## Lemlist's CEO $20m pitch to a VC Fundraising pitchs are commonly very confidential. Guillaume Moubeche, CEO @ [Lemlist](https://www.lemlist.com/), a B2B SaaS for sales using cold emailing strategies had made public the pitch he did to Pascale Diaine, [VC](VC%20lists.md) from [Storm Ventures](https://www.stormventures.com/). He share with a high transparency his key metrics for Lemlist, which is really interesting in many point, not just from a B2B SaaS perspective. It's also very great to see what kind of questions Pascale asks to Guillaume, it raise some good points on what she's focus on when it comes to understanding his business, which KPIs she value at this stage etc... ### Some takeaways: - Guillaume key arguments are mostly their impressive bootstrapped growth, with as the main KPI, the companys' ARR : $4.4m in Q4 2020. - His goal for funding is ==highly focus on international growth==. - To achieve this, he highlight the fact that they'd cracked up their sales process using ==highly detailed sales playbook==. - He ramp up a sales in 2.5 month. Which mean that the sales is "profitable" and reach his targets in 2.5 month - He asks for a ==$70m - $80m pre-money valuation for his $20m round==. - He know perfectly his KPIs even if he had a note on his computer in backup - They measure a lot of thing for each stage of their sales pipline, like segments, conversions, churn, retention, MoM growth for each KPIs, sales efficiency - He ==assumes and speaks with great authenticity of Lemlist's weaknesses==, mostly about their product. - He use [Clearbit](https://clearbit.com/) to enrich and score each new sign up to then send the client to a specific sales pipeline, using mostly inbound marketing. - Their sales playbook is totaly online so they can teach about each step with more control and efficiency and so have faster ramp ups - Their [sales efficiency](https://blog.hubspot.com/sales/sales-efficiency) is at 8.9. which mean that 1$ spent on sales marketing in Q1 would bring them back $8.9 in new ARR in Q2. *(Not very sure, but according to their explaination, that's seems what it mean.)* - He offers himself to give Pascale access to Lemlist's financial datas, directly in Profit Well and Stripe ### Pascale's questions (synthesis): 1. What are your milestones for each quarter? 2. COVID surely accelerated digital transition for SMEs, will you sustain the same growth if COVID-19 disapear? 3. What's your average contract value? 4. You're mostly mid-market, would you want to go more upmarket? (mean, target bigger companies) 5. What was the first contract value when you signed Zendesk? 6. What's your vision for Lemlist in 10 years? How do you see the future of your company? 7. How many integrations do you have for Lemlist? 8. Which one is the most used? 9. Could you tell me more on your churn or retention rate? 10. What's the biggest churn on your mid-market segment? 11. Do you track usage metrics, such as loggin count, customer behavior etc? 12. Could you explain each step of your sales funnel as well as their conversion rate? 13. What's your average sales cycle? (time to get a client signed) 14. Could you tell me more about your sales team and how you see its evolution? 15. So your sales are making prospection, closing, and upselling? 16. How many different usecases your have for Lemlist? 17. What's your sales efficiency? (for every $ spent on sales marketing in Q1, how much it will bring you back in new ARR in Q2?) 18. What's your inbound-outbound ratio for general leads you access to? 19. Regarding inbound, what is your biggest source of leads? 20. Where do you see yourselves end of Q1 2021 and end of Q2 2021? 21. What's your go to market strategy and what's your main projects to getting there? 22. How do you think about your expansion in the U.S.? 23. Your captable? 24. You're searching for $20m. What is the valuation you're looking for? 25. Do you have questions for me and Storm? 26. *(Answer for Guillaume's question about the process)* I'll need your financial datas, talk to 3 to 4 customers from different segments, meeting with your cofounders and talk to 2 to 3 person around you like mentors, previous boss, partners, employees. ### Guillaume's questions to Pascale : 1. What's your unique value proposition compared to other funds? 2. Could you introduce me to ... (CEOs of Storm Ventures portfolio for feedback and for sales)? 3. What's the next step of the process? How fast we can go? ## Full video <iframe width="100%" height="515" src="https://www.youtube.com/embed/qoBgxEjmh_E" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>