- Krepling Investor Updates
- Posts
- October 2023 Update
Introduction
In October, we worked on an intensive phase of developer sprints heading into arguebaly the most demanding . This initiative was strategically timed to coincide with the Black Friday Cyber Monday (BFCM) event and the broader holiday season, recognizing these periods as pivotal for our growth and success.
I am pleased to report that our efforts are yielding tangible results. We have observed a significant increase in net expansion on our average Annual Recurring Revenue (ARR), especially in the mid-market segment. This is a testament to the effectiveness of our solutions and the growing trust in our brand.
Simultaneously, our sales team has been proactively building our pipeline for Q1 2024. Their focus is not only on acquiring new clients but also on managing the increased net expansion of our existing Krepling merchants. This expansion is a usual trend during the holiday months, and we are well-prepared to capitalize on it.
Furthermore, we are intensifying our efforts to expand our sales team. Recognizing the importance of having a robust and dynamic sales force, we are in the process of making key hires that will strengthen our team as we head into Q1 2024. These strategic additions are aimed at enhancing our capacity to reach new markets and effectively serve our growing customer base.
Revenue 🚀
Krepling is now at $175.2k in MRR, pacing 10-20% MoM revenue growth.
Other KPIs 📊
Average monthly gross churn (%) is at 1.6%, Average MRR net retention is at 108%, Average gross margins are at 96%, ARPU is at $3k
Burn 🔥
Krepling burnt $62,034 during the month of October.
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 90%
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