Profile picture of Felipe Rengifo
Felipe Rengifo
almost 2 years ago
Hi Sarah,
Are you aware of a startup raising on Seedrs (which is now part of Republic) called Collabed? This seems like a potential competitor in a similar niche?
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Sarah Hawley @felipe-rengifo-uribe thanks for sharing! I checked them out, and it looks like they're focused on the skills-gap in the construction industry (and not specifically remote work). Something similar but in a different niche!
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Almost 2 years ago
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Almost 2 years ago
Profile picture of Felipe Rengifo
Felipe Rengifo @sarah-riegelhuth-1 Thanks for your reply Sarah. Also, have you had a look at KettleOS (currently raising on Wefunder?)
Almost 2 years ago
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Almost 2 years ago
Profile picture of Matthew Owens
Matthew Owens
almost 2 years ago
Hi Sarah,
There's a massive increase from 2023 to 2024 in your financial forecast, I was just wondering what factors have contributed to such a projection?
Thanks :)
Profile picture of Sarah Hawley
Sarah Hawley Hi @matthew-owens-3, we have an exponential factor at play and that is the increase in spending existing companies have with us after they've been on the platform for longer periods of time. So far 36% of our companies have increased their spending (since their first month) and that increase alone accounts for 50% of our current revenue. This will become very powerful once we have been in business for a few more years.
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Almost 2 years ago
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Almost 2 years ago
Profile picture of Sagor Molla
Sagor Molla
Investor in Growmotely
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almost 2 years ago
How can i get wire transfer from bangladedh?
Profile picture of Sarah Hawley
Sarah Hawley Hi @sagor-molla, it looks like Republic uses TransferWise from what I can see. Check out there FAQs around payment methods here: republic.com/help/can-i-fund-my-investment-via-multiple-payment-methods-1
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Almost 2 years ago
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Almost 2 years ago
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Murali NAGARAJAN
almost 2 years ago
Hello Sarah,..
Few questions..

I understand your business model as 1 stop shopping from Job ads to hiring to running payroll...
1) What stops companies like Indeed (or even Linkedin) or Upwork etc., (as they have tons of $$$s) to compete with. In other words .. what's unique about your business model

2) I am surprised at the huge 20M valuation... ( yeah yeah i understand the future but you are at beginning) so can you explain how

3) what's your previous raise values etc.,

I am very interested but the valuation is what scares me ( If this initial offering as Class preferred or anti-dilution protected then it makes sense with 20M... jmho)

Good luck
Thanks
Profile picture of Sarah Hawley
Sarah Hawley @murali-nagarajan great questions! My answers below:

1. Couple of factors. We're specifically designed to help the SME (small-to-medium business) market access this new world of remote talent in a really simple and streamlined way. We understand deeply this market as these were the types of companies I built and sold for the past 10 years. We also have a focus on 'conscious' companies and professionals... people and companies who're looking to work together in new ways, and this is a big trend being driven by Millennials and the next generation. We want to do work that matters in the world. The conscious, culture-first approach is a big part of what's unique to us and our area of connecting and focus with our target market.

2. & 3. Kind of go together. We raised an early pre-seed round at a $7M val cap ($350K oversubscribed in March 2020), and have subsequently raised funding at $15M and $20M val caps (totaling $1.3M to date, $300K of which is at the latest $20M val cap). Our ambition is not to create a $50M company or even a $100M company, our ambition is to redefine work for humanity and in doing so create a Unicorn company. Early stage company valuations are tricky for sure.

An additional note to point out, that may be somewhat helpful, is our continued traction since the launch of this campaign. Once we went live on Republic we are unable to update the slides however I'll post shortly with some high level updates on our traction since launch as I think this will be helpful for you also.

Secondly, as an investor myself, it's always important to me and a great experience to meet the founder so I'd love for you to join our upcoming event specifically for Republic investors: us06web.zoom.us/meeting/register/tZEldeupqT0qHtxmZm0R1w8N2EAHTvTXOpTg
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Almost 2 years ago
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Almost 2 years ago
Profile picture of Sagor Molla
Sagor Molla
Investor in Growmotely
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almost 2 years ago
Hi
Profile picture of Sarah Hawley
Sarah Hawley @sagor-molla Hi Sagor, great to have you hear. Please feel free to reach out with any specific questions you have!
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Almost 2 years ago
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Almost 2 years ago
Profile picture of Matthew Kuntz
Matthew Kuntz
2 years ago
I checked out your website. It looks great. It was a little unclear which job openings are current. There are some jobs that are very recent and others dating as far back as July 30, 2021. Are the older postings still active? Are the companies hiring multiple of those roles or have they just not found the right candidate?
Profile picture of Sarah Hawley
Sarah Hawley @matthew-kuntz Hi Matthew! Catching up after the conference over the weekend. We had a great outcome, with 24 new companies joining our community. To answer your question, some of those older postings are where the company hires multiple people into the position, or where they haven't found the right person yet. We're implementing a few things to expire postings too to keep the job board fresh and relevant. :)
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2 years ago
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2 years ago
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Matthew Kuntz @sarah-riegelhuth-1 Thanks Sarah! That's great. Congratulations on the great momentum!
2 years ago
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2 years ago
Profile picture of Matthew Kuntz
Matthew Kuntz
2 years ago
I love this concept. What has been some of the most surprising things about how the market has embraced your service? Those surprises can be such a cool sign that you're starting to find product-market fit.
Profile picture of Sarah Hawley
Sarah Hawley @matthew-kuntz Thanks Matthew - I absolutely love it too, and it's certainly the future. One surprise that's been awesome is watching companies grow once they've joined and made their first hire (one of the earlier companies now has 13 team members). Once they've experienced how easy it is, and how exciting the global talent pool is they post more and more jobs, and make more hires. This will have an exponential impact over time. Also how quickly we've spread across the globe and the surprising pockets where we gain momentum on the professionals side as they tell their friends about us (Romania being one spot, and South Africa)!
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2 years ago
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2 years ago
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Matthew Kuntz @sarah-riegelhuth-1 This is such a great response. Exactly what I was looking for. Thank you!
2 years ago
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2 years ago
Profile picture of Sarah Hawley
Sarah Hawley @sarah-riegelhuth-1 My pleasure, I can talk about Growmotely all day, haha! For real though, ask any / as many questions as you like!
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2 years ago
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2 years ago
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Rudolph de Kock
Growmotely team
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2 years ago
As a team member, software developer and user of Growmotely. I am truly excited about the potential of this company.
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Sarah Hawley Awwww @rudolph-de-kock - you da best. LOVE having you as a team mate, building this baby together!
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2 years ago
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2 years ago
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Isaki Wada-Law
2 years ago
What’s the Pre / Post money valuation expectations?
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Sarah Hawley Hi @isaki-wada-law! We’re using a post-money SAFE with a $20M val cap. :)
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2 years ago
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2 years ago
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Adam Thodey
2 years ago
How do you compare to virtualvocations.com? I noticed they were not listed as a competitor. What were the reasons you did not list them as a competitor?
Profile picture of Sarah Hawley
Sarah Hawley Hi @adam-thodey, great question. Virtual Vocations looks to be a curated remote job board, so they pull together remote jobs advertised in various places into a curated list. Growmotely is different in that companies actually engage their team members through our platform and we handle contracts and payroll so we're providing a different level of support (from a technology perspective) than simply putting jobs in front of people. I hope that answers your question - feel free of course to ask more! :)
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2 years ago
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2 years ago