SaaSGrid – a data and analysis platform for SaaS metrics – recently announced a $3.3 million seed round led by Craft Ventures. And SaaSGrid is the first dashboarding tool built specifically for SaaS companies: users connect their data sources and get perfect, real-time charts displaying the metrics every SaaS business should be tracking.
SaaSGrid is a critical tool as companies strive for efficient growth amidst a difficult fundraising environment. And the company formally launched on stage at SaaStr Annual earlier this month.
Despite a broad agreement on which metrics are most important for SaaS businesses, there have not been any dashboards or business intelligence tools that calculate them automatically. And 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. This process is so burdensome that SaaS metrics are often reserved only for quarterly board meetings, even though a real-time view would be beneficial to founders seeking to understand their business.
SaaSGrid identified and standardized the calculations for over 70 essential metrics, including mission-critical calculations such as MRR, ARR, Net Dollar Retention, CAC Payback, Burn Multiple, and Runway. After connecting data sources such as 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. Plus, 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 potential investments. And once founders saw these dashboards, they wanted access to the tool to help with fundraising and their internal KPI dashboards. With this funding round, SaaSGrid officially launches independently of Craft and is available to SaaS startups worldwide. The funds will be used further to develop the product, including pipeline metrics and benchmarking.
KEY QUOTES:
“The need for a SaaS-specific dashboarding tool was so acute, yet nothing existed in the market. So we built it. SaaSGrid provides a way for companies to standardize their reporting and ensure they’re tracking the most important metrics, calculated correctly.”
– David Sacks, co-founder of SaaSGrid and co-founder and partner at Craft Ventures
“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. 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.”
– Ethan Ruby
“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.”
– Diane Garcia, Director of Operations at Scratchpad
