I’ve been in venture capital for ~2 decades and have sat on many boards, and I’ve never seen the kind of transformation @PodiumHQ just engineered:
Annual cash burn went from $95M to $0.
AI ARR went $0M to $100M — in 21 months.
Here’s what happened…
@PodiumHQ had built a communications product for small businesses. It worked, but coming out of the ZIRP era, growth was flattening.
We were at a critical moment, Pre-ChatGPT: Was the product a nice-to-have or a need-to-have? It was a problem that needed solving.
@ericwilliamrea went into Founder Mode to create a clear need-to-have product.
Experimenting with AI in 2023 wasn’t controversial. But as board members, we weren’t sure the product would work or the revenue would stick. Would all of these customers churn?
Then @PodiumHQ management made the call: invest more time and money into R&D before hyping the product or going big on GTM.
In the first three months, something was clearly different. We’d launched plenty of products before. Nothing had ever taken off this fast.
As board members, we wondered (as board members tend to do): was there a catch?
Nope. And another three months in, still no catch. Just real value.
And now, here we are, 21 months later and AI agent ARR rocketed from $0 to $100M, our overall ARR growth rate is way up and @PodiumHQ has gone from burning $95M a year to $0M.
That “AI chatbot” experiment became @PodiumHQ's top employee, singlehandedly driving $100M in ARR. His name is Jerry.
Jerry is a customer service agent for auto, home services & wellness businesses. Customers often walk in asking to speak with him. He has hundreds of 5-star Google reviews. He even won “Employee of the Month” 😅Why? Jerry answers text/voice 24/7/365 within ~30 secs.
Customers using @PodiumHQ’s Jerry 2.0 are seeing a 30% revenue lift.🚀 Not to mention…Jerry 2.0 can be coached up to any subject in ~60 seconds.
I couldn’t be more impressed with CEO @ericwilliamrea and the @PodiumHQ team, who understood that the qualities that make a great AI agent are the same as those that make a great human employee: Knowing the job, industry and playbook, can be coached and work tirelessly.
No wonder @OpenAI made Jerry 2.0 a case study: Zero to $100M ARR in 21 months, in > 10,000 customer locations. I’ve watched this go from early conviction to undeniable traction.
The market is voting. Find the @OpenAI case study here: https://t.co/fJDPR8Yyfo /END
Objectively, how do you defend this:
Miami (10–2)
– ESPN SOS: 45
– ESPN SOR: 14
– Did not play for a conference championship
– Losses: Two 8–4 teams (SMU, Louisville)
BYU (11–2)
– ESPN SOS: 22
– ESPN SOR: 9
– Played in the Big 12 championship
– Losses: No. 4 Texas Tech on the road & in the Big 12 title game
Notre Dame (10–2)
– ESPN SOS: 44
– ESPN SOR: 13
– Did not play for a conference championship
– Losses: Miami (who lost to two 8–4 teams) & No. 7 Texas A&M
Today’s update
EIGHTY SEVEN independent computer systems rate BYU as the SEVENTH best team in the nation on average, but one CFP committee, and their “human element,” have BYU at 11, coincidentally, just outside of the CFP field
Massey Composite ranking… link in replies