling's internal sales team has also begun partnering with some large agencies across south-east Asia and Europe. Matt Dibben, former CMO at Aurora Commerce, now head of partnerships and sales at Krepling, is leading the efforts on expanding our agency program with clear and identifiable objectives. We are seeing great signs of product-market fit with focused and impactful go-to-market strategies with partnerships across the e-commerce services and agency landscapes. More on that here:

How Krepling partners with agencies: A GTM strategy

Head of Partnerships & Sales

https://www.krepling.com/how-krepling-partners-with-agencies/

Krepling has also begun widening its enterprise sales efforts and expanding its team in line with our plan to expand enterprise offerings heading into Q1 of next year. More on that in our December update.

We would also like to draw attention to our Asks and Discussions section of this month's newsletter as we head into our Seed Raise.

Revenue 🚀

Krepling is now at $28.1k in MRR, pacing 25-30% MoM revenue growth.

Side note: Average monthly logo churn has also dropped by 1.1% in the last 3 months.

Burn 🔥

Krepling spent $34,921 during the month of October. We're expecting burn to increase during the months heading into the end of the quarter/year as we continue to make hires to keep up with revenue growth.

Runway 🛫

We estimate we have 7-9 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 currently hiring for the following roles:

  • Content Lead (Remote)

  • VP of Partnerships (Remote)

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 75%

Sprint 16: From 29/09 to 12/10

  • GOALS:

  • 1. Storefront Unit Optimization: The implementation of auto responsive unit metrics that adjust to a customer's location.

  • 2. Product Custom Field - The addition of a custom fields function for each individual product.

  • 3. Buyer Profiles - The addition of individual buyer profiles, enabling merchants to target specific customers based on received and inputted data.

  • 4. Store Clusters - The implementation of store clusters in US, EU and Asia

Asks and Discussions 🗣

We are now Seed ready! We have started raising our seed round starting with insiders first. We would appreciate any introductions to contacts who may be interested in participating.

Here is a copy of our latest deck:

Here is a link to set up a call if you would like to catch up and get more info on the terms and the reserved allocation for insiders heading into the round:

We'd also like to thank the guidance provided by LAUNCH, Brickyard, and Pareto Holdings, pre-seed investors in Krepling, heading into the next round.

Reach out 👋

My email: [email protected]

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

Best, Liam