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Front Series C Deck

This is the deck I used to raise Front's $59 million Series C, led by individual investors at leading tech companies like Atlassian, Okta, Qualtrics, and Zoom. Read more on my Medium: https://medium.com/@collinmathilde/announcing-fronts-series-c-20a22370f053 and on Front's blog: https://frontapp.com/blog/2020/01/22/series-c/

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Front Series C Deck

  1. 1. Series C Work happier
  2. 2. Confidential - Do not distribute Why am I doing this
  3. 3. Confidential - Do not distribute Why am I doing this Impact Belonging Front
  4. 4. Confidential - Do not distribute Why am I doing this
  5. 5. Confidential - Do not distribute Why am I doing this 94 eNPS #1 😄
  6. 6. Confidential - Do not distribute Business email is huge and growing Ubiquitous, standard, reliable Corporate email accounts 1billion Business emails 
 per day (+4% / year) 130billion
  7. 7. Confidential - Do not distribute It’s also the biggest bottleneck for productivity No visibility Duplicated work Email overload 1 inbox only ever accessible to 1 user
  8. 8. Confidential - Do not distribute Attempts to solve the problem outside of email are making it worse More copies 
 of the same info Each tool
 wants attention We still get 
 more email
  9. 9. Confidential - Do not distribute Front flips the email model upside down Information access Efficiency and speed Focus Inboxes become accessible to many users
  10. 10. Confidential - Do not distribute It’s hard to keep a growing team in sync and performing at its best 1 piano 1 quartet 1 fanfare
  11. 11. Confidential - Do not distribute Front acts as the conductor of your team 1 orchestra1 piano 1 quartet
  12. 12. Confidential - Do not distribute Each job falls somewhere along the axes of email and workflow Software Engineerx Inbound salesx EA / execxSupply chainx Support rep (SMB)x IT manager, BigCox Recruitingx Insurance brokerx HR managerx Field salesx Marketing managerx Professional servicesx Support rep, BigCox Product managerx Needs complex workflows Doesn’t need workflows Relies on email to get work done Communication can take any form
  13. 13. Confidential - Do not distribute This quadrant of the market is gradually switching to Front Needs complex workflows Doesn’t need workflows Relies on email to get work done Communication can take any form This space is Front’s to own FRONT 1
  14. 14. Confidential - Do not distribute 5,500+ customers Q2'14 Q2'15 Q2'16 Q2'17 Q2'18 Q2'19 ARR growth 2019 137% net $ retention Q2'14 Q1'15 Q4'15Q3'16 Q2'17 Q1'18 Q4'18Q3'19 2019 Quarterly revenue cohorts 2014-2018: strong growth (yet mostly organic) 54% of current users joined in 2019 Q1'15 Q4'15 Q3'16 Q2'17 Q1'18 Q4'18 Q3'19 2019 User cohorts by join date * *As of end of Q3 ‘19
  15. 15. Confidential - Do not distribute 2019: deliberate approach to growth We have identified the use cases where Front’s fit is strongest
 Software Logistics Professional Services Ecommerce/Retail Financial/Insurance Health Fitness Marketing/Design Hospitality Travel Travel/Hospitality Events/Experiences Manufacturing Financial Services Ecommerce Marketing/Advertising Other 0% 5% 10% 15% 20% Customer Support CEO/Owner Operations Sales/Business development Client Services/Success Marketing/Design Engineering/Product Account Management Project Management Finance/Legal Other 0% 5% 10% 15% 20% Diversity of industries (% of revenue) Diversity of use cases (% of customers)
  16. 16. Confidential - Do not distribute We know these buyers, where to find them, what to tell them
 2019: deliberate approach to growth Head of Client Services @ growing Accounting firm Head of Customer Success @ high ASP SaaS Director of Ops @ Corporate Travel Agency VP Operations @ 3PL & 4PL
  17. 17. Confidential - Do not distribute 1/19 3/19/2019 5/19/2019 7/19/2019 9/19/2019 Outbound Opps / Ramped BDR Outbound Opps Outbound opportunities Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Inbound Outbound Deals over $XXk ARR Start of Outbound We leverage this knowledge to build a predictable sales org. 0% 25% 50% 75% 100% 125% 150% 0 5 10 15 20 25 30 35 40 New Business Post-Sales Attrited 200%+ Repeatable sales motions 2019: deliberate approach to growth
  18. 18. Confidential - Do not distribute This market can sustain a strong business… Logistics (“pure players”) Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 Q3'19 LTV / CAC LTV / CAC Supply Chain departments $1.2B Accounting $760M Corporate Travel $760M Property Management $425M Mortgage Brokerages $230MReal Estate Brokerages $900M Marketing Agencies $640M Boutiques Hotels 
 & Resorts $200M Cash efficiency spent to reach $XXm* in ARR $XXm* $360M 5.5B ARR potential just on “strong fit” use cases *Actual values for cash spent and ARR reached were equal
  19. 19. Confidential - Do not distribute …but we can make it bigger Needs complex workflows Doesn’t need workflows Relies on email to get work done Communication can take any form This space can be captured FRONT 2 500m users live in this quadrant
  20. 20. Confidential - Do not distribute We’ve laid the foundations of a great email product 0% 20% 40% 60% 80% 100% Q 117 Q 3 17 Q 118 Q 3 18 Q 119 Q 3 19 Shared inbox Mixed usage Individual inbox Share of users per type of usage
  21. 21. Confidential - Do not distribute Current users can’t seem to get enough of Front… Q1'15 Q3'15 Q1'16 Q3'16 Q1'17 Q3'17 Q1'18 Q3'18 Q1'19 Q3'19 of MAUs are DAUs 72% in app / user / day 148 min Internal comments exchanged grow faster than external messages sent (+125% YoY)
  22. 22. Confidential - Do not distribute …yet they keep asking for more! We’re always trying to find ways to integrate our systems and bring it all into one place so that’s a great thing to build towards. No one wants to have 10 tabs open on 3 different monitors just to stay in front of your business. And Front seems like a place where people enjoy living - like as a home screen. I mean, in our business, we just have a lot of different places where information is inputted and stored and we have to go to recover it. Front is where everybody meets, that's the intersection of all the information, it’s the place where everyone ends up residing to solve a given problem.” A very kind customer A Front user Another Front user
  23. 23. The end game: building the platform for collaboration
  24. 24. Confidential - Do not distribute We’re already delivering on this promise today of customers use the platform55% directly leverage our API18%integrations with 3rd parties52
  25. 25. Confidential - Do not distribute The end game: building the platform for collaboration
  26. 26. Thank you

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