How We’re Fixing Growth Our After Getting Stuck At $8m ARR

SaaSOpen, September 2024

Kyle Racki

CEO & Co-Founder, Proposify

The good old days

High growth, high NPS

How We Moved Upmarket

3 things allow us to have mid-five and six figure customers

• Product�Closed some gaps (Salesforce, SSO, SOC-2)

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• Positioning around control + visibility (hired April Dunford)

• Pricing �Moved to per-seat, CSM, professional services

Growth by Segment

Our initial growth was driven by small self-serve customers

• Small segment began declining rapidly in 2022

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• Large segment grew steadily and now same in ARR as small

How We Got Here

Product stagnation started around here

Growth slowed during 2021

Yearly Net Income Loss

From Burning $400,000/month to profitable in 2 years

Headcount over time by department

One of the Toughest Days of My Life

But also one of the best things we did

• Helped us get to profitability

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• Reset the culture

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• Got us back to startup mode

2023 Financials

We became profitable in 2023

Buying us time to innovate our product

2023

Fixing Our Culture Debt

• Building a performance-driven culture

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• Getting scrappy again

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• Making tough �conversations the norm

Meeting My New VP Engineering

One developer changed everything

Shout out to Mathieu

2023

Fixing Our Technical Debt

We’re Not Out of the Woods

It takes time to fix things when you’re stuck

• Decline flattening out

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• Most new product features haven’t launched yet

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• External market conditions still tough

Takeaways

Momentum is hard to rebuild once you lose it.

• Solve for your biggest constraint

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• Leaders are your leverage

• SaaS is a marathon, not a sprint

Thank you!

SaaSOpen, September 2024

kyle@proposify.com

Kyle Racki

CEO & Co-Founder, Proposify