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SaaS Interviews with CEOs, Startups, Founders

He Hit $8m in Revenue Helping UK Companies Train Employees Faster and Comply with Regulation

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 1 November 2023

⏱️ 24 minutes

🧾️ Download transcript

Summary

Sometimes, government regulation forces companies to pay for software. Aptem has taken advantage of UK vocational law to hit 170 customers paying $40,000 per year on average. Can they break $10m revenue by December?

Transcript

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0:00.0

Optimus helping companies, big training companies in the UK, teach more people faster in a more efficient manner.

0:05.2

They have 170 customers to say that pay on average $40,000 per month for that software.

0:09.9

They broke about $8 million this year and revenue, up 20% year over year from 6.5 last year, which we love.

0:15.6

They've got a nice team of 120 folks today, 70 on product, five quota carrying reps.

0:20.3

Last valuation, $3 million round last year out of 40, caught 40 million pre-money evaluation.

0:25.1

As Richard looks to continue building business, hoping to hit nine or 10 million of revenue next year.

0:30.2

Hey, folks, my guest today is Richard Olberg.

0:33.0

He is serial human capital entrepreneur, fascinated by technology and how he deploys it to prove

0:38.5

how we deploy it to improve our lives he's motivated by working with interesting and capable

0:43.4

colleagues married with two adult children and also an instrument rated pilot now building a

0:48.0

SaaS for vocational training providers richard you ready to take us to the top absolutely let's go for

0:54.1

it all right what's an example of a vocational training provider so in providers. Richard, you ready to take us to the top? Absolutely. Let's go for it.

0:54.5

All right. What's an example of a vocational training provider?

0:58.0

So in the UK, we have a regulated term. You use it in America as well, called apprenticeships.

1:04.9

And essentially, you can go to college, you can go to university, you can go to school,

1:09.6

and you can be a student and study.

1:11.9

But in the UK, there's over three billion a year being spent on people who have a job,

1:18.8

who are an employment, but are nevertheless learning skills to go one step higher.

1:24.9

So it can be anything from learning how to be a hairdresser to learning how to be a

1:29.4

software engineer, to being a police constable or a nurse, adult care, etc, etc., etc. It's a big market,

1:37.8

half a million people a year in the UK being trained, 1,500 different organisations doing this

1:43.9

training. And my company provides technology

...

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