When you have a great team solving a big problem in a market that is growing quickly, you have a recipe for outsized returns. That’s why we are excited about the future of Place and why they are one of the largest investments in our fund.
This is what Mike Troy, managing director at Geekdomfund and lead investor in this financing round, says about place technology, a financial forecasting and business planning software running on SalesForce for technology and service companies. The company is currently raising funds on WeFunder.
Last week, I set down with Brandon to discuss PlaceCPM, and we were joined by Richard Grossberg, one of Angel Notes’ premium members. As a founder of a franchising business now worth hundreds of millions of dollars, Richard spent millions developing financial forecasting software for his organization, only to find out that most of his franchisees didn’t even use it. So he was very interested in finding out more about PlaceCPM and, in particular, whether small and mid-size businesses understand the importance of financial forecasting (and thus of using a product like PlaceCPM).
We talked about the company’s position in the market, understanding how they differ from big players like FinancialForce and why they chose to focus on two sectors: technology and service companies.
We had some insights about the company’s sales cycle, closing ratios, marketing strategies, and deals in the pipeline. Brandon then shared their financial projections and how they expect to grow over the next four years. We then talked about Place’s operating market and much more. You can see the video recording below:
Did I Invest in Place Technology?
Speaking with Brandon was a lot of fun, and we had many insights that helped me come to a final investment decision. I shared my investment report with subscribers of the Angel Notes newsletter. If you don't know it yet, at Angel Notes, I review 100+ pitches on 10+ platforms every month to find the best deal and send a detailed report every Saturday. You can join through the form below to access the report on Place Technology right now. See you soon!