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SaaS Interviews with CEOs, Startups, Founders

1265 How $100m ARR HotSchedules Passed 160,000 Restaruant Customers, 110% Net Annual Dollar Retention

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 10 January 2019

⏱️ 20 minutes

🧾️ Download transcript

Summary

Mike Arenth serves as CEO at HotSchedules. Prior to being named CEO, Mike joined HotSchedules in October 2016, focusing on implementing key leadership changes to support innovation and growth at HotSchedules. Other previous roles include Senior Advisor at Silver Lake, Executive VP for SAP, and SVP & General Manager at Ariba. Mike received a B.A. in economics from John Hopkins and his M.B.A. from George Washington University.

Transcript

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0:00.0

Have more fun, joined hot schedules back in about two years ago, 2016, and then eventually

0:05.4

took over as CEO more recently.

0:08.1

They call it mid-2017.

0:09.6

Now they're serving over 160,000 restaurant locations across over 3,500 concepts.

0:15.5

Think Wendy's, Young Brands, you know, McDonald's, things like that.

0:18.7

They've raised north of 20 million bucks, but more

0:20.8

importantly, they're profitable. So they don't have to IPO. They don't have to raise more

0:24.4

capital. You know, they're growing caught about 20% year over year, currently doing about

0:29.4

a hundred million dollar run rate. 110% net dollar retention. Under that metric,

0:34.3

you've got about 90% gross dollar retention annually. So healthy economics, payback periods, all healthy, less than 12 months.

0:41.1

And quite frankly, sometimes less than two, three months, depending on the cohort.

0:44.5

600 people based across remote locations, again, helping restaurants manage their businesses more effectively.

0:50.8

This is the top entrepreneurs podcast where founders share how they started their companies and got filthy rich or crash and burn.

1:02.0

Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines.

1:11.1

We went from a couple hundred thousand dollars to two point seven million.

1:14.6

I had no money when I started the company.

1:16.6

It was a hundred and sixty million dollars which is the size of any IPOs.

1:19.6

We're a bit strapped.

1:20.6

We have like 22,000 customers.

1:24.6

With over five million downloads in a very short amount of time, major outlets like Inc are calling us the fastest growing business show on iTunes.

1:34.0

I'm your host, Nathan Latka, and here's today's episode.

1:38.3

Hello, everyone.

...

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