Mission: Deepen relationships between business owners and their most trusted advisor.
Vision: We envision a world in which all business owners get quality financial advice.
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https://www.loom.com/share/3fa13bfb88b84af8a5bb79201f1402f7?sid=a76e5766-5a39-4152-8beb-368314129199
“Hey man, I know you are doing a hard thing. I just want you to know your product is making a real difference in people’s lives.”
What a great text to get, from a prospect nonetheless. Often times during the sales process, we’ll offer a firm the ability to run a report to prove the value we can provide. In this example, a firm we are courting took us up on the offer, and changed the outcome of an exit for an owner they were working with. A client of theirs had an offer from a private equity firm rolling up professional services firms. They used RISR as a sanity check, brought it to the buyer and used it to advocate for nearly a $1m increase in purchase price. As a result, the owner closed and walked with nearly 20% more, which also meant the firm gathered 20% more in AUM. Good stuff!
July was a critically important month for RISR, from a product perspective. We reached code complete on v2 and are moving into QA & testing over the next couple of weeks ahead of the launch. Remember that we just launched RISR in market, in March of last year. 16 months later we are launching a far more robust product that will really differentiate from any competition. I am incredibly proud of our team for the sheer amount of product that we have built in a short amount of time. While we have a long way to go to build all of the things that we want to build, to be a truly great company, we are well on our way.
In the last 30 days we opened and or progressed key enterprise deals: Janney, Raymond James, Northwestern Mutual, WSFS, John Hancock & Mass Mutual. Moreover, we made big strides this month towards expanding key accounts like New York Life, National Life, Thrivent, FS investments (Now Future Standard). While new sales were slow this month, we continue to add net new ARR. This month included one firm and 5 individual licenses for $36k (ARR) of bookings.