Sales, Growth and Low-Code'n'Roll
After Thanksgiving in the US and National Holiday in Romania, it's time to get back to growth. This month we are focusing on reaching our $400k ARR target for the year. And we are very close, as we have $120,000 worth of deals in the pipeline that are due in December.
Growth Metrics
ARR is $335k
46 paying customers
Sales Pipeline ARR value is $200k
Targets for 2021
Next year for us is about scaling up our sales effort by hiring salespeople, business developers and growth marketers. We already started this process by hiring our first Salesperson in the US that starts today and a Business Developer for the partner channel in the UK due to start in February. We'll double these efforts with growth marketing.
The total ARR target for 2021 is $3m, with new income coming from
$1.5m from direct sales with 3 salespeople on the model we've proven so far
$700k Organic Growth by launching the free plan
$400k from Partner Channel, with the goal of becoming our main source of revenue in 2022
Cash Flow and Runway
As we currently stand, we have $210k in cash reserves (including Republic investments so far) and are on break even. With the new hires in the next 3 months and projected revenue, our runway will be around 16 months.
Low-Code'n'Roll
Our drive is to become the leaders in the low-code space, which is one of the fastest-growing markets in technology and digital transformation.
Thanks to everyone that invested in Plant an App so far and looking forward to taking this epic journey together!