Sastrify Revenue, Valuation & Funding (2024)

Sastrify reached approximately $140,000 in monthly revenue by December 2021, roughly eleven months after its commercial launch in February 2021. The host calculated this figure by multiplying 70 customers by an implied average of $2,000 per month, and Lackinger confirmed it was "pretty much that." The company had effectively no revenue at the start of 2021, making the trajectory a near-vertical ramp from zero.

Sastrify had 70 customers as of December 2021, up from effectively zero at the start of the year. Named customers include Amboss, a Berlin-based medical training application that was Sastrify's first customer, and Blacklane, a technology-enabled transportation company.

The average contract value was approximately $25,000 per year, and the largest single customer was paying $60,000 annually. Sastrify's pricing is structured as an annual tiered SaaS subscription based on the customer's total SaaS expenditure, though Lackinger noted that headcount is used as a practical proxy when prospects cannot quantify their software spend. The company targets technology businesses with 100 to a few thousand employees. Lackinger indicated that pricing was expected to increase in the near term, given that customers were typically achieving a six-times return on investment and would likely accept a higher price.

Sastrify generates revenue through annual tiered SaaS subscriptions priced according to the customer's total SaaS spend. The service covers the full procurement lifecycle: identifying software solutions, running vendor comparisons, negotiating contracts, managing the buying process, and overseeing renewals. Lackinger described the company as a virtual procurement department for SaaS.

The average contract value was $25,000 per year, with the highest-paying customer at $60,000 annually. Lackinger stated that customers typically achieve a six-times return on investment, meaning a $25,000 contract would be expected to generate roughly $150,000 in savings. He noted that the company was not bundling contracts across customers to extract volume discounts from vendors; instead, the efficiency advantage came from the team's repeated experience negotiating the same vendor contracts daily.

Profitability, gross margin, churn, customer acquisition cost, lifetime value, and burn rate were not discussed in the interview. The company's long-term product vision is to automate the procurement process through a software platform, reducing the current reliance on manual processes.

Sastrify had approximately 53 employees as of December 2021, up from a standing start when the team was first hired in November 2020. The engineering team numbered approximately 8 people, reflecting the company's current emphasis on service delivery over pure software automation, though Lackinger noted that investment in product and engineering was increasing.

The sales team totaled 11 people at the time of the interview, up from 3 just eight weeks earlier. The team was split between 6 sales development representatives responsible for booking demos and 5 account executives responsible for closing deals. Each account executive carried an annual quota of approximately $500,000 in ARR once fully ramped. The SDR team was described as still in early ramp-up, with a target of roughly two demos per week per SDR being established at the time of the interview.