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revops.io

Founded Year

2018

Stage

Seed VC - II | Alive

Total Raised

$6.6M

Last Raised

$5M | 10 mos ago

About RevOps

RevOps is a sales productivity platform that provides automation and collaborative pricing tools that help businesses easily configure, price, quote and sign deals fast.

RevOps Headquarter Location

4366 25th Street

San Francisco, California, 94114,

United States

480-334-2609

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Latest RevOps News

Council Post: How To Grow At Scale Without Breaking The Bank

Aug 8, 2022

August 8, 2022 - Advertisement - Dating Group CIO Bill Alena is a RevOps and CVC executive with more than 20 years of experience in digital media and online dating. - Advertisement - - Advertisement - If you haven’t had a chance to binge-watch all eight episodes of the Apple Original series WeCrashed, you’re missing out on a valuable lesson about scaling and growing a startup. WeWork’s charismatic co-founder and former CEO, Adam Neumann, played by Jared Leto, lived by the mantra that companies must “spend money to grow.” Although exciting—because who doesn’t like to spend money—this strategy can quickly drive a company into some choppy waters. If WeCrashed got the story right, the fatal flaw with a spend money to grow mentality is that extremely unprofitable companies will find it hard to raise unlimited capital—especially in today’s environment. At some point, demand for a product needs to outspace spending. For early-stage companies, investors expect there to be some runway before breakeven and beyond. However, if an IPO is on your horizon, it is best to get fundamentals like monthly recurring revenue, customer churn and capital burn rate in good shape as soon as possible. - Advertisement - On October 21, 2021, WeWork went public with a valuation of $9 billion. Although that’s a respectable valuation in many circles, it’s nowhere near the $47 billion valuation the “unicorn” feasted on before things unraveled. And as of March 2022, WeWork’s 2021 losses were reported to be in the neighborhood of $4.4 billion. Its revenue also fell nearly 25%. To help confront some of the challenges of scaling properly, I’ve created a primer with some tips for enterprising entrepreneurs who want to reach for the stars—and not tumble to Earth: Settle On A Minimum Viable Product (MVP) Beginning with a minimum viable product is one of the best strategies for success. An MVP is a product with enough features to attract early-adopter customers and validate a product idea early in the product development cycle. Embracing an MVP allows entrepreneurs to focus their energy in one place. The product might need to be improved, which is not a stumbling block but an opportunity for innovation. If their interests are scattered around the world and looking toward tomorrow without learning the lessons of today, entrepreneurs will not go through the important steps of understanding the value of their product and knowing what their audience wants. Avoid Expensive Debt It’s easy for new entrepreneurs who’ve done well in their initial rounds of funding to become giddy with their good luck, heady with aspiration and possibly drunk with power. A business launched in a basement with a whiteboard and a six-pack might suddenly have millions, or even billions, of venture-capital dollars behind it. Those holding the money need to remember just that—they are fiduciaries of those funds, not the owners. They have an ethical and legal responsibility to their investors. Avoid or reduce expensive and unnecessary debt at all costs. Maximize Profits And Redirect Them For Expansion Once entrepreneurs start seeing profits from their MVP, only then can they start planning for growth. Getting your burn rate to be lower than your rate of income should be your primary goal. Then, use that money to reinvest in crucial staff rather than stacking the C-suite. Get your product in the marketplace, sell it, then scale with the funds you reinvest. Don’t assume that you can hook another VC for a Series B because you might not get one in today’s environment. The money should be used for the business. Self-aggrandizing purchases are bad for the brand. This will help avoid dissension, and it will set an ethical tone for the company. Partner To Spur Growth Partnership requires trust and an appreciation of the synergies created when people with different ideas, backgrounds, beliefs and skill sets come together. Whether you’re building partnerships with those in marketing, technology or integrations, you will always be better off with experts in those fields instead of reinventing the wheel yourself. The pandemic has made partnerships all the more valuable. Two (or more) entrepreneurs come together to build a product that could lead to a merger or acquisition that would never happen on their own. Ultimately, the customer is best served by strategic partnerships. Keep Customer Churn And Capital Burn Rates To A Minimum Churn happens when you have customers coming in, but you can’t retain them. This brings us back to the power of the MVP. If you are creating a product that solves a solution for your customer base, stay laser-focused on it. If you have churn rates higher than 50%, VCs are going to think there is something wrong with your model. In your first few years, you should adopt a bootstrap perspective and be wise with the funding. You don’t need to have a fancy skyline office in midtown Manhattan or the financial district of San Francisco. You need to have a clear view of your investors’ expectations. At the end of the day, that view means the most to your business’s profits and your future. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify? ,

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  • When was RevOps founded?

    RevOps was founded in 2018.

  • Where is RevOps's headquarters?

    RevOps's headquarters is located at 4366 25th Street, San Francisco.

  • What is RevOps's latest funding round?

    RevOps's latest funding round is Seed VC - II.

  • How much did RevOps raise?

    RevOps raised a total of $6.6M.

  • Who are the investors of RevOps?

    Investors of RevOps include Caffeinated Capital, Gradient Ventures, Jeff Lawson and Coatue Management.

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