Matt deCourcelle for Paperstreet

Grow your startup network through investor updates.

Hey everyone,

Starting this month, we're transitioning back to monthly updates rather than quarterly. We've decided as a team this added transparency and commitment to our goals will help drive progress faster - plus we love writing updates 😏

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

• We're on the search for a new lead engineer, and data-driven investors interested in better pipeline management
• There were quite a few encouraging signs in August, highlighted by good MRR growth and the establishment/validation of multiple new partnerships
• Communication, prioritization, and focus were the major blockers to some key projects in August. Moving forward, we have steps to enhance each of those in place.

Taking what we learned in Q2, we're more focused than ever on delivering a world class solution for startups and their data. In August, we saw some encouraging progress towards our key goals and MRR growth but new company and portfolio growth slowed considerably.

For September, we are planning on two new launches and enhancements to drive adoption and retention forward. We are also furthering some new partnerships (more on that later) to support revenue growth.

August KPI Progress:

• New Portfolios Created: 4
• New Companies Created: 69
• Total Companies: 1161
• Company Activation (July): 33/103 - 32.04%

💡 New companies that have created accounts, added contacts and distributed at least one update.

• Company Retention: 78.79%

💡Who is this? Companies have sent one update that was active in the past month.

• MRR: $1479

🔥Monthly Burn => ~$23,000

• Contracted Firms - $8,900
• Contractors / Payroll - ~$13,000
• Software and General Expenses - ~$2,000

🛫 Runway => 14+ months

• Multiple pilot programs with our partners have kicked off this month, and will continue to be huge value adds for the Paperstreet community
• We've had a number of product enhancements launch this month as well that have improved the overall user experience, including better tagging of companies, expanded data fields within profiles, and a version history for profiles
• Exploring new verticals has proven successful so far, with an overwhelmingly positive response in our latest user testing & discovery survey

• Delivery dates on multiple projects were moved back due to ad-hoc tasks and bug fixes that required significant effort to handle
• Some confusion on OKRs led us to rethink some of our goals, and refocus on the big picture
• A lost portfolio deal was a major blow to our progress, but something to be learned from

• We're beginning our search for a new Lead Engineer to build the next phase of Paperstreet. If you have anyone in mind, we'd love to meet them
• As a part of our move towards pipeline management, we're also looking for data-driven investors who need to improve their pipeline process or who are looking to make better investment decisions. If you have anyone in mind who may be interested, send them our way!

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]