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675: Would you acquire Mattermark? Artesian $700k MRR, $40M Raised w/ CEO Andrew Yates: Andrew Yates. He’s the CEO and founder of Artesian and they want to make sellers more effective at engaging with buyers using smart data and new techniques to create the right impact. He’s been involved in the sales and marketing for the past 25 years

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Andrew Yates. He’s the CEO and founder of Artesian and they want to make sellers more effective at engaging with buyers using smart data and new techniques to create the right impact. He’s been involved in the sales and marketing for the past 25 years and is aiming to make a difference to people by creating software companies that make a meaningful dent in the universe. Famous Five: Favorite Book? – Escape Velocity What CEO do you follow? – Godfrey Sullivan Favorite online tool? — Microsoft Outlook, GeckoBoard, Salesforce How many hours of sleep do you get? — 8 If you could let your 20-year old self, know one thing, what would it be? – “I wished I knew more how money and leverage finance works”   Time Stamped Show Notes: 01:13 – Nathan introduces Andrew to the show 01:46 – Artesian provides a sales acceleration platform 01:56 – With Artesian, you can track every single customer, prospect and competitor every day and manage your pipeline risk 02:11 – Artesian’s phrase is “customer curious businesses” 02:44 – Artesian combines thermographic data with the real-time contextual intelligence 02:50 – You can ask Artesian to find you a company that fits a certain profile 03:15 – Artesian has natural language processing science that scans over 10M sources of structured and unstructured data 03:47 – Artesian started providing their service in 2010 03:54 – Artesian currently has 30K paying subscribers with 100 large enterprise customers 04:09 – Artesian covers a broad sector 04:20 – Artesian’s customers are in high value, relationship-oriented, sales engagement 04:30 – Team size is 60 04:38 – Artesian’s goal is to accelerate more in 2017 04:50 – Average pay per customer is $10K to over $2M per year 04:59 – Artesian licenses to software per user, per month basis 05:04 – 68% of target ARR for 2017 has been contracted 05:38 – Before, Artesian’s licenses were cheaper 06:08 – The 30K customers are the number of seats from 120 enterprise customers 06:43 – Artesian made the decision to take down their cash burn in terms of investment 07:04 – Artesian was burning $300K-400K a month 07:15 – Artesian has raised $40M in equity and debt 07:50 – MRR is $700K 08:24 – Customer retention is around 93 and 120 in terms of net 09:10 – Artesian is now number in the GT crowd ranking in terms of the most popular and most intelligent platform 09:59 – Artesian uses a team of researchers to build deep and cool data sets 10:39 – Artesian also invites users to define their own sales triggers 11:40 – Nathan had Danielle in Episode 318 12:00 – Andrew thinks that a market consolidation practice is inevitable 12:26 – A scenario where companies could join forces to give broader reach and greater depth—a better customer experience is definitely more valuable 12:47 – Andrew also drives growth for Artesian 12:58 – It is important to spend time speaking with other companies that are active in the same space 13:14 – The companies can be quite different and quite complementary 13:29 – The last round was a bridge round 13:49 – Artesian is currently equipped to keep going, without investments, for the next 2 years 14:08 – By the middle of 2017, Artesian will be in a cash flow, breakeven profitability state 14:40 – CAC 14:41 – Artesian was tracking 1x in Year 1 15:08 – Artesian uses great people to drive adoption 15:13 – Artesian has 5 methods inside the platform 15:25 – Artesian uses customer relationship management and what the system is telling them to do 15:42 – Running 89% daily user engagement 16:15 – Artesian launched a way to build a smart calendar for each user every day 16:29 – Artesian is partnered with FullContact and others that provide social profiles 16:56 – Artesian is spending $60-70K on acquisition depending on the segment 17:20 – LTV is 5.2 years 17:30 – Artesian tracks this by looking at the average of customers they’re holding on to 17:40 – HBC is one of their customers 19:28 – Andrew would be interested in talking with Salesforce

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