Hey hey, we got paid our first CPC transaction fee this week! Why that’s important: Our mission is to speed up climate-responsive construction and Marc and I discussed from the start that we wanted our success to be tied closely to achieving that. The most direct way to do that is to be paid for construction starts. Receiving a first payment is a great signal (e.g. to investors) that we’re on our way.
On the flip slide, the transaction we just got paid for didn’t close on the platform (as the product team already knows). Kudos to the product team for rallying this week to come up with the quick fixes needed to allow CPC to bring the bid data back on platform.
Our thesis on transactions is that we can deliver important data that de-risks construction decisions (like pricing and performance information) only by hosting transactions on platform. This conviction comes from two decades of working in the dark: we all deserve better than 40% variance on bids! We’ll need to redouble our effort to understand the barriers to fully on-platform bids as soon as GP is launched!
Current subscription ACV: $425.3k
2024 ARR: $152k
Outstanding invoices as of today: $143k
First transaction fee received from CPC ($197.34)!
Congrats to prod team on Release 62!
Lots of motion on GGRF - we’ll hope it’s on the whole moving us in a good direction, though at the moment, it seems very chaotic
Laying groundwork for Accelerator RFP. Marc presented on 321 Go! to MOCEJ and DOB, alongside current Accelerator PM, ICF. We’re convinced we can do much better than ICF, but it’s going to be very competitive.
Preparing for next raise: Good (supportive) conversation with Great Wave, our investor.
Meeting CPC’s needs. Can’t overstate how important it is to have a happy CPC.
Partnerships: Accelerator, GGRF, NYSERDA Momentum RFP. Lots of strategizing about relationships and winning teams.
Onboarding: Looking forward to getting more feedback, both from ML+KJ and from SOC2 process
Dev pipeline: I’m looking to the prod team to keep on improving communication and process!
Metrics: I think we’ve stalled a bit, but that’s OK for right now.
Prepping Raise: If we’re raising in the fall, we need to do homework (new competition survey, revised revenue projection, etc)
Don’t be a series of small businesses: Marc and I are shopping for some founder coaching to make sure we’re staying on a venture-scale path.
GGRF:
Formalize our partnership with New Ecology and Elevate (Marc Zuluaga)
GGRF: for me, conversation with IMT on partnership for their hubs concept.
Fundraise:
Investor update with Catalyst
Review potential lead investor list
Elemental Excelerator: “do or do not”
RFPs:
Accelerator: Draft project plan (my plate)
NYSERDA data RFP: teaming discussions
ConEd Re-compete: Seems like not yet, Jason Block?
And here’s what’s on my radar screen - what am I forgetting?
Feel free to leave comments below (edit on a layer to add your notes), or leave a comment.
Did I miss a highlight?
Did I miss something that should be on my watchlist?
Something else you want to react to?
| Chuck Lin | |
|---|---|
| Demetria Wambia | |
| Erika Parkins | |
| François Huet | Symbols matter when they demonstrate success in the right direction! Happy to see this transaction go through, and excited to put in place the features to make the next ones stay closer to Momentum. |
| Jason Block | I am so excited for the transaction part! But definitely concerned about catching up on CPC needs. But I think we have a good near-term plan for some of it. |
| Jeffry Luna | Process, Process… Process.. :) We will get there. Super happy to be here on this milestone :) |
| Jeremy Parker | Dev team are working on clarifying and streamlining our process. 👍 |
| Katherine Jones | I know it’s a ways off, but having contractor data aggregated on the platform will be a beautiful thing to behond. |
| Luke Floden | |
| Maksym Khrystunov | |
| Marc Zuluaga | First one is the hardest when it comes to transaction fees! Nice job team! |
| Martine Lunis | |
| Naina Shah | |
| Reuben Firmin | |
| Robin Neri |