Monthly Investor Update Signup

(ps. you don’t have to be an investor if you just want updated, that’s fine too!)

Townee Investor Update Example

Townee is a SaaS solution helping offline brick & mortar companies create massive new revenue streams by rewarding local customers for promoting their business online and referring friends.

💬 Asks

  • Leads for a great CTO that fits in with our current small, Bloomington-based team

    We're looking for someone with a proven track record in the SaaS startup realm — all leads encouraged!

  • Leads for prospective small businesses in the fitness or health space with an outdated referral program.

    We’re looking for prospective clients in the fitness space with a brick-and-mortar store that ideally is a part of a franchise (think Orange Theory, etc).

    We’re looking for prospective clients in the health space with a brick-and-mortar store (think chiropractors, dental offices, etc).

  • Looking for suggestions/advice on $$ amount and timeline for an upcoming funding round.

📈 Key metrics for Dec 2022

🌨️ Lows

  • Have not yet been able to find a technical partner

    We are still looking for either a suitable CTO or to bring on our first in house developer but have struggled with this to date.

  • We are still built on a low-code solution that includes Adalo and Make (formerly Integromat), but will need to transition soon to scale and have more reliability.

🚀 Highlights

  • We spoke to 20 new gyms and ethicians (two prospects that fit our ICP) and learned that most don't have any way to automate referrals while also struggling with diminishing returns on their social media “boosts” (mainly FB & Instagram) — two big problems Townee solves.

  • We have 10 pilot customers committed to implementing and using us in the next month via our 14 day free trial.

  • As a founder in the sales role, my pipeline with interested prospects continues to grow.

🛣️ In January, we expect to:

  • Close our next 5 customers

    This will bring our MRR to $100+ MRR if they subscribe at our $99/mo/location rate.

  • Beginning stages with nearby angel investors for our seed round

    As we build our number of paying customer and limit churn, we’re soon looking to have serious conversations with both angels and VC firms in the Midwest to reach our seed round goal of $500,000.

✏️ Curious as to how Townee goes to work for businesses? See an example of our newest (franchise) customer, HOTWORX:

No longer want this update? Too frequent? Too long? Too short? Any questions or concerns? Please let me know.

Cheers,

JR & The Townee Team

Monthly Investor Updates

(ps. you don’t have to be an investor if you just want updated, that’s fine too!)