Matt deCourcelle for Paperstreet

Grow your startup network through investor updates.

Hey everyone,

September has come and gone, and so has Q3!

It has been an eventful quarter, full of highs (growth, progress on new products, partnerships), and lows (losing one of our engineers, hiccups in our design process). As we head into October, we have a fresh perspective on what we need to accomplish for the rest of the year and we're excited for Q4.

As always, feel free to reply with any questions or come say hey over on Twitter!

• Two steps forward, one step back. MRR and activation growth were strong while the number of new companies added was lower than expected.
• Hosted Updates is in the home stretch, and we're excited for you to see it!
• References to engineers, data-driven investors, and your favorite founders who need a hand with investor updates are always appreciated. Please reach out to [email protected] if you're able to help with any.

September was a month of growth, learning, and some small steps backward (seemingly). We've landed on a more consistent and meaningful measure of who is considered an "Active" company, so KPIs for this month may look a bit off.

As we round out Q3, we're reflecting on the progress we have made this year while gearing up for a strong end to 2021 in Q4. Our October goals will be shifting slightly, but we are still focused on company account growth and delivering a world-class portfolio product.

September KPI Progress:

• New Portfolios Created: 10
• New Companies Created: 57
• Total Companies: 1,227
• Company Activation: 53/57 - 92.98%

💡 New companies that have created accounts and updated their network with new data points

• Company Retention: 75%

💡Who is this? Companies that have updated their company data that were active in the past month.

• MRR: $1704.16

🔥September Burn => ~$23,700

• Contracted Firms - $8,900
• Contractors / Payroll - ~$13,000
• Software and General Expenses - ~$1,800

🛫 Runway => 13+ months

• We're searching for a new engineer - if you have any leads or anyone you'd recommend, reply here and let us know!
  • Here's the link to the job listing

• We're also continuing our search for more data-driven investors who need to improve their pipeline and portfolio management processes. We've made some meaningful relationships this month, but if you have anyone in mind who may be interested, send them our way!

• Strong MRR growth has continued all through Q3, and especially MoM. Organic Premium sign-ups were the main driver in September.
• Company Activation was at an all-time high as more and more founders are finding immediate value in both the updated product and in tracking improved data points for their investors.
• Our long-awaited Hosted Updates addition to the updates product is finally here, and should be ready to share this week!

• We lost our newest engineer this month. Our engineer Jackson Roberts has been working on a side project building a new system to scale Minecraft servers. He's recently received some media attention for this work and has raised some funding from investors. We're sad to lose him but excited for his journey ahead.
• Portfolio growth was not the main focal point this month, and it shows in the numbers. Moving forward we need to polish the product to provide upfront value to portfolio managers and investors.
• We missed our OKR of new companies created for the quarter, which we see as a sign that our top of funnel strategy is not as strong as previously thought and needs some more TLC

• We have started tracking API calls on our open company search API. We're loosely looking at the number of company search queries which shows how much interest there is in discovering companies on Paperstreet.
  • We're averaging ~1200 search queries a month on the public API alone, this is a great metric to show the newly growing demand (investor) side of the platform.

If you have any questions, are interested in creating a portfolio account with us or just want to say, feel free to respond to this email!

Cheers,

Matt deCourcelle
CEO/Co-Founder @ Paperstreet
[email protected]