Dreamdata.io
Valuation
$30M
2024 Revenue
$3M(Est.)
Customers
120
Funding
$11.5M
YOY
100%
Avg ACV
$25K
Team
45
Founded
2018
Dreamdata.io Revenue, Valuation & Funding (2024)
Dreamdata.io is a Copenhagen-based B2B software company that pulls customer data out of disparate marketing and sales tools, builds a unified view of the customer journey, and connects marketing activity to pipeline and revenue. Founded in 2018 by three co-founders, including CEO Lars Grønnegaard and CTO Ole Dallerup, the company targets B2B marketing and revenue operations teams that need attribution and activation across their go-to-market stack.
As of early 2024, Dreamdata reported approximately $3 million in annualized revenue, up from roughly $1.5 million a year earlier, representing approximately 100 percent year-over-year growth. The company serves 120 paying customers alongside roughly 600 free-plan users, with an average contract value in the mid-$20,000 range annually and a largest customer paying more than $100,000 per year.
Dreamdata closed a $7 million Series A round in late 2022 or early 2023 at a valuation in the $30 million range. Combined with a $4 million seed round raised in 2020 at a $20 million valuation, the company has raised approximately $11 million in total. Founders and employees retain roughly 50 percent of the company. The team stood at 45 full-time employees as of early 2024, with the company burning approximately $30,000 per month and targeting $6 million in annualized revenue by year-end 2024.
Last updated
Dreamdata.io Revenue
Dreamdata reported an annualized revenue run rate of approximately $3 million as of early 2024, up from roughly $1.5 million a year earlier. Lars Grønnegaard confirmed the figure to host Nathan Latka, noting that the company achieved approximately 100 percent year-over-year growth. The company's earliest disclosed revenue figure was approximately $500,000 in 2021, the year of a prior appearance on the same show.
| Year | Milestone | Source |
|---|---|---|
| 2024 | Dreamdata.io Hit $3m revenue in March 2024 | Watch[1]Estimated |
| 2023 | Dreamdata.io Hit $1.5m revenue in January 2023 | Watch[2] |
| 2022 | Dreamdata.io Hit $962.5k revenue in November 2022 | |
| 2021 | Dreamdata.io Hit $500k revenue in November 2021 | |
| 2021 | Dreamdata.io Hit $500k revenue in November 2021 | |
| 2020 | Dreamdata.io Hit $100k revenue in June 2020 | |
| 2018 | Launched with $0 revenue |
With 120 paying customers and an average contract value in the mid-$20,000 range annually, the implied annualized revenue aligns with the $3 million run rate Grønnegaard confirmed. The company's largest customer pays more than $100,000 per year. Grønnegaard attributed growth primarily to new business acquisition, though expansion within existing accounts also contributed.
Dreamdata's stated target is to double the $3 million run rate to $6 million by the end of 2024, maintaining the approximately 100 percent annual growth pace. Using the trailing 100 percent growth rate as a ceiling and applying a deceleration adjustment as a floor, GetLatka estimates 2024 annualized revenue in a range of roughly $4.5 million to $6 million. This is a GetLatka estimate based on the CEO's stated growth rate and target; actual results were not confirmed at the time of the interview.
Dreamdata.io Valuation, Funding Rounds
Dreamdata.io reached a $30M valuation in 2023, set during its Series A round.
Dreamdata.io has raised $11.5M in total funding across 3 rounds, most recently a $7M Series A round in 2023.
Founders
Lars Grønnegaard
CEO
Lars Grønnegaard is the CEO and co-founder of Dreamdata.io. He is identified in the company's known roster as CEO, and the transcript confirms he was the guest interviewed by Nathan Latka in March 2024. Grønnegaard previously served as VP of Product at Trustpilot before leaving to start Dreamdata in 2018. He described his background as moving from UX to product to entrepreneurship.
Dreamdata was founded in 2018 by three co-founders. At the time of a 2021 interview on the same show, Grønnegaard described the founding equity split as approximately 40 percent, 40 percent, and 20 percent among the three founders, before investor dilution. Ole Dallerup is confirmed as CTO. Lars Grønnegaard Hansen is listed on the company roster as COO and Co-Founder. Grønnegaard is 53 years old as of the March 2024 interview, is married, and has three children.
Net worth was not discussed in the interview. A rough GetLatka estimate based on approximately 50 percent combined founder and employee ownership of a company valued at approximately $30 million in the Series A round would imply a combined stake of roughly $15 million across all founders and employees; individual allocations and current valuation were not confirmed and this figure should be treated as a speculative estimate only.
Ole Dallerup
CTO
CTO and Cofounder of Dreamdata.io. Ole is a customer-centric and data-driven technology leader. He is passionate about putting technology to use to deliver real impact. In his time leading technology at Trustpilot, he grew the technology team from 3 to more than 100 in 2 locations. Having enabled product growth to billions of monthly interactions he is an experienced technology leader born in the cloud. Formerly Ole was a technical advisory board member at Apigee.
Q&A
| Question | Answer |
|---|---|
| What's your age? | 56 |
| Favorite online tool? | - |
| Favorite book? | - |
| Favorite CEO? | - |
| Advice for 20 year old self | - |
Customers
Dreamdata had 120 paying customers and approximately 600 free-plan users as of early 2024. The average contract value across paying customers was in the mid-$20,000 range annually, which Grønnegaard described as a blended figure spanning customers paying nothing on the free plan to enterprise accounts paying more than $100,000 per year. The startup entry price is $5,000 per year. The largest disclosed customer account exceeds $100,000 in annual contract value.
The free plan includes two months of data history lookback. The team plan is priced at approximately $600 per month and includes up to 10 seats and up to 30,000 monthly tracked users. Grønnegaard identified monthly tracked users as the usage limit customers hit most quickly, making MTUs the primary upsell driver rather than seat count. The company also offers add-on features such as content performance and return-on-investment reporting that are sold separately from the base packages.
Dreamdata.io serves 120 customers.
Dreamdata.io Business Model
Dreamdata generates revenue through a tiered SaaS subscription model with a free plan, a team plan, a business plan, and enterprise tiers, supplemented by add-on features sold outside the base packages. The company does not publish its full price calculator but prices all customers using the same underlying mechanics, which Grønnegaard described as creating internal transparency and pricing predictability.
The company is not profitable as of early 2024. Grønnegaard confirmed a monthly cash burn of approximately $30,000, which he described as acceptable given the company's runway position following the Series A. The strategy is to hire ahead of revenue and grow revenue into the existing cost structure over the next 12 to 18 months. Profitability was not given a specific target date beyond the general framing of getting closer to breakeven by the end of 2024 and into 2025.
Free tools are cited as a growth tactic for 2024. The free plan is designed to create an upsell path: the two-month data history limit is a deliberate constraint, since B2B sales cycles typically exceed two months, creating a natural incentive to upgrade. Gross margin, churn, LTV, CAC, and net revenue retention were not discussed in the interview.
Point-in-time figures shared on the GetLatka podcast, each linked to the exact moment it was said on camera.
Customers (2024)
120
“Lars Gadigal: So yeah, we have 120 paid and roughly like 600 free customers.”
WatchAnnual profit (2024)
-$30K
“Nathan Latka: Are you comfortable burning $30 a month, a $100 a month more? Lars Gadigal: Yeah, so 30 is fine at the moment.”
WatchFree users (2024)
600
“Lars Gadigal: So yeah, we have 120 paid and roughly like 600 free customers.”
WatchDreamdata.io Employees & Team Size
Dreamdata employed 45 full-time team members as of early 2024. Grønnegaard described the company as hiring ahead of revenue, with the expectation that revenue growth over the next 12 to 18 months would catch up to the current team size and cost structure. Team composition beyond the named co-founders and executives was not detailed in the interview.
Dreamdata.io employs approximately 45 people as of 2026, down from 57 in 2023. It serves 120 customers that rely on its solutions.
| Year | Milestone | Source |
|---|---|---|
| 2024 | Reached 45 employees (March 2024) | |
| 2023 | Reached 57 employees (November 2023) | |
| 2022 | Reached 39 employees (November 2022) | |
| 2021 | Reached 20 employees (November 2021) | |
| 2021 | Reached 20 employees (November 2021) | |
| 2020 | Reached 14 employees (November 2020) |
Frequently Asked Questions about Dreamdata.io
What is Dreamdata.io's revenue?
Dreamdata.io generates an estimated $3M in annual revenue.
Who founded Dreamdata.io?
Dreamdata.io was founded by Steffen Hedebrandt.
Who is the CEO of Dreamdata.io?
The CEO of Dreamdata.io is Lars Grønnegaard.
How much funding does Dreamdata.io have?
Dreamdata.io raised $11.5M across 3 rounds.
How many employees does Dreamdata.io have?
Dreamdata.io has 45 employees.
Where is Dreamdata.io headquarters?
Dreamdata.io is headquartered in Copenhagen, Denmark.
Compare Dreamdata.io to the industry
Dreamdata.io operates across multiple industries. Browse revenue, funding, and growth data for Dreamdata.io in each sector below.
Full Interview Transcripts
Genius SaaS Pricing Page Generated $3m in Revenue Last YearMar 13, 2024
[00:00] Dreamdata.io.com launched many years ago, broke $3,000,000 run rate today up from 1,500,000 just a year ago. They also beginning of last year closed a 7,000,000 series a round. Company and employees still own about 50% of the company. They're burning about $30 a month right now, but plenty of runway. They've hired a team of 45. They're hiring ahead of revenue, obviously trying to grow into that revenue figure and their cost structure over the next twelve to eighteen [00:23] months, hoping to double a 3,000,000 run rate today, up to 6,000,000 by the end of the year as they compete in the B2B marketing SaaS. And most importantly, we're just organizing your data in the marketing org space with a complete and very clear pricing plan. ARPUs today in the 2,000 per month range, dollars $25 per year across 120 paying customers. Hey folks, if we haven't met yet, my name is Nathan Latka. I launched and sold my [00:46] first software company back in 2015 and went on to write a book about it, which you guys made a Wall Street Journal bestseller purchasing over 30,000 copies. Thank you so much for that. After the book, I launched this show and one went on to create founderpath.com. I raised a large fund to do non dilutive deals with b to b software founders. So far, we've invested in over 400 software founders totaling a $150,000,000. Here in 2024, we're [01:16] doing three to four new deals per week. So if you're looking for capital and don't wanna give up equity, go sign up at founderpath.com for free to get your offer. Alright. Let's jump into the interview. Hey, folks. My guest today is Lars Gadigal. He is a UX pioneer turned product person turned entrepreneur. He's now building a company called dreamdata.com, which is b two b customer data activation. Lars, you ready to take us to the top? [01:39] >> Hey, Nathan. Great. Great I'm to be excited for you [01:42] to be here. So look, one of the things when I was preparing for this, I look at your website and it says quote, b to b marketing connected to pipeline and revenue. There are so many companies in the space. They say they use AI and machine learning and they're gonna beat ZoomInfo and then you never know who's real and who's legit and they all buy each other's data. How are you different? [01:58] >> Yeah. I think that's a very good question. So I think fundamentally, there is a lot of, MarTech companies out there and SaaS companies out there in in in the SaaS space for sure. Like, everybody probably knows the 10,000 logo graphic from Scott Brinker. I think fundamentally, like, all those products exist for good reasons. Like, we all wanna serve our customers well. We all want to automate our go to market. We all want to deliver on self-service, [02:25] >> enable people to buy without talking too much to sales. And each of these products are purchased to run those efficient processes and to be data driven. But fundamentally, what happens is every time you add a new product, you add a new data silo. So every time you add a product, you create a new space for your customer data to live. And our goal to solve that. So not just create another data silo but actually get all [02:50] >> the data out of the different products, build one unified idea about what the customer journey looks like, and then with that you can start seeing things like what's the impact of marketing on revenue or this campaign, how did that impact my revenue or I wanna target my top customers. Now you have all the data in one space. [03:10] Now you built a great product at Trustpilot. We use that company. We're very happy with Trustpilot. You were VP of product there. You kick this off this company off in 2018. And I remember you told me in our episode from 2021, you split equity, there's three co founders, you kept 40, Oleg kept 40, and a third co founder had another 20. So that adds up to 80. And then you sold, I think, you raised a $4,000,000 [03:33] seed round out of 20,000,000 valuation. So you sold another 20% there to investors. Is that all accurate? [03:38] >> Yeah, more or less. Think we've raised some money since then. And sort of on equity, we are roughly like the founder and and and founder and and staff is is at about 50% now. [03:52] That's great. Well, so so give me an update because when we last spoke in 2021, know, COVID times, etcetera, you were at about 30 you were at 30 customers. You had broken, I think, 500,000 of ARR of revenue. Where how has the product changed since then? And and are you charging more or less than you were back then? [04:09] >> I think we're charging both more and less. So product is more scalable now, so we have a free product. We had a free product back then as well. Free product is now bigger and more useful for for for our free customers. We have a cheap version of the product, which is reasonably priced, although we we also have, like, startup program. [04:31] What's that what's that price? [04:33] >> That so the startup price would start at, like, 5 k. The free is is 0. 5 k 5 k per year? Yeah. And then what's your [04:42] largest customer paying today total ACV on that customer account? [04:46] >> Our largest customer is sort of on on the other side of six digits now. [04:52] Okay. So over 100 k a year? [04:53] >> Yeah. Yeah. Yeah. [04:54] And how do you get them to expand from free to 5 k per year to 100 k per year? What's the upsell mechanism? Is it number of contacts Yeah. Or something [05:02] >> So that's not the same customer. So I think the free customers would tip, like most often would be smaller businesses, whereas a large customer paying north of a 100 k would would be like an enterprise customer. [05:13] And I understand that. What I'm asking so look, one of the things I think Trustpilot did very well because it worked on me, right, is you guys would carve out like every single thing extra I wanted was always more money. Like if I wanted a certain widget, more money. Premium version of the widget, more money. And before you know what, I'm paying $600 a month for a review tool plugin. So I assume you took some of [05:33] this over here. I mean, when I look at your pricing page, you've got like nine bullets under every single one of these things. And then you also give yourself and your AEs the ability to upsell based off numerical values, like number of years, user activity history, seats included and MTUs. Those three, which are the most powerful upsell mechanism for you? [05:51] >> I would say it's the packages themselves. So it's the feature sets. The feature sets are more or less aligned with different sizes of businesses. So we have add ons and typically we package it so that we have an add on from a larger package and a smaller package in case somebody needs it, but usually like an enterprise customer would fit into the enterprise plan. Mhmm. [06:11] I guess, let me let me ask this differently. Someone paying you $600 a month on your team plan, which which usage limit are they most likely to hit the quickest? 10 seats or 30,000 MTUs? Oh, the MTUs. Got it. Definitely. Yeah. [06:24] >> Yeah. So the seat metric makes sense in some very specific use cases, which is why we price on it. But the major driver there is the MTUs, like monthly tracked users, which is basically the data sort of proxy. [06:39] Did you make decisions on things like putting the avoid ad blockers feature in the business plan versus keeping the B2B web analytics in the free plan? I mean, do you decide on all these things? [06:51] >> So I think that like in a free plan you need a reasonable unit economics. So you need sort of a you need to be super careful about cost, of course, if you're giving the product away for free. So there's a lot of thinking around like how do we maintain a reasonable cost on that product. So that's a key thing, right? And then of course, we wanna keep each product package needs to have a meaningful feature set [07:15] >> that's useful so that people love using it. But especially on a free plan, you want to make sure that there is something to buy, like there are things that you would like to know, like, okay, what happened? I can look two months back in time. B2B sales cycles are often significantly longer than two months, so you want to look further back, right? So there's always, like you say, there's always an upsell. [07:37] Yep. And so how many, you remember you had 30 back in 2021, how many customers are on the platform today, paid only? [07:42] >> So yeah, we have 120 paid and roughly like 600 free customers. [07:48] That's great. So I guess the next question I have for you, because you have one of the more sophisticated pricing pages I've seen, whenever I see a pricing page this sophisticated, I go, okay, they really understand where they're adding value because you also not only decide what utility based metrics to upsell against MTUs, monthly tracked users, you also make decisions around which product features are in each bucket, but you also then have to decide what do [08:09] you want to actually keep out of all of the plans and sell them as a separate add on altogether, like content performance or return on investment report. How do you make that decision? Why is content analytics and add on and not included in one of the packages? [08:21] >> I think one of the key things that, like, if you wanna have something as an add on, you need to make sure that the base package makes sense. And often we'll see like that the add on feature is something that is not relevant for everybody. I think this is a way of avoiding a situation where you sort of be charging, let's say, 5 ks for the product and people go like, but oh, I don't use this [08:43] >> thing. I want a discount. So you avoid that by saying, okay, look, we'll keep that out of the package. We don't have to discuss that. So there's a lot about I think pricing is a lot about, of course, like extracting value from a customer, super important. Creating something that's experienced as fair from both sides. Everybody can understand the pricing. And, yeah. Yeah. So so that's definitely there. [09:08] And so when you look at the monthly plans, the upsells, the add ons, what's the average customer paying per year these days? [09:16] >> So the grand total is sort of in the mid twenties, but that's like you say like, okay, you got some people paying nothing, and you got some people paying plus a 100. So so there's a there's a big spread. [09:31] If we just take mid twenties, $25 a year times 120 customers, it puts you about a 3,000,000 run rate today. [09:37] >> Yeah, that's roughly there. [09:39] And where were you exactly a year ago, we can calculate run rate? [09:42] >> So we did roughly a 100% year on year growth. [09:45] Okay, well, so what you finished last year, you know, middle last year, you're at like a 1,500,000 run rate, something like that. That's great. And what would you attribute most of that growth to expansion into historical accounts or adding brand new accounts together, altogether? [09:58] >> It's a mix, definitely, but we are growing a lot of them on the new biz side for sure. [10:03] That's great. So what's the plan this year? What do hope to grow this year? [10:07] >> So we're hoping to keep that growth pace of around 100% year on year growth, so that's the target for us. We have sort of significant goals around sort of expanding upwards in the market. I think we started with a scalable product, which is like one philosophy. So you start with something that's super scalable and then you go enterprise later. Some people start an enterprise, makes it kind of hard to go super scalable, we feel. So now [10:34] >> we are putting a lot of effort into enterprise. You see the feature set, have added a lot of what you would call like enterprise readiness features to be able to serve those customers. [10:43] Yeah. Mean, was one of my comments coming into this, right? Is if I didn't know what your revenue was and I only looked to your pricing page, I mean, the complexity on your pricing pace suggests to me and looks a lot more like a 30 or $40,000,000 ARR company. So like you're way How sort of ahead of the curve do you manage your org chart in terms of complexity around all these pricing options relative to sort [11:04] of your stage day, 120 customers, 3,000,000? [11:08] >> I think we, on the pricing side, we made a conscious decision when we founded the company that we would care a lot about pricing because it is one of the big underutilized levers in a SaaS company. One of the things we decided from the get go was, hey, we'll be structured around it and we want to be a company that changes price. We want to be able to repackage and that means that we, from the get [11:32] >> go, have had structured pricing. So you want to avoid the situation where you look at your customer base and basically you've got 120 customers and there are 120 different price plans because that creates a lot of low predictability in terms of what happens when I change pricing. So we've always been super structured. [11:55] >> I would say our price model is sort of semi public, but underneath it, we have a price calculator. We don't publish it, but everybody is priced with the same mechanics, so we know exactly how people are priced. And that creates transparency. But yeah, I mean, pricing is complex, but, you know, we're we're engineering types, I guess. [12:15] Yep. Yep. How many folks are full time on the team today? [12:18] >> Total team is 45 people. 45. [12:20] And are you guys still burning cash today each month? Are you profitable? [12:24] >> No, I think like the math there is like not profitable. [12:27] Okay, what are you comfortable with burning? Are you comfortable burning $30 a month, a $100 a month more? [12:33] >> Yeah, so 30 is fine at the moment. I think we came out of, so 2023 was a rough year in SaaS for everybody. We still grew really well. [12:46] >> But it was sort of for us, apart from it being maybe we grew well, we would have liked to grow more. But it was also a year of sort of scaling the org, and now the next, like this year and first half of next year is sort of about making revenue catch up with the org size. Yep. Double double the next two years and we'll be at roughly yeah. [13:06] We're about out of time, but just but just to summarize, you're burning right now about $30 a month. You burned maybe more last year, but you're work you're hiring ahead of growth and you hope to get closer profitability end of this year into next. [13:17] >> Yeah. Yeah. [13:18] Exactly. How how much of the 4,000,000 seed round from 2020 do you sell in the bank? [13:23] >> Nothing. Okay. No. No. We raised since then. [13:26] Oh, you did? How much have you raised since then? [13:28] >> So we raised 7,000,000 series a in, what, early, like, late twenty two, early twenty three. [13:35] Oh, okay. Great. What can I ask what valuation that was? That that was the heyday. Those were the big rounds. [13:39] >> Yeah. I think we were no. It wasn't that great. It was kind of a little bit of when things were slowing down a bit. Okay. Yeah. So we were [13:49] >> I'm not I'm not I can't see [13:52] $30.30 30,000,000 ish, 40,000,000? [13:54] >> Yeah. That range there. [13:55] Yep. Yep. Okay. So I mean, you sold something like 16% of the company. [14:00] >> Yeah. So I think in in total, we're at that, like, roughly 50% of of the ship for the founding team and [14:07] That's great. [14:08] >> Working in. [14:08] Well, that means you have some of that 7,000,000 left, so you've got plenty of runway. [14:12] >> Yeah. Yeah. [14:12] Alright. Let's wrap up here, Lars, with The Famous Five. Number one, your favorite book? [14:16] >> Oh, my favorite book? Yeah. I haven't read it yet, but Marty Cagan came out with a new book, but before that, it would be love to like, I'm a big fan of Marty Cagan, who's like product management guru. That's probably the most influential book for me in in SaaS. [14:30] Number two, is there a CEO you're following or studying? CEO I'm following [14:36] >> oh, shit. [14:38] You can say none. [14:39] >> None. Yeah, no. [14:40] Number three, what's your favorite online tool for building the business? [14:44] >> My favorite online tool for building the business? I think like, okay, I'm gonna be a bit selfish here. I love our own product. [14:50] Your own. Besides your own. [14:52] >> Besides our own, I'm a big HubSpot fan. Think it's just a marvelous tool. I'll be super happy with that. [14:58] Number four, how many hours of sleep do get every night? [15:00] >> What hours of sleep? Sleep? Yeah, six to six to eight. [15:05] Okay. And situation, married, single kids? [15:08] >> Married, lots of kids. [15:10] Two kids still or [15:10] >> you got another one? Three. [15:12] Three kids now. Congratulations. That's exciting. And how old are you? What? Four? Do you have [15:17] >> a birthday? 40 years old? 41? Me? 53. [15:21] Oh, you're 53. [15:24] Is that right? You're 53 today? Yeah. Yeah. Okay. Take me back to when you were 20. What's something you wish you knew back then? [15:32] >> When I was 20 what sorry, what was the question? [15:35] Something you wish you knew. [15:37] >> I wish I knew. Yeah, it's fun doing a startup. I would have done it earlier. [15:43] Guys, there you have it. Dreamdata.io.com launched many years ago, broke $3,000,000 run rate today up from 1,500,000 just a year ago. They also beginning of last year closed a 7,000,000 series A round. Company and employees still own about 50% of the company. They're burning about $30 a month right now, but plenty of runway. They've hired a team of 45. They're hiring ahead of revenue, obviously trying to grow into that revenue figure and their cost structure over [16:06] the next twelve to eighteen months, hoping to double a 3,000,000 run rate today, up to 6,000,000 by the end of the year as they compete in the B2B marketing SaaS and most importantly, we're just organizing your data in the marketing org space with a complete and very clear pricing plan ARPUs today in the $2,000 per month range $25 per year across 120 paying customers. Lars, thanks for taking us to the [16:27] >> top. Thanks, Nathan.
Revenue Recognition SaaS Hits $500k ARR, Raised $4m at $20m Valuation with 30 CustomersNov 4, 2021
Introduction hey folks my guest today is ali dollar up he's a customer-centric and data-driven technology leader passionate about putting technology to use to deliver real impact he's now the cto and co-founder of dream data dot io a revenue attribution and data platform ali are you ready to take us to the top yeah i am looking forward all right so who's buying this product right now so behind it is uh well three tech people we just like enjoy data and kind of solving problems for customers who's buying it right now who are your customers oh so sorry our customers are typically b2b companies uh in the sas space often they are vc backed and at least they are growing fast and what are they paying you for specifically is it just revenue attribution mainly uh so um half is probably paying us for revenue attribution half is paying us for a data platform getting more insight into their customers where attribution can be part of it but as much it's getting the full overview of their customers doing and you have some big customers dixon's been on the show i know they're growing very fast uh you also have some other uh big b2b companies like georgia's using you so you're clearly onto something here when did you guys or what are these what are companies like these paying you an average per month to use the technology so customers pay us i mean it depends of course of size so but they the range is typically between six thousand dollars annually and up to fifty a hundred thousand dollars okay but what would a sweet spot be maybe ten thousand bucks a year uh that's in the low end it's uh okay our average average is around uh 18 000. okay so so you guys are then high min market and moving into enterprise then yes exactly okay now were you always there tell me about your first customer when did you guys launch the business no so we were of course not always there our first business was a kind of a telco but uh they were half says half a telco business um a very local business in denmark um someone we knew in our network uh and the ceo was very interested in this kind of space and and this type of problem um and we were also very early we didn't i don't think we had a crisp clear vision of kind of the problems we want to solve so the first product or the first prototype i would more call it was uh well quite far from what we do what year was that ollie that was in 18 2018 okay and so that was your first customer Currently serving 30 customers you've pivoted since then how many customers do you work with now today now we have around 30 customers 3-0 yes okay and how much is it is it is it no touch or are you putting services on the back end as well so it's uh mostly no touch um so we our customers connect their data sources uh salesforce hubspot the paid media and the tracking scripts into kind of our product and that's self-service if you want um and then where it's often a conversation between us and the customers it depends a little bit on the complexity of a customer's business but sometimes we need to a little bit of customization when we talk about the business outcomes what is the what what are they measuring what is success for them um what is in marketing qualified lead what's the sales qualified lead sometimes that's straightforward modeled out from salesforce and opportunities and sometimes we need to go in and do a little bit of uh if else uh kind of logic yeah and and tell me about how you've capitalized the business are you guys bootstrapped or have you raised Raised so we raised two rounds now [Music] and going fast into racing our c series a next year when did you raise the first round in 18 2018 and how much was that for that was uh a little bit less than a million dollars and why did you guys need that capital why couldn't you bootstrap i think like personal we don't have necessarily kind of much cash could we have kind of bootstrapped and kind of built the product ourselves i think in theory we could we believe we could have moved faster and so when we talk about raising money i don't think we talked so much about um our conversation was not so much whether to do it or not it was more what would it benefit us to get more cash how could we go faster how could we build uh what would we need cash for to kind of make a better product for our customers i think that has been more our focus than understanding to raise raise cash or not and originally they actually so last our ceo and i we left a company called trustpilot and actually more or less when we walked out the door we were offered in the area of the same amount of cash we raised but at that time we turned that offer down not because it wasn't a good offer necessarily but because we were not ready to spend the money we didn't have a clear how are we going to spend this money understood so you raised a million in 2018 and then you did another round as well when was that and how much was that four uh that was in the summer of uh 2020. and here we raised four million dollars okay and what did you spend or what was your thesis at least where were you going to spend that money on so here at this point we have now so the first time we raised we had a prototype and so the money would go into building a small team and building a product and start kind of getting solid proof that this was the right thing to do now the next money we raised was to start building us kind of proving that we could build a solid business okay we could build a predictable revenue that we could find the idle customer profile that we could scale so that when we move into the next phase that we could hire a bunch of salespeople and kind of repeat it over and over again of course there's also a lot of product development going into that so we needed to figure out kind of where any features we needed to cover to do this uh and today i think we are called we would call ourselves kind of feature complete on brand new attribution um at least very close to uh so we needed to cover that as well yeah and and so you raised four million seed and you mentioned you're thinking about raising now how much are you looking to raise now uh so that plan is not ready yet uh i think right now we are focusing and drilling down into just delivering the product the best or the most awesome product we can with the team we have and closing customers so that's our focus right now so we don't necessarily focus on so much on kind of how much you want to raise how did you or if i take the 30 customers you gave me earlier times the average annual of 80 000. that would mean you're doing about 200 000 a month right now on revenue or 2.4 million dollar run rate is that about right uh that's a little bit high but uh yeah but i mean we still have 60 days left in the year do you guys think you can break 2.4 million by the end of the year no we won't break that okay um [Music] so that's a little high so if you're not doing like 200 grand a month maybe you're doing something more like 150 grand a month today uh so we uh uh i'm sorry um you gave me two numbers earlier you said 30 customers and an average acv of 80 000. if i multiply those it's 2.4 million but you're saying it's a little below that i'm just trying to understand how far off we are sure sure sure um i'll just find the numbers i love it he's doing math live i can see the white glow on his screen on his face from his computer screen this is great so i actually log into old product to see this kind of stuff eat your own dog food right yeah sure and we can always kind of fail so um [Music] let's see here um so so the 18 000 was annual recurring uh annual price right um Monthly recurring revenue so so roughly our uh annual recurring revenue is in the 500 000 error okay guys you're doing 500 000 a year right now on nar yeah so i guess what's wrong so hold on you said you had 30 paid customers yeah so 30 30 paying customers and 18 thousand average one eight or eight zero one eight ah that's the error that's uh my poor inclusion that was my fault that was my fault okay got it that makes i'm going these numbers are way off what am i missing now i understand yeah no yes right so so that's the kind of spot we are and yeah um yep that makes sense so so got it and so if you're doing about call it um you know 10 uh or about 500 000 on run rate right now where were you about a year ago do you remember um no but i again about a year ago we were um [Music] at probably more like a hundred thousand uh yeah so do you do you guys think you'll have your first million dollar year next year for sure yeah i mean that that we have to hit yeah next yeah if if not then yeah yeah are you and your co-founder you said there's two of you guys right we had three oh three of you did you split did you split equity evenly at the beginning or no uh no we didn't uh so das and i started the business a little bit before the third quarter founder joined so we didn't spam completely i see so it's like 40 40 20 something like that yeah something like that i see well the reason i ask is obviously as you raise capital you're all getting diluted right so when you guys did your four million seed uh last year what valuation did you raise that at uh so that's numbers i don't have in the head we we kind of dilute it again that's back to i think there's two things when we focused on raising money it's not so much the dilution except we focus more on building a healthy company and making the company attractive for both employees and investors and so if we dilute too fast too early it's not attractive by by employees to join for equity now it's attractive for investors to kind of join because it become maybe less attractive to keep employees and and founders around of course i mean this is standard this is just stuff though right i mean exactly most people on their seat round are selling 20 of the business did you guys sell about the same amount yeah yeah so we every round is it has been between i think 14 and and 20 for us yeah got it so so that seed was then something around a 20 million dollar post money valuation in that range definitely yeah so we are not special in that way where are you where are you and so i assume you guys are hiring engineers now tell me a little bit more about the team and how many engineers and what those engineers are working on product wise moving forward yeah sure so we um the indian team is what are we now we are six seven engineers plus me we're looking for to hire a couple more so to go to nine right now and then of course i have to raise money much more right now the focus is building so being completely feature complete on attribution so we have a couple of lacking features one is content attribution being able to really drill into the content and kind of show our customers what content is driving a strong revenue for you and then we're looking into doing a few things on the application so customers can drill more deep into the data which is real particularly around filters adding more kind of complexity there we're doing a lot of things to the data model and have been doing a lot of things so it's easy for customers to access the data raw um our infrastructure has built a lot on a data warehouse called bigquery and we've always been able to export the data to that but now we are adding support to the customers that are using snowflake or maybe uh amazon redshift can also get their data down and ollie there's eight engineers how many are the full team [Music] we're 20. 20 people very cool and then talk to me a little bit about about churn do you guys have any turn uh so yes so we had some tune [Music] i think this has also been part of the journey we've had particularly since the last funding round but we started focusing uh and going into a journey of finding what is the icp customer for us and as part of that we kind of focused on a more narrow cost type of customer and some of the customers there was maybe more the early customers that didn't um got it this is yeah yeah so when you look at historical the past 12 months what is net dollar retention over the past 12 months would you say no that i don't know that's something i would have is it below 100 that's probably the case yes because if we look at kind of a year so we i think the less than nine months we really kind of kicked the kind of icp customer so if we look at the customers we kind of signed a year ago and filter back they were the less idle customers for us yep yeah make sense good stuff ollie let's wrap up here with the famous five number one what's your favorite business book so my favorite business book is a book business book maybe yeah well team geeks it's a book what's it called team geeks yeah it's a book written by a few people from google uh or former probably uh talking about how kind of business people can talk better with engineers or engineers can talk with the business people um yeah it's quite old actually um yeah very cool number two is there a ceo you're following or studying uh not particularly number three what's your favorite online tool for building dream data it's a tool called data form data what data form data phone phone yeah so it's like it's a competitor to dbt it's now owned by google number four how many hours of sleep to get every uh night five and six five and six and what's your situation married single kids uh married and kids how many kiddos two nice okay and how old are you i'm 39 39 last question what's something that you wish you knew when you were 20 good question uh that yes that school is not everything guys there you have it dreamdata.com revenue recognition they've got 30 customers today doing 500 000 bucks a year in terms of run rate up from 100 000 a year just a year ago they raised about five million dollars to date as they look to scale driving into these enterprise accounts team at 20 right now eight folks again building deeper tools to help content teams and other teams understand what is driving revenue and what's not ollie thanks for taking us to the top thank you one more thing before you go we have a brand new show every thursday at 1 pm central it's called shark tank for sas we call it deal or bust one founder comes on three hungry buyers they try and do a deal live and the founder shares back end dashboards their expenses their revenue arpu cac ltv you name it they share it and the buyers try and make a deal live it is fun to watch every thursday 1 pm central additionally remember these recorded founder interviews go live we release them here on youtube every day at 2 p.m central to make sure you don't miss any of that make sure you click the subscribe button below here on youtube the big red button and then click the little bell notification to make sure you get notifications when we do go live i wouldn't want you to miss breaking news in the sas world whether it's an acquisition a big fundraise a big sale a big profitability statement or something else i don't want you to miss it additionally if you want to take this conversation deeper and further we have by far the largest private slack community for b2b sas founders you want to get in there we've probably talked about your tool if you're running a company or your firm if you're investing you can go in there and quickly search and see what people are saying sign up for that at nathan lacka dot com forward slash slack in the meantime i'm hanging out with you here on youtube i'll be in the comments for the next 30 minutes feel free to let me know what you thought about this episode and if you enjoyed it click the thumbs up we get a lot of haters that are mad at how aggressive i am on these shows but i do it so that we can all learn we have to counter those people we got to push them away click the thumbs up below to counter them and know that i appreciate your guys's support all right i'll be in the comments see ya
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