SaaSGrid Launches First Dashboarding Solution for SaaS Companies
Creating a new standard for SaaS metrics, SaaSGrid helps companies identify, calculate and track the most important metrics
SAN FRANCISCO, Sept. 6, 2023 /PRNewswire/ -- Today SaaSGrid, the data and analysis platform for SaaS metrics, announced a $3.3M seed round led by Craft Ventures. SaaSGrid is the first dashboarding tool built specifically for SaaS companies: users simply connect their data sources and get perfect, real-time charts displaying the metrics every SaaS business should be tracking. The need for a tool like SaaSGrid has never been more critical as companies strive for efficient growth amidst a difficult fundraising environment. The company is formally launching on stage at SaaStr Annual today.
Despite broad agreement on which metrics are most important for SaaS businesses, there are no dashboarding or business intelligence tools that calculate them automatically. Creating charts is a manual, time-intensive, and error-prone process that involves pulling data into warehouses and CSVs, cleaning up messy data, and writing SQL queries and Excel formulas. The process is so burdensome that SaaS metrics are often reserved only for quarterly board meetings, even though a real-time view would be incredibly helpful to founders seeking to understand their business.
"The need for a SaaS-specific dashboarding tool was so acute, yet nothing existed in the market. So we built it," said David Sacks, co-founder of SaaSGrid and co-founder and partner at Craft Ventures. "SaaSGrid provides a way for companies to standardize their reporting and ensure they're tracking the most important metrics, calculated correctly."
SaaSGrid has identified and standardized the calculations for more than 70 essential metrics, including mission-critical calculations such as MRR, ARR, Net Dollar Retention, CAC Payback, Burn Multiple, and Runway. Using SaaSGrid is simple. After connecting data sources including Salesforce, Hubspot, Stripe, Quickbooks, and spreadsheets, SaaS teams have instant access to real-time dashboards and insights – including metrics they might not have known they should be tracking. This gives SaaS leaders access to all the information they need to run their companies day-to-day, report to their board, or engage in fundraising rounds.
SaaSGrid CEO and co-founder Ethan Ruby developed an early prototype of SaaSGrid to help the investment team at Craft Ventures run metrics for prospective investments. Once founders saw these dashboards, they wanted access to the tool, not just to help with fundraising but for their internal KPI dashboards. With this $3.3 million in seed funding, SaaSGrid officially launches independently of Craft and is available to SaaS startups worldwide. The funds will be used to further develop the product, including pipeline metrics and benchmarking.
"I've spent countless hours wrangling data and writing SQL queries and Excel formulas to make SaaS metrics dashboards – both as an operator and as an investor." said Ethan Ruby. "The process is painful, and I found myself wishing there was a tool that could help. In talking to SaaS founders and operators, I realized I wasn't alone: everyone struggles to pull data from their systems, clean up edge cases, and get the accurate reporting necessary to run their business. SaaSGrid is the tool SaaS leaders have been wanting for."
SaaSGrid is already the source of truth for KPIs for hundreds of SaaS companies and is SOC 2 compliant so customers know their data is safe and confidential.
"Before SaaSGrid, we had to manually download Salesforce reports every quarter and spend days modifying, calculating, and verifying the data to ensure it was up-to-date. Since implementing SaaSGrid, we are able to monitor sales and renewal progress in real-time, and generating board reports takes minutes instead of days," said Diane Garcia, Director of Operations at Scratchpad.
About SaaSGrid
SaaSGrid is the dashboarding tool built specifically for SaaS companies, setting the standard for how SaaS metrics are calculated, analyzed, and reported. Founded by David Sacks, Ethan Ruby, and Teddy Ruby, SaaSGrid is based in San Francisco and New York City and backed by Craft Ventures. Visit SaaSGrid.com to get the insights needed to make the most important decisions for any SaaS business.
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SOURCE SaaSGrid
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