How Ramper CEO Ricardo Correa grew to $840K revenue and 700 customers in 2018.

hello everyone my guest today is ricardo cohera he has worked for 12 years in the brazilian software industry first as a marketing professional as an entrepreneur since 2012. it's ceo and co-founder from a ramper he's a b2b prospecting he's in the b2b prospecting space using this automation software and it's one of the fastest growing brazilian startups founded in 2016 and today has more than 700 customers ricardo are you ready to take us to the top let's do it okay so what does ramper do and what's the business model how do you make money okay so we are a sas company here in brazil and rapper is a prospecting automation software that helps b2b sales people to generate more outbound leads without struggling doing prospecting activities like cold calls so we help them to be viewed lists based on the their ideo customer profile and automate the outreach using code call sequence and we integrate it with mailing crms and the inbound platforms to automate all the lead generation and what do people pay on average per month for this uh in our currency is about 400 but uh what what currency so each dollar is four times uh here so we can consider one 100 in mrr yeah so about a hundred dollars per month and 400 reals now you have 700 customers which means you're doing about 70 000 per month in revenue and exactly a year ago what were you doing per month in revenue about 10 10 times less than it is about 80 80 per month 80k in in mlr yeah so you're doing about seven thousand dollars per month and now you're 70 000 per month yeah is that right yeah okay great and walk me through some more the history here so you launched the company you said in 2016 yep we we build ramper uh during another inventory from us me and my co-founder in hiki we had a mark digital marketing agents since 2012 here and we work it with more than 100 b2b companies uh working mainly with lead generation and working with all all digital marketing channels and we we saw that activity prospecting is the the mailing channel for hb companies to generate leads but they they are they they were struggling using the traditional way that's based on cold call so we saw that we could automate this process and build up a product so 2016 was launched have you raised capital today are you bootstrapped and we raised a million rails uh that could be uh uh ninja about three three three hundred uh in dollars three hundred thousand us dollars and how many people are on the team today um 35 and is everyone based in sao paulo everyone based on this office here in sao paulo that's great sao paulo brazil and are you cash flow positive today are you burning capital uh we reached break even on this month and we we will raise more money in next quarter how much do you want to raise between 5 million to 10 million in rio so about a million to 2 million dollars yeah it would be a serious day here in brazil and if we convert it in dollar it would be a sieve and what valuation do you hope to get you know difficult to save would be six to seven times our arr so 30 30 million dollars 30 million yeah or about six to seven million united states dollars yeah um do you have a lead investor yet yeah it's uh it's called smart money venture is here very good are they easy to work with so far very easy that's you have to say that because you don't have their money yet right yeah no no but i'm sorry this this one is the one that uh uh still working with us the one that made our our first first round they put in 300 000 already yeah yeah um talk to me about churn what's your turn today um it's lower than uh five percent uh monthly both logo and revenue and do you have expansion revenue or no yeah it's uh but but it's kind of uh one two two percent our total revenue okay so so when you look on an annual basis what's your net revenue retention do you know i don't know okay that's okay talk talk to me about cac how are you getting new customers so what do you what are you spending to get a new 100 a month customer um one one two one point five thousand in reals here okay so about two hundred to three hundred dollars yeah okay so three hundred dollars to get a new hundred dollar a month account means your payback period is about three months is that right and it's i believe four to five months if we consider a gross margin i see okay good by the way i love that you consider gross margin a lot of people don't do that and you really should so five percent payback and and help me understand where are you spending this money what what channels are you putting it in so we invest in digital channels to generate our leads so we invest in google some display networks facebook ads and we use our own solution to make digital prospecting and we we have a road show here in brazil that covers this year and cities more for for education we put physically in a day of sales counting 2 000 people in our road show and we are doing the the the last one here in sao paulo next week for 700 people very good very good all right ricardo let's uh let's wrap up here with the famous five number one what's your favorite business book oh it's crossing the chasm number two is there a ceo you're following or studying right now well i'm standing right now with reid hoffman with her his new new book bleed scaling but the one that i i really like is mark benioff from salesforce number three what is your favorite online tool um i really love the the new ui from gmail where you you have your inbox your calendar your tests and your notes everything you need to work in only a single single screen number four how many hours of sleep to get every night six to seven and what's your situation married single kids married with three kids wow and how old are you yeah 31. holy mackerel you're busy how many uh last question what do you wish your 20 year old self knew good question i would do everything faster i believe even the kids no no the kids are okay guys do everything faster again he launched ramper back in 2016 now has 700 customers paying 100 bucks per month helping them with inbound 70 000 per month in revenue up from seven grand a month a year ago they are break even today they raised 300 grand looking to raise another one million dollars on maybe a seven or eight million dollar pre-money valuation here in q1 of 2019. they've got 35 people in their brazil office less than percent logo term per month spending about 300 to 400 bucks to get a new customer so a four or five month gross margin payback period ricardo thank you for taking us to the top thank you