Dear Reader,
Welcome to the 72nd edition of the good reads newsletter by Malpani Ventures. Sharing your weekly dose of articles for this weekend’s reading!
Klaviyo IPO | S-1 Breakdown
https://www.meritechcapital.com/blog/klaviyo-ipo-s-1-breakdown
After an almost two-year drought of SaaS IPOs, Klaviyo, a leading marketing automation company, filed for an IPO. Meritech Capital provides a detailed breakdown on the financials
The company has put up amazing numbers:
$658.3M of implied ARR, up 51% year-over-year. LTM (last twelve months) revenue was $585.1M, up 57% year-over-year
Klaviyo’s ARR per FTE (full-time-employee) was $425K
Sales outside the U.S. represented 36% of total revenue for the first 6 months of this year
More importantly, Klaviyo has strong net dollar retention for an SMB-focused business that has mostly monthly contracts.
Future of HRTech: Building from India for the World
https://blume.vc/reports/hr-tech-thesis#section-5-rising-themes-within-hr-tech
Blume has shared its thesis on HRTech in India
Verticalization is a great strategy to employ when building in a red ocean/crowded and competitive market like HRTech.
Even in the post COVID-19 world, many employers have remained remote and many employees have become cross border. This has created a new market opportunity – tools to manage, motivate, and hire distributed teams.
The SaaStr MiniGuide to Pitching, Raising and Closing VC Funding
A solid guide on fundraising from the folks at SaaStr
Until next time!