Waveapps logo
Founded 2011

Waveapps

2018 Revenue

$25.2M

YOY

Funding

$100.0M

Overview

About Waveapps

Wave is a company that provides a suite of financial services and online software for small businesses.

Monthly Revenue

$2.1M

Total Expenses

$2.1M

=
Net Income

-$1.0

Ebidta Margin

0.00%

+
YOY Growth

=
Rule of 40

0


How did Latka collect this data?

Podcast Youtube video

Latka collected this data by interviewing Waveapps CEO Kirk Simpson on 12/01/2020

Watch the podcast


Headquarters

235 Carlaw Avenue TorontoOntario

Waveapps Revenue vs Funding

$Funding$Revenue

Revenue

In 2018, Waveapps revenue run rate hit $25.2M in revenue.

$25.2M

Funding History

Waveapps has raised a total of $100.0M.

Why are so many SaaS founders taking money from Founderpath.com instead of VC's?
Funding DateRoundTotalValuation

Customers

Waveapps has 10K customers.

Lifetime Months

50

×
Monthly ARPU

$210.0

=
Lifetime Dollars

$10.5K


Acquisition Cost

$70.0

Average Annual Price

$2.5K

$0$2.5K0 month payback period024681012

Churn

Waveapps has an annual churn rate of 24.00%

Churn vs Expansion

-100-500%50100
Gross Annual Dollar Churn

-24.00%

Annual Dollar Expansion

0.00%

Net Revenue Retention

76.00%

Team

Employees

Waveapps has 280 employees. They have 1 sales rep that carries a quota They have an engineering team of 75. and a marketing team of 14.

20182019202015.00%▲11.00%▲
DistributionQty

Total Team Size

280

Engineers

75 (27%)

Sales

1 (0%)

Marketing

14 (5%)

CEO/Founder

Kirk Simpson

His career as an entrepreneur started after he left university in his senior year and moved on to build two successful tech businesses. It was then that he understood first-hand the pain of managing finances, and knew there had to be a better way to support small business owners. Kirk has since led Wave from an 8 person startup to a growing team of over 275 employees in downtown Toronto. Wave provides entrepreneurs from around the world with award-winning financial software to help them manage their finances. Wave has raised over $100M in funding since its inception and, in 2019, was acquired by H&R Block for $537M CAD in Canada’s 11th largest tech exit. In 2019, Kirk was named Canada’s Most Admired CEO in the growth sector, and Wave was awarded Canada’s Most Admired Corporate Culture by Waterstone HC. Under his leadership, Wave has won many awards for leadership, culture, and innovation, including the Deloitte Fast 50 and Growth 500, the KPMG Fintech 100, and The Globe and Mail's Employee Recommended Workplaces. Wave ranked 6th on Great Place to Work Canada, with special categories for Women, Millennials, Technology, Inclusion and Wellness. In addition, Kirk has served as an advisor to the Next 36, Creative Destruction Lab and provides mentorship to young entrepreneurs and startup visionaries. He is also an angel investor in exciting new ventures by promising entrepreneurs. Kirk is a proud Canadian, husband, father of three and lives in Toronto. In his spare time, he enjoys being with friends, supporting his local community, and loves adventure travel where he gets to ski, surf, and play the occasional round of golf.


CEO Q&A

What's your age?

44

Favorite online tool?

Drift

Favorite book?

Powerful

Favorite CEO?

Satya Nadella

Advice for 20 year old self

learn to code


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Waveapps Board of Directors

NamePosition
Daniel WhiteBoard Member

Waveapps Executives

NamePosition
Kirk SimpsonChief Executive Officer, Co-Founder
Les WhitingChief Financial Officer
Paul MarshallChief Operating Officer
Ashira GobrinChief People Officer
Ideshini NaidooChief Technology Officer

Waveapps Employees

NamePosition
Anderson TanAngel Investor
Asma ErumData Operations Lead
Lawrence BiolDirector Wave Advisors
Alicia MartinEmployee Experience Manager
Michael WarkentinFront End Developer
Sammy HalabiGrowth Manager
Judith LeitnerMy Voice My Lens
Dorsa GiyahiProduct Designer
Swapneel MehtaSenior Manager Risk
Camila LouzadaSenior Talent Acquisition Manager
Tyrone ThompsonSenior Web Developer
Sameena VelshiSr. Director Money In
Joshua SiegalVP Organizational Effectiveness

Frequently Asked Questions about Waveapps

When was Waveapps founded?

Waveapps was founded in 2011.


Who is the CEO of Waveapps?

The CEO of Waveapps is Kirk Simpson


How many employees does Waveapps have?

Waveapps has 280 employees.

How much revenue does Waveapps generate?

Waveapps generates $25.2M in revenue.


How much funding does Waveapps have?

Waveapps has raised $100.0M.


Where is Waveapps headquarters?

Waveapps is headquartered at 235 Carlaw Avenue TorontoOntario

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