4.6 • 683 Ratings
🗓️ 19 March 2024
⏱️ 28 minutes
🧾️ Download transcript
Reveeler grew ARR 100% from $25m to $51m in 2023 and took $5m to the bottom line as profits. What interest rate do they pay Hercules on their new $65m debt facility for acquisitions? How does CEO Jay Ackerman plan to hit $100m in revenue this year (2024)? Who will they acquire next?
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0:00.0 | You are listening to conversations with Nathan Latka, where I sit down and interview the top SaaS founders, like Eric Wan from Zoom. |
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0:38.5 | Guys, Reveleer launched back in 2013. |
0:41.2 | They are selling specifically two insurance businesses and then also doctors and folks on the front lines to say, |
0:46.9 | hey, listen, when that doctor is seeing a patient focus on the chronic heart issue, |
0:50.3 | which Jay knows he can surface because of health records that he sits on using a little bit of |
0:54.7 | machine learning AI room to do there, but he scaled nicely, broke 51 million bucks of revenue last year |
1:00.1 | with about 10% EBIT to margin. The year before that, about 25 million, so doubled over the past |
1:05.4 | 18 months, hoping to break 100 million this year. That's the stretch goal. We're rooting for them, |
1:10.0 | funding the business in a very capital efficient way, keeping accurately a new deal done with Hercules. |
1:14.3 | I can't talk about Jay's specific deal, but Hercules public filings, they're usually targeting |
1:17.9 | a 15.5% all-in-weighted yield and 11% headline rates. Sounds like they got a good deal done here |
1:23.3 | as Jay is going to hopefully use that money to go fund future acquisitions as they look to continue to expand ACV, which they've done over the past three years, expanding ACVE almost $3 to $900,000 in annual revenue per average employee, per average customer. |
1:39.4 | Hey, folks, my guest today is Jay Ackerman. He's an enterprise software executive responsible for |
1:44.3 | setting the vision, strategy, and objectives for a Revely. As a leader, he's also keenly focused |
1:49.8 | on shaping and stewarding the culture at the company to attract a robust collaborative team |
1:53.9 | while driving an innovative mandate to accelerate value-based care mission to make this really |
1:58.7 | specific Reveleer as a data and analytics platform for |
2:02.1 | healthcare. So super specific. We're going to jump into it today. Jay, you ready to take us to the top? |
2:06.3 | Yeah, can't wait, Nathan. Let's go. We were just chatting pre-show. Our first chat was all the way |
2:11.3 | back five years ago in 2019. You said you relisten to the episode last night. Do you get |
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