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TrueRev

San Mateo, CA

Ali Rizvi

Phone: 408-391-6564
Email: ali@truerev.com

Presentation: May 21, 2019

NBA Contact

Forrest Jinks

Phone: 707-932-5987
Email: fjinks@altusequity.com

Company Description 

IrriGreen makes an IoT digital sprinkler system that saves 50% the water used in landscape irrigation. Their system centers on an IP protected technology leap, using software techniques from inkjet printing, to vastly reduce the amount of water wasted. They sell it using an IoT service business model that drives recurring revenue. They have over 200 systems sold and installed.

Deal Status

Update as of 7/22/19

Company Description

  • TrueRev's cloud-based software enables companies to successfully manage all their customers subscriptions in one place. 

  • Designed for modern businesses operating in today’s "subscription economy”, you can now manage orders, billing, revenue recognition and subscription analytics for the entire customer lifecycle on a single platform.

History Highlights

  • Product launched in mid 2018, began generating revenue by end of 2018

  • Steady flow of inbound leads coming in despite very limited marketing spend

  • A pipeline of thirty+ companies, have converted to nine pilots and have five paying customers, with more on the way

Current Update

  • Out of 3,500 companies, TrueRev was selected as a “Top 100 Most Fundable Company” in Pepperdine University’s annual Most Fundable Companies List

  • Adding a part-time Public Relation/Marketing position to create more awareness of TrueRev

  • Accepted by Intuit at its marquee conference Quickbooks Connect Conference in San Jose in November

Action Required

  • Seeking funding towards closing seed round.

    • Raising approx. $800K, half way there.

    • Terms:  convertible notes, 20% discount, 5% interest

  • Customer introductions

    • Contact Ali to get a demo TrueRev and understand customer profile