How Wrky.ai CEO Dheeraj Mehndiratta grew Wrky.ai to $30K revenue and 50 customers in 2022.

workie dot AI helps you set your okrs they've got 50 customers paying 50 a month right now for 2 500 a month in Revenue they did a hundred three thousand dollar pre-seed round at about a 1.5 million valuation they sold under 10 there now using that money to scale net burn per month is about 15 000 bucks they've got a team of six looking to move their 17 free trialing customers into paid plans as they look again to continue to scale hey folks my guest today is DJ he's the founder and CEO of working.ai spelled w-r-k-y dot a i he started his career as a financial analyst built two stars previously in edtech and Healthcare manage Investments with an Angel Network and then build a community of 15 000 student developers during the pandemic to help students and startups with internships and trainings DJ you ready to take us to the top yes absolutely thank you all right so what is working tell me about a customer who's using you and how they use you sure working is helping companies to achieve their North Star it's all about people performance and potential we are working with smbs to help them with their goal tracking and Performance Management uh so we are helping small businesses especially the it first businesses and startups they are interesting to keep a track of their goals and starting their goal tracking Journey with us I love this okay so companies like Pandora First Site pay you what are companies paying you an average per month to use workie uh so we started with the nominal pricing a bundle pricing of uh between 50 to 99 dollars per month uh because we thought that with the first hundred customers we'll spend understanding what pricing strategy is something which works for us which works for the people especially for the ones who are starting their Journey with us of cool goals and performance Journey who are starting on our platform so it's a new experience for them as well yeah so so the average customer today pays you about fifty dollars per month is that right yes yes okay and give me the back story when did you launch the company what year so it's been uh it's been around a year uh so we started uh with one principal in mind that we'll build this product on first principle basis since we are not from this industry from past uh I mean we are not from someone who is experienced in five years ten years we just spent last year understanding and learning about this industry and uh we found out the problems that Founders and small business owners face okay right the two things which are really important for them uh their focus as a company and their key Talent what what are they doing to keep a track on these two things right if we keep the market uh a considerable market market conditions are capital aside so key talent and focus of a company this is where we are targeting and helping these companies so DJ I think we're told enters in the products I appreciate that you launched one year ago in 2021 fast forward to today how many customers are you serving so we are currently working with uh 50 companies and uh uh so we spent actually six months uh working a competency framework product which we thought is more for our Enterprise scale customer and we are not ready to uh necess of the Enterprise scale customer as of now that is something we see in the year three so we started with our learnings uh from the small size companies like I said 30 to 100 people-sized companies are the ones with whom we have started and we are working really well with them so DJ today you have 50 customers paying 50 a month which is about two thousand five hundred dollars per month in revenue is that right absolutely absolutely and how much revenue were you doing exactly one year ago uh so uh initially we were doing the uh free trials uh in order to understand the market or to understand the customers uh I think that was the learning which made us realize that uh tapping the Enterprise Market is something which is uh not good for us at this point uh so we were mostly on the free trials when we started building the okr and Performance Management for small businesses uh we gave them uh on a free trial for a quarter and in second trial we started building them so that is approximately six months we are working with these companies and from October we have started building them so I I must say this is a pretty interesting quarter we have started DJ sorry my original question was how much revenue were doing exactly one year ago the answer is zero because you just launched prices a couple months ago yes yes okay oh what's going on there YouTube good to see you guys now imagine this you love watching these interviews with SAS Founders but imagine if we took all of the valuation data out from over 2807 interviews I've done manually saves you a lot of time well we've done this we've built the into the beautiful interface inside of founder path check this out I'll show you how you can access this in a second but you log in you connect your stripe account you see your valuation real time you can see what it changed over the past 88 days and even set goals for evaluation this year now the secret evaluation is there's many different ways to value a SAS business so the reason you're going to see three or four different valuations inside of your founder path dashboard this is all free by the way is because depending on who's doing the buying of your SAS company you're going to get a different valuation a VC is going to pay a different valuation private Equity Firm is different if you're going to do a minority sale that's different and if you sell the whole business that's a different valuation you can see all those when I hover over here here right so the teal is what a VC would pay yellow is what private equity and red is if you sold the whole thing outright now what's cool about this is this is not built off random data again you guys hear these interviews on YouTube all these datas are built from real-time valuation data points Founders share with us on the show so traction 1.2 million seed round 3.7 raise they sold 22 percent of their business go in here and filter by the event maybe you only want to see companies that have sold the whole business well here are a bunch that have been acquired the valuation and the multiple maybe you're going out right now and you're raising your seed round well go in here and look at all this recent seed deals that went down what they raised what valuation they raised at and what percent that they sold there's never been a larger data set of SAS valuation than what you can get now inside of founder path and we're thrilled to bring it to you all right we're gonna go back to the YouTube video here in a second but if you want to check this tool out if you want to jump in and sign up you can check it out for free to get your valuation at this link this link founderpath.com forward slash products forward slash evaluations or if you go to founderpath.com and hover over products click on get your valuation here and go ahead and sign up to give it a whirl again all that valuation data live right inside the platform I hope to see you there all right let's jump back into the interview how many folks right now are on the free trial uh so uh currently uh 16 companies are on the free trial one six or six zero uh 16 is 1 6 yeah okay and how what do you know what do you try and get them to do in the free trial to activate them to increase the likelihood they start paying uh so uh basically in this time uh they are understanding how the okrs work whether this really works for them or not uh this is their more of a discovery Journey where we have a DJ what does that mean what do you need them to do in their free trials it's set up 10 okrs is it send five emails is the ad for team members what do they need to do so that they're more likely to pay Mission uh so uh in the free trial we allowed them to uh add a one function or one Department from their organization and run the ocals for a quarter uh where we help them in understanding whether this is going to work for them in a long run so we are we are basically playing in their favor they must realize whether this thing is paying uh is bringing an Roi to their organization and then they are likely to stay with us for the next couple of years where we believe three to five years we are going to be deeply embedded into that organization that's why we spent first three months in rediscovered and have you bootstrap this business or do you decide to raise capital let me have this coverage when did you raise and how much so we raised in the beginning of this year around March we raised a an undisclosed around uh from a couple of angels from India and us so this enabled us to build POC and uh uh on board these customers um when you say Angela I mean most Angel rounds are under a million bucks is was you around under a million up to uh 150 000 uh US Dollars okay so you did an angel round earlier this year for 150 000 bucks now most Founders are selling between 10 and 20 of their business and their pre-seed round did you sell about 20 of the business uh no no no no this is uh this is less than uh ten percent okay and why did you need the capital well I mean what makes this expensive to build um I mean uh we made I mean we made our tries in building that competency framework her product where we spent the capital that...