A good start to the end of Q2!

Happy June, everyone! A lot of things that have been in the works are starting to come to fruition! In response to Jeremy and Jason’s comments last week, I’ve schedule a meeting in a couple weeks (before everyone’s vacations start kicking in) to go over the Q3 goals. This is one meeting where it would be nice to have as many folks in real time as possible, but as always, we’ll record it, if you can’t make it.

Revenue

• Current subscription ACV: $425.3k

• 2024 ARR: $152k

• 2024 Transaction fees: $1,117.34

• Outstanding invoices as of today: $215k

This Week’s Highlights

• 360s! Congrats to Jeff, Martine, and Kate on their 360s this week. It seems like we’re starting to really get the hang of the 360s, which is great! I look forward to hearing any process feedback that folks may have so we can keep making them better.

• Urban American bids! 4 of 7 bidders returning bids within 8 hours is pretty amazing, as is the ~20% bid variance! It’s n=1, but very promising! Kudos to Melissa, Kate, Martine, and Marc for crossing the first threshold on this important experiment!

• Soft launch of back-end calc! The back-end calc service is now in production, but hidden from users. It’s an important step toward the long-anticipated detaching of the front-end application from the calculation engine! This is probably 40% of the infrastructure work that needed to be done for a national product. Congrats to Jeremy and François - can’t wait for hard launch!

• CPC Benchmarking Meeting: I haven’t downloaded with Robin and Jason, but based on the summary email that went to CPC, it seems like this week’s meeting went well? The collaboration with BrightPower to make the CPC process more streamlined is important for several reasons: 1) Improvements make CPC happier; 2) Helps us move to a process that is more lucrative for us and embeds our software even more firmly with CPC; and 3) BrightPower is an important test case for a service provider channel partner, so the more comfortable we are working together, the better.

• Scheduled first investor meeting! While our fundraising strategy is still in formation, we’re continuing to get positive signals in the market. On Tuesday, I have our first “not-quite-raising-yet” conversation with a Seed-stage investor we first met while raising the pre-seed, and I’m already fielding some direct in-bounds as well.

• Horizontal: Last but not least, thanks Maksym Khrystunov for the interesting video on requesting and giving feedback! Open to more iterating on more ideas from the brownbag in Slack?

My Watchlist

Unchanged from last week:

• Meeting CPC’s needs. Can’t overstate how important it is to have a happy CPC – let’s see how next week’s meeting goes!

• Partnerships: Accelerator, GGRF, NYSERDA Data 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.

• 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.

On Deck for Next Week

• Starting the first fundraising conversations!

• NYSERDA RFP 5701 drafting will start in earnest. Please keep an eye out for requests from Melissa Qurk!

• Reminder that the “office” is closed Juneteenth

And here’s what’s on my radar screen - what am I forgetting?

Please Leave Feedback

Feel free to leave comments below., 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
Jason Block	I am so excited about the IDIQ bidding coming together!! And I think CPC is going in a good direction–lots of execute on, but the right stuff.
Jeffry Luna
Jeremy Parker	Good stuff! All very exciting!
Katherine Jones	Who calculated the variance? I just tried and got a ten digit number which can’t be right. My college stat courses have gone to waste.
Luke Floden
Maksym Khrystunov
Marc Zuluaga
Martine Lunis
Melissa Qurk
Naina Shah
Paul Grech
Reuben Firmin
Robin Neri