What was the highest valuation you raised at at Chargeify?

40 million US at the time.

And was that 2021 timeframe?

No, it's 2019. How diluted were you at that point? Were you under 20%? I was down to about 15% of the business at that point. You were around a million of revenue. Can I ask when you broke your first maybe four or five million of revenue, what year that was? Yeah, we broke that early last year. Are you comfortable showing your work out today in terms of run rate?

We've grown a triple percentage to it since then.

Oh, wow.

Okay, so broke that early last year. Are you comfortable sharing where you're at today in terms of run rate?

We've grown a triple percentage digits since then. Oh, wow. Okay, so that would put you at like 15 million AR today, somewhere in that range. We don't talk too publicly about it, but yeah. Hey, folks, my guest today is Dan Bladen. He's the co-founder and CEO of Cadence with a K, a workplace management operations system that coordinates people, places, and projects to improve hybrid work.

He previously founded Chargifier, wireless charging company. Dan, ready to take to the top? Let's go. All right. So talk to us real quick about Cadence. When I hear that quick buy, what I think is, okay, when I go to WeWork and I need to book a room, they're powering that, that transaction with your software. Is that right? Kind of, but imagine it instead of WeWork, it was a company's own offices. We work with about 600. We work. 600 companies around the world, think Boeing, Bombardier, Rolls-Royce, Porsche, Revolute, helping them manage their own workplaces. You're absolutely right. Many of those companies want to have a similar we work experience for

their own corporate real estate, but inside of their own offices. Okay, so I'm here on your website. I'm a sales rep at Carger or GWI at their main office, wherever they're located. I need to get on a call. I need a quick side room quickly. I log into the app that's powered by Cadence. I find an open room. I book it for an hour. That's right. Yeah. So you can be a company like Willis

Towell Watson that works with us, right? They've got a I log into the app that's powered by Cadence. I find an open room. I book it for an hour.

That's right.

Yeah. So you can be a company like Willis Tower Watson that works with us, right? They've gone from 10.1 to 4.7 million square feet. So now that everybody's not in the office every single day, though that's obviously a varies difference across lots of different companies, how they deploy hybrid. but they've gone from 10.1, 4.7 million square feet,

roughly saving about half a billion dollars a year in annual leasing costs. And they use cadence to coordinate the people and how they meet inside of those offices. Makes a ton of sense. Just for clarity, again, I'm on the screen around. This little orange desk right here in the old days, it might have been like, this is Joe's desk.

Joe's the only one that works at this desk. But now, Joe might only come in two days a week. So it's open. That real estate's open. The other five days a week, you might put Sam or Sylvia at the desk on Thursday and Friday, something like that. That's correct. Yeah. So lots of companies have what we call structured hybrid work. So they might be in three days a week other people might be in every single day cadence works with all of the above got it okay this makes sense before we get your backstory here i don't want to bury the lead in terms of how you price today these customers that are paying you today how do you charge i see it looks like it's a high touch model i don't see a checkout with credit card here the website. So you must be higher ACB. How do you bill? Yeah, so it's 48 bucks a user a year is what we start at. And that goes all the way up to about 80 bucks a user a year, depending on what modules you use from us. When we started the business, we pivoted from this wireless charging company called Chargify, we looked

at this space. We're like, hey, there's going to be a ton of corporate real estate adjustments

over the next few years. Nathan, it's crazy. There's $22 trillion of corporate real estate in the

US alone. And so what we wanted to do was fix our pricing, not to square foot, but to the people

that used that space, which was a very new

model at the time that's interesting you're seeing the age of AI today a lot of people saying a seat

based model is dead you would say no we are literally a seat based model literally sitting a butt in a

seat you're fine yeah to be honest we're figuring all that stuff out right now we're not seeing any

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