You can read our TechCrunch fundraising announcement here.
😩 Everyone needs subscription metrics, but everyone’s reinventing the wheel in spreadsheet hell
You stay up late wrangling data for a board update deck, cobbling together 10 CSV exports of various data sources, wading through a deluge of spreadsheets such as ARR_revwaterfall_byindustry_2022Janupdate_v22, repeating this process to do a slightly different slice of the data (”let’s see the February cohort...now let’s cut the revenue data by industry”). Then, after all that work, one manual error renders the whole analysis unusable.
If you work at a B2B SaaS company, that story may feel uncannily familiar. It’s certainly our story, and exactly why we’re building Subscript, the first subscription intelligence platform. At the last company I founded (where Michelle was my first bizops hire), we would spend hours cleaning, converting, and reconciling data to figure out all our subscription information. We grew to $40M ARR but our analysts still suffered, wading through spreadsheet hell.
We've talked to hundreds of other B2B SaaS leaders, and it's the same story everywhere: businesses have to understand cohorted customer behavior and know their MRR, LTV, CAC, and customer retention metrics at all times, but pulling these metrics is time-consuming, painful, and not always accurate even after all that work. One of our colleagues admitted to having to restate historical earnings by millions because of an uncaught formula error in a massive Google Sheet.
💪🏽 That’s why we’re building Subscript, the first subscription intelligence platform
Today, we’re excited to introduce Subscript to finally make subscription revenue metrics easy. Subscript aggregates data from your existing sources and uses it to automatically produce everything from revenue waterfalls to cohort analyses within seconds.
By pulling deal and expense data from all widely used CRMs, general ledgers, and billing products, Subscript acts as a centralized revenue source of truth for bizops and finance teams (or whoever owns the subscription metrics at your company).
Any additional slices and dices of the data (e.g. seeing revenue or retention by geography, industry, product line, and more) are super seamless. Need something more custom? It’s all exportable to CSV, live-sync-able to Google Sheets, and sendable to your data warehouse too.
Our goal is to equip you with the data you need, and the data you always wish you had, so you can spend less time chasing and reconciling and more time making smart, data-driven business decisions.
🚀 Becoming the ‘revenue source of truth’ for B2B SaaS companies
We’re honored to be working with 18 amazing early customers, including Circle, Census, and Propeller, who are collectively doing analysis across over $100M of ARR. They’ve been using Subscript to prepare for board meetings, run internal strategy discussions, pull metrics for fundraising, and model out future scenarios. Today, we’re opening our doors to more customers: now anyone can sign up for the beta and we’ll let more companies in over time.
To continue to build the product we wished we had at my last company, we’re thrilled to share that we’ve raised $3.75M in seed funding led by First Round Capital with participation from Kapor Capital, Forum Ventures, and Fresco Capital. We are also super grateful to have the support of ~40 angel investors from leadership teams at Plaid, Gusto, CircleCI, and several other B2B SaaS businesses.
From our team, to our customers, to our investors, we’re bringing the best minds together to help tackle this problem. We’re excited to work with more of you to make your subscription metrics easier! In the meantime, you can get smart on how to make the most of your insights by subscribing to our newsletter, The Dive, and by joining our waitlist here.