The Wire

Real-time updates from ANZ tech sales

5 months ago
News

RevenueCat data: Hard paywalls convert 5x better than freemium, longer trials win

## The Numbers That Matter RevenueCat's 2026 State of Subscription Apps report covers 115,000 apps processing $16 billion in revenue. The dataset is mostly B2C mobile apps, but the conversion and retention patterns apply to B2B subscription models. The spread is brutal: top quartile apps grew MRR 80% year over year. Bottom quartile shrank 33%. Median growth sits at 5.3%. You are either compounding fast or dying slowly. ## Hard Paywalls Win Hard paywalls convert downloads to paid at 10.7% median versus freemium's 2.1%. That is 5x better conversion. Top 10% of hard paywall apps hit 38.7% conversion. Revenue per install tells the same story: hard paywall apps generate $2.32 median at Day 14 versus $0.27 for freemium. By Day 60, it is $3.09 versus $0.38. That is an 8x gap. Retention at 12 months is nearly identical between models. Freemium does not retain better. It just converts worse. ## Day 0 Decides Everything 55% of all 3-day trial cancellations happen on Day 0. Over half of potential subscribers leave before they have spent a day with the product. The same pattern shows in conversions: 50% of all paid conversions happen on Day 0. The first session determines whether someone cancels or becomes a long-term subscriber. Onboarding is not optional. The aha moment has to happen in the first 10 minutes or it never happens. ## Longer Trials Convert Better Trials of 17 to 32 days convert at 42.5%. Trials of 4 days or less convert at 25.5%. That is a 70% lift from running a longer trial. Despite this, short trials grew from 42% to 46.5% of all trials year over year. Apps are shortening trials even though the data says longer trials win. ## What This Means for B2B Mobile apps run more pricing experiments than most B2B SaaS teams. The velocity gives them conversion data faster. The patterns travel. If you are running freemium because it feels safer, you are leaving conversion on the table. If your trial is short because you want faster cash, you are losing paid conversions. If your onboarding does not deliver value in the first session, your churn starts on Day 0. The subscription economy does not care whether you are B2C or B2B. The metrics work the same way.

SaaStr
5 months ago
News

SaaS death greatly exaggerated: vibe coding kills point solutions, not enterprise sales

# SaaS Death Greatly Exaggerated: Vibe Coding Kills Point Solutions, Not Enterprise Sales The SaaSpocalypse narrative is everywhere. Public SaaS multiples are resetting. AI will let customers vibe code their own tools. B2B software is dead. GTMfund GP Max Altschuler published a take this week that cuts through the panic. His thesis: customers have never bought software because they lacked the ability to build it. They buy because building and maintaining it is economically irrational. ## What Survives Take DocuSign. Enterprise buyers do not choose e-signature tools based on technical feasibility. They choose based on legal enforceability, compliance, and trust. No serious company risks contract legality to save $10 per seat per month by building internally. Same logic applies to CRMs and ERPs. The cost to host, secure, patch, and maintain a complex platform dwarfs any perceived savings. Those engineering resources are better spent on core product differentiation, not reinventing Salesforce. ## What Dies AI kills point solutions. Surface-layer tools where a custom internal build delivers more value than a generic off-the-shelf product. But here is the reality: many of those companies were structurally fragile before AI. They were already struggling to justify their existence. AI just accelerates the reckoning. ## What This Means for Sales Teams If you are selling enterprise infrastructure, mission-critical workflows, or compliance-heavy tools, your job is not disappearing. Buyers still need vendors they can trust when stakes are high. If you are selling a point solution with weak differentiation and shallow integrations, the pressure is real. Your pitch needs to be airtight on ROI, and your product needs to deliver outcomes a custom build cannot match. The narrative around SaaS death conflates two separate issues: the declining cost to produce software, and the reasons companies actually buy it. Those reasons have not changed. Legal risk, operational burden, and opportunity cost still drive enterprise purchasing decisions. What has changed: the bar for what constitutes defensible value just got higher. Weak products with thin moats are getting exposed. Strong products solving hard problems are fine. Worth noting: this analysis came out the same week public SaaS multiples dropped amid broader AI disruption fears. The market is revaluing software, but the fundamentals of enterprise purchasing behavior remain intact. Companies still buy software to reduce risk and focus resources on what differentiates them. That has not changed, and vibe coding does not fix it.

Sales Hacker
5 months ago
News

Stone & Chalk CEO Chris Kirk exits after $9M turnaround, 11 years

## Stone & Chalk CEO exits after financial turnaround Chris Kirk is stepping down as CEO of Stone & Chalk after three years in the role and 11 years with the innovation hub. He leaves the organisation financially stable after an $9 million turnaround from multi-million dollar losses. The role is relevant for early-stage founders building out leadership teams. Kirk took the CEO job when Stone & Chalk's finances were in trouble. He pulled it back to stability while overseeing 500+ startups and scaleups across Sydney, Melbourne, and another capital city. ## What matters for sales teams Kirk's exit interview covers founder accountability and when to hire leadership. Key points for sales leaders: - **Building support structure**: Kirk gathered advisors and support around him to succeed in his first CEO role. Relevant for founders moving from IC to leadership. - **Knowing when to step in**: As "regimental sergeant major" to hundreds of founders, Kirk developed a framework for when to advise versus when to let teams figure it out. Similar challenge for first-time sales managers. - **Work-life accountability**: Kirk talks about maintaining family commitments (father of two) while in a high-pressure role. Relevant given sales leadership burnout rates. Stone & Chalk is a not-for-profit that provides workspace and support for startups. The CEO role involves both operational turnaround work and founder advisory. Kirk's tenure shows the path from early employee (11 years ago when it started in Sydney) to CEO. ## Comp and structure No compensation details disclosed for the CEO role. Stone & Chalk operates as a not-for-profit, which typically means different comp structures than VC-backed startups. The organisation runs physical hubs in three cities and supports 500+ member companies. Kirk's replacement has not been announced. The role reports to a board and oversees both property operations and startup advisory functions.

Startup Daily
5 months ago
News

CrowdStrike hits $5.25B ARR, stock drops: markets wanted acceleration

CrowdStrike shipped $331M in net new ARR last quarter, up 47% year over year. First pure-play cybersecurity company to cross $5B ARR. First year above $1B in net new ARR. Record operating income, record free cash flow, record EPS. The stock traded down. Why? Markets wanted to see acceleration, not just strong growth. CrowdStrike is guiding for continued performance but not predicting the business speeds up from here. That is the 2024 expectation: AI should make your numbers move faster. ## Net retention at 115% while scaling past $5B Dollar-based net retention hit 115% in Q4, up from 112% in Q1. At this scale, NRR is supposed to compress. Law of large numbers, maturing customer base, good enough effect. CrowdStrike is moving the other direction. Gross retention held at 97% every quarter. That means existing customers are buying more modules, expanding into more clouds, and adding use cases. Platform motion is working. ## Falcon Flex driving expansion without sales intervention Falcon Flex, the flexible consumption model, hit $1.69B ARR, growing 120% year over year. Worth noting: 380+ customers have already re-flexed, meaning they expanded their agreement without a sales team needing to renegotiate. Nearly 100 have done it multiple times. Average ARR lift after adopting Flex is 26%. Product earns expansion, commercial model does not block it. This is what land and expand looks like when it actually works at scale. ## What this means for sales teams Cybersecurity sales roles are not getting commoditised by AI, despite the narrative 12 months ago. Enterprise buyers are still spending, still expanding, and CrowdStrike is still hiring to support growth. The Flex model shows where consumption-based selling is heading: customers expand on their own timeline when the product delivers. That changes comp structures, quota setting, and what enterprise AEs actually do day to day. For sales professionals evaluating cybersecurity companies: look at net retention trends and consumption model adoption rates. Those numbers tell you if the expansion motion is real or if it depends entirely on rep-led upsells.

SaaStr
5 months ago
News

Six ANZ startups raised $123.2m: Lyka $67m, Firmable funding

Six Australian startups pulled in $123.2 million this week, led by fresh dog food subscription startup Lyka with a $67 million Series C. New York VC firm LGVP led the Lyka round. The company ships fresh dog food on subscription, revenue up 4.5x in 18 months, now profitable in Australia. They are eyeing US expansion. What this means for sales teams: Lyka will likely add operations, customer success, and potentially enterprise partnerships roles. Fresh funding usually means 6-12 month hiring runway. Watch for Sydney-based postings. B2B sales startup Firmable also raised this week, though specifics on amount and investors were not disclosed. The company focuses on sales intelligence and prospecting tools, competing in the same space as ZoomInfo and Apollo. The other four startups spanned ag-tech fertiliser, education tech, and infrastructure software. Combined total across all six: $123.2 million. ## What to Watch Series C typically means scaling mode. For Lyka, that is operations and CX. For Firmable, expect SDR and AE hiring if they are following standard B2B playbooks. Funding environment context: This is a solid week for ANZ. $123m across six deals suggests investors are still backing category leaders with clear unit economics. Lyka profitability in home market before expanding is the model VCs want to see in 2026. Worth noting: Lyka founder Anna Podolsky retained detail control of the raise. No leaked cap table, no drama. That discipline usually correlates with thoughtful hiring and realistic quotas. If you are watching the ANZ market, Lyka and Firmable are worth tracking for role postings over the next quarter.

SmartCompany
5 months ago
News

Lumonus tops Series B to $28m, hiring US sales and clinical teams

Sydney cancer medtech Lumonus added $3m to its Series B, bringing the total round to $28m. Brandon Capital and Investible joined four months after the initial $25m close in November. The funds are earmarked for US go-to-market and clinical success team expansion, plus product development on Lumonus AI Physician and Lumonus AI Dosimetry. ## What They Do Lumonus builds AI-powered workflow automation for radiation oncology. Founded in 2024, the platform is used across the US, Australia, and Europe. To date, clinicians have used it to consult and prescribe on 280,000+ cancer treatments, automating 75,000+ treatment plans. ## The Round Aviron Investment Management led. Oncology Ventures, which backed the seed round in March 2025, returned. Brandon Capital and Investible are new backers. ## Sales Angle US market expansion means hiring. CEO Keith Hansen flagged "world-class team" growth, specifically calling out go-to-market and clinical success roles. The company is targeting US health systems ready to adopt AI-native oncology workflows. Worth noting: medtech Series B hiring typically skews toward enterprise AEs with healthcare domain expertise and clinical success managers who can handle complex implementation cycles. Oncology sales require longer relationship-building than standard SaaS. ## Market Context Healthcare AI is attracting capital, but oncology workflow automation is a specific niche. Lumonus is betting that radiation oncology teams need better operational tools, not just diagnostic AI. Hansen says scientific innovation has outpaced the systems supporting care delivery. The company processed 280,000 treatments in under two years. That scale suggests product-market fit, which usually triggers go-to-market investment. Series B extensions are common when founders see faster traction than expected and want to accelerate without waiting for Series C.

Startup Daily
5 months ago
News

AI startups run $2M quotas per AE, traditional SaaS math breaks

## Two Models, Same Question: How Many Reps? AI B2B startups are running two completely different sales models. Both work. Both have trade-offs. Your choice depends on how much capital you raised and who is running your revenue org. ## Playbook 1: The Mega Quota Quotas: $2M to $4M per AE. Deal size: $50k average. Close rate: 2x normal because inbound is white-hot. The math: 10 deals per month at $50k = $500k monthly = $6M annual bookings per rep. ElevenLabs is the case study here. VP of Sales Carles Reina (employee four, first investor) scaled them to $330M ARR in three years. Quota formula: 20x base salary. If you make $100k base, your quota is $2M. Miss it, you are out. Attainment rate: over 80%. They started 90% inbound, deliberately shifted to 50/50 inbound/outbound. Reina recognised pure inbound is a trap. It works while demand surges, but does not build the muscle for what comes next. Land-and-expand motion: deals start at $12k, grow to millions. Both AE and CSM get paid on upsells, double comp on expansion. Two people working every account hard. The upside: capital efficient. Small team, massive output per head. Strong margins. The downside: you leave deals on the table. When quotas are sky-high, reps focus on the hottest leads. The pre-closed ones. Mid-market prospects who need a second call never get a callback. You hit your number but miss the full market opportunity. ## Playbook 2: Traditional Quotas, Mass Hiring This happens when a hot AI startup crosses $50M ARR and brings in a pre-AI CRO. The board wants $150M in new bookings. The CRO runs the old math: $150M / $700k quota = 200 reps. Hire them tomorrow. You service every lead. You build pipeline coverage. You do not leave money on the table. But: you need capital to fund the ramp. You need infrastructure to onboard 200 reps. You need deals to close at the rate your model assumes. When the market shifts or inbound cools, you have 200 people and not enough pipeline. That is when the layoffs start. ## The Real Question Not which model works. Both do. The question: which trade-off can you live with? Mega quotas mean elite reps, strong margins, and missed opportunities. Traditional quotas mean full market coverage, capital burn, and scaling risk. ElevenLabs went hybrid: high quotas, small team, but built outbound discipline to avoid pure inbound dependency. That might be the actual playbook: start lean, prove the mega quota model, then layer in outbound before inbound inevitably cools. Worth noting: if your reps are sitting in an office doing virtual meetings, Reina says you are wasting money. Get them on planes. Face-to-face close rates are 3x higher. Toast's data backs this up. One more thing: forecast pessimistically. Underestimate deal sizes. Assume slippage. Forces you to build a bigger pipeline than you think you need. Prevents the feast-or-famine cycle that kills revenue orgs.

SaaStr
5 months ago
News

Figma CMO on PLG-to-enterprise: build the team early or lose deals

## The Enterprise Investment That Changed Everything Sheila Vashee knows what happens when PLG companies wait too long to go upmarket. As Dropbox's second marketing hire, she watched them scale to over $1 billion in revenue. Now, as Figma's CMO, she is doing it differently. The key difference: Figma built their enterprise team far earlier than most PLG companies do. The result: 95% of the Fortune 500 uses Figma. That is not luck. That is strategy. ## Why Optics Matter More Than You Think Vashee's take: building the enterprise team early is both operational and optical. Enterprise customers need to see you are invested in their success before they will bet on you. If your sales team looks like an afterthought, your deals will reflect that. For AEs and sales leaders, this translates to clear messaging: show enterprise buyers you have the infrastructure, support, and commitment they need. That means account teams, customer success resources, and sales engineering capacity, not just a product that scales. ## Brand Is Every Experience (Not Just Marketing) Vashee defines brand as what people say about you when you are not in the room. That includes how your support team talks to customers, how your AEs engage buyers, and what your product actually delivers. Every person at the company is a node of brand. For sales teams, this matters: your pitch only works if the rest of the customer experience backs it up. If implementation takes six months when you promised three, your brand takes the hit. ## The AI Reality Check On AI: Figma is using it to enable human creativity, not replace it. Vashee's focus is on how generative AI shifts marketing from SEO to GEO (generative engine optimisation), and why social validation and third-party channels are back as core growth levers. For sales teams, that means buyer research is changing. Prospects are finding you through AI-powered search, Reddit threads, and peer recommendations, not just your website. Your messaging needs to show up where buyers are actually looking. ## The Bottom Line Vashee's advice for anyone building a brand or GTM motion: make good stuff. No fluff, no shortcuts. Just deliver what you promise, invest in the teams that make it happen, and show enterprise buyers you are serious about their success.

Sales Hacker
5 months ago
News

SaaStr runs 30 AI agents: harder than managing 12 humans

SaaStr has been running AI agents in production for 10 months. What started as experiments turned into 30 agents handling outbound, inbound qualification, and internal ops. The top problem: context switching. Amelia, their operator, manages four separate dashboards daily: Artisan, Qualified, Salesforce AgentForce, and Monaco. None talk to each other. When they ran a ticket promotion, she manually updated five agents with identical context. No product exists today that unifies these tools into a single management layer. Second issue: the blackout period. Every new agent costs two weeks minimum to onboard. During Monaco's setup, existing agents sat idle because no one fed them new contact lists. Monaco shipped results (6 meetings from 64 contacts in week one), but other agents degraded. The math: one to 1.5 new agents per month maximum, or you cannot keep up. Third problem: succession planning. All knowledge about agent segmentation (which contacts go where, which agents handle what) lives in one person's brain. If that person leaves, the entire operation breaks. The implication for sales teams: AI agents are not set-it-and-forget-it. They require daily one-on-ones. Wait a week and the output goes stale. Most agents idle waiting for human input. You are paying for capacity you are not using. SaaStr runs agents on Claude, Replit, and multiple vendor platforms. They have an internal AI VP of Marketing called 10K that assigns daily tasks. It works, but the overhead is real. For sales leaders evaluating AI agent deployment: budget the human time. One operator can manage roughly 30 agents with daily check-ins. Plan two-week blackouts per new agent. Document everything because vendor platforms do not integrate and the knowledge will not transfer automatically. The promised orchestration layer does not exist yet. What sales ops teams actually need is unification: a single interface where humans meet with AIs. Until that ships, expect manual work across multiple dashboards and genuine operational complexity.

SaaStr
5 months ago
News

Envato cuts 200 roles, a third of headcount, in AI restructure

## The Numbers Envato is cutting up to 200 roles, roughly a third of its 600-person headcount. Cuts hit teams in Australia, New Zealand, Mexico, and the US this week. The company confirmed restructure is underway but would not share specific numbers. ## What Changed CEO Hichame Assi told staff the business is "reducing the number of layers, creating smaller and more focused teams" while "reducing operational costs to ensure we can invest further in product, marketing and AI." This is the second major cut under Assi's leadership. He shed 100 roles in mid-2022, about 18 months after founder Collis Ta'eed stepped down. ## The Shutterstock Factor Envato was acquired by US-listed Shutterstock for US$245 million in 2024. The 20-year-old Melbourne-born creative marketplace is now part of a larger portfolio restructure. Worth noting: Shutterstock itself has been through multiple rounds of cuts as AI reshapes the stock content industry. When your acquirer is cost-cutting, integration often accelerates headcount reduction. ## What It Means for Sales Creative marketplace sales teams typically run high-touch enterprise for major accounts and product-led growth for SMB segments. AI tooling is replacing parts of both motions, particularly in content discovery and customer onboarding. The timing fits a broader pattern across tech sales: AI is not just changing what we sell, it is changing how many people we need to sell it. Salesforce, HubSpot, and dozens of other platforms are running similar plays. For ANZ sales professionals at creative tech companies: pay attention to AI roadmaps during interviews. If the product is becoming self-serve, ask what that means for quota structure and territory sizing. ## Context This follows broader tech layoffs hitting sales orgs globally. When AI becomes the pitch and the product simultaneously automates sales workflows, the math changes fast. Teams that were 600 become 400. Territories get redrawn. Comp plans reset. Envato's cuts are significant but not isolated. They are part of a shift where AI's impact on sales teams is moving from theoretical to structural.

Startup Daily
5 months ago
News

29 years of quota: what Battery's Bill Binch tracks that most CROs miss

Bill Binch spent 29 years on quota before becoming an Operating Partner at Battery Ventures. Employee number 16 at Marketo, then CRO at Pendo scaling to nearly $100M ARR in three years. 116 quarters carrying a number means he has seen every sales motion that works and plenty that do not. His metric framework starts with a question most companies cannot answer: what is the gap between your plan, your planned quota deployment, and your actual deployed quota? He gets calls from portfolio CROs saying they need more pipeline. First place he looks is quota deployment. Most of the time, the company planned for 10 AEs but only hired 7. The pipeline problem is actually a capacity problem. Three metrics every board deck should include, tracked monthly: company plan, planned quota deployed, actual quota deployed. When those numbers diverge, you know exactly where the miss is coming from before it shows up in the forecast. His "mojo metric" tracks six daily pipeline inputs: meetings set, meetings held, opportunities created, opportunities moved to next stage, win rate by stage, and average deal size. Not revolutionary metrics, but tracked daily, not monthly. When mojo is up, pipeline accelerates. When it drops, you see it in real time, not in the quarterly review. On forecast calls, he requires reps to start with three numbers in order: my quota is, my forecast is, my closed won is. Most reps lead with forecast, which lets the conversation drift from the actual target. When you anchor to quota first, the gap becomes visible immediately. Sales leaders get paid on quota, not forecast. The language should reflect that. Battery does not run a single playbook across its portfolio. What works for a $5M ARR company does not work at $50M. What works in enterprise does not work in mid-market. The job is pattern recognition, not prescription. One accidental experiment at Outreach: during COVID, they had remote reps and in-office reps selling into the same territories. The in-person team consistently outperformed. Not a culture statement, just a data point. Proximity still matters for some motions. Transition from CRO to Operating Partner is not a retirement plan. Different skill: moving from driving one revenue engine to advising twelve. You lose the authority of the role but keep the accountability to the outcomes. Phil Fernandez, his former CEO at Marketo, warned him: your hand was on the wheel, now you are a passenger. For operators looking to make the move: get comfortable being wrong in public, because you will advise companies into strategies that do not work. Build relationships before you need them. Understand that the best sales and marketing leaders present as one motion in board meetings, not two functions fighting for budget. Real operational rigor shows up in whether a company can explain its quota deployment gap, not whether it has a pretty dashboard.

Sales Hacker
5 months ago
News

Tech gender pay gaps surge: NextDC hits 45%, Canva 27%

Australia's tech sector has a pay equity problem, and it is getting worse. NextDC's gender pay gap more than doubled from 22.1% to 45% in FY24-25, according to new data from the Workplace Gender Equality Agency (WGEA). That makes it the highest gender pay gap among Australian-founded tech companies. The numbers tell the story: 28% of NextDC's workforce is women, but only 23% of top earners (average pay: $581,000) are women. In the lowest pay quartile (average: $86,000), 33% are women. Canva saw similar movement. Its gender pay gap jumped from 12.7% to 27.1%. Women make up 38% of the workforce but only 26% of the top earning quartile (average pay: $580,000). In the lowest quartile (average: $130,000), 55% are women. Canva's chief people officer, Jennie Rogerson, said the company pays men and women in the same roles equally, but the gap widened because most teams work in technical roles where women are underrepresented, and because the company's equity value increased, benefiting early employees who were predominantly male. AWS, Atlassian, and Xero also reported widening gaps, per the WGEA data. Worth noting for sales professionals: these figures cover total remuneration, including equity. If you are evaluating offers at high-growth tech companies, ask about gender representation in your role band and quartile. The data suggests women are underrepresented in top-earning positions across tech, which includes enterprise sales and account management roles. The base salary gap at NextDC actually improved slightly (20.4% to 18.3%), but total comp tells a different story. That spread matters when equity is a significant portion of OTE. For context: Australia's national gender pay gap is shrinking. Tech is the outlier.

Startup Daily
5 months ago
News

PlasmaLeap raises US$20m Series A, agritech sales hiring unclear

## PlasmaLeap raises US$20m Series A, agritech sales hiring unclear Sydney agritech startup PlasmaLeap Technologies closed a US$20 million (AU$28 million) Series A in January to scale zero-emissions fertiliser production tech. The round was co-led by Gates Foundation, Investible, and Yara Growth Ventures, with participation from Twynam, GrainCorp Ventures, Uniseed/UniSuper, Artesian, SVG Ventures, and Ravensdown's Agnition Ventures. Founded in 2019 as a University of Sydney spinout, PlasmaLeap builds modular reactors that produce ammonia and nitrate fertiliser using air, water, and renewable electricity. The pitch: farmers produce sustainable nitrogen fertiliser on-farm or at local hubs, cutting emissions, input costs, and supply chain dependency. The Series A will fund first-of-a-kind fertiliser hubs in NSW and Tasmania, expand field trials, and develop the core tech for sustainable fuels applications. ### What this means for agritech sales Typical Series A pattern: 2-3 early commercial hires become 8-12 as the company moves from pilot customers to scaled revenue. PlasmaLeap did not announce sales team expansion, comp structure, or go-to-market strategy in the raise announcement. Agritech sales roles typically sit between traditional enterprise SaaS and hardware sales. Long cycles (6-18 months for pilot to commercial), technical knowledge requirements, and relationship-heavy selling to agricultural cooperatives and large farms. Comp structures vary widely: some startups offer standard SaaS splits (50/50 or 60/40 base to variable), others skew heavily base-loaded due to deal timelines. For agritech AEs and SDRs watching this space: Series A usually means hiring within 6-9 months. Watch for Commercial Lead or Head of Sales roles first, then AE expansion. Base comp for agritech AEs in Australia typically runs AU$100k-140k with OTE AU$160k-220k, depending on deal size and cycle length. US agritech comp runs 20-30% higher but requires relocation or remote work across time zones. Worth noting: agritech sales roles often require domain knowledge or willingness to spend significant time in regional areas for customer meetings and demos. Not a remote-first vertical.

SmartCompany
5 months ago
News

Veyor closes $10.6M Series A, hiring US sales roles

## Veyor closes $10.6M Series A, hiring US sales roles Sydney construction logistics platform Veyor closed a $10.6M Series A led by Marbruck Investments, with participation from CoAct and existing backers Investible and SpringCapital. The round funds US expansion, including senior go-to-market hires. CEO Richard Fifita is relocating to the United States. Worth noting: this follows a $2.75M pre-Series A two years ago, and the company has been around since 2017. ### What Veyor Actually Does Veyor digitises construction site logistics and materials coordination. Think real-time delivery tracking and material flow management across contractors, suppliers, and operators. The pitch: Uber Eats for construction materials. The platform handles delivery scheduling, procurement, inventory, and warehouse management for complex construction projects. ### The US Numbers US revenue sits at 30% of total, across 60+ customers in 30+ states. The company expects North America to represent more than 50% of revenue within one to two years. Fifita called it "a step-change moment." Marbruck principal Prue Freestone cited "strong product-market fit in the US" and capital-efficient scaling as reasons for leading the round. ### What This Means for Sales Series A rounds typically translate to headcount expansion. Veyor is hiring senior go-to-market roles, US-focused. If you are selling into construction or have enterprise SaaS experience, this one is worth tracking. Construction tech has historically lagged other verticals in digital adoption, which means greenfield opportunity but also longer sales cycles and education-heavy deals. The sector runs on relationships and site-level credibility, not just product demos. No comp details disclosed yet. For context, Series A enterprise SaaS AE roles in Australia typically sit at $100k-$130k base, $160k-$220k OTE. US market rates run 20-40% higher depending on territory. Veyor has 60+ US customers already, which suggests product-market fit beyond pilot deals. That matters when evaluating early-stage sales roles: existing book of business beats greenfield every time.

Startup Daily
5 months ago
News

Veyor raises $10.5M Series A, hiring for US expansion at 150% growth

## Veyor raises $10.5M Series A, hiring for US expansion at 150% growth Construction logistics platform Veyor has closed a $10.5 million Series A at a $50-75 million valuation, led by Marbruck Investments with participation from CoAct, Investible, and SpringCapital. This follows a $2.75 million pre-Series A in 2024. The numbers: US revenue is growing at 150% year on year and now represents over 30% of total revenue. Veyor supports 60+ customers across 30+ US states and expects the US to exceed 50% of total revenue within 12 to 24 months. ### What Veyor sells Veyor builds operational software that digitises site logistics and materials coordination for construction projects. The platform replaces email chains and spreadsheets with a real-time system for tracking deliveries and material flows across contractors, suppliers, tenants, and operators. CEO Richard Fifita said the raise is a "step-change moment" as the company scales in the US market. "We've proven the model locally and built real momentum in the US, and now we're scaling with intent." ### What this means for sales teams Series A at this valuation typically means expansion hiring. Construction tech and logistics software sales roles are in demand as the company scales its US presence. Worth watching for: - **Construction tech sales roles**: Enterprise AE positions selling into general contractors, developers, and asset managers - **Logistics sales positions**: Roles focused on supply chain and materials coordination software - **Remote opportunities**: With 30+ US states already covered, expect distributed sales team growth - **Entry-level openings**: SDR and BDR roles to support the 150% growth trajectory Construction logistics software sales comp typically sits at $80-120k base for mid-market AEs, $140-200k OTE for enterprise roles, depending on deal size and territory. Remote positions in this vertical often include travel requirements for on-site demos. The ANZ construction tech sector has seen steady hiring despite broader construction industry volatility. Veyor's growth signals continued demand for digitisation in a sector still reliant on manual coordination.

SmartCompany
5 months ago
News

Eucalyptus $1.6B sale: payouts tied to multi-year targets, not closing

## The Deal Structure Eucalyptus, the Australian telehealth startup founded in 2019, sold to US-listed Hims & Hers for $1.6B. That is 10x the $111M in venture funding raised over four years. Last valuation: $520M in April 2023. The problem: payouts are tied to multi-year performance targets. Investors and employees holding options will not see full value at closing. The earnout structure means cash comes when revenue targets hit, not when the deal closes. ## What This Means for Shareholders Early employees with options: your payout depends on the company hitting targets under new ownership. That is years away, not months. Liquidity events matter, but earnouts add risk. Investors who backed Eucalyptus at the $520M valuation in 2023 will see returns, but the timeline stretches longer than a standard acquisition. ## Buyer Context Hims & Hers stock is down 64% over 12 months, including a 55% drop in the first two months of 2026. The company is fighting a legal battle with Novo Nordisk over GLP-1 weight loss drug sales. That is the market backdrop for this deal. Shares dropped another 8% after the Eucalyptus acquisition announcement. ## The Takeaway Headline valuations and actual payouts are different things. Earnout structures protect buyers and delay returns for sellers. If you are evaluating a startup offer with equity, ask about acquisition scenarios and earnout terms. The exit multiple matters less if the payout timeline stretches to 2029. Patient capital means patient returns. Factor that into comp decisions.

Startup Daily
5 months ago
News

Firmable raises $14m Series A, hiring sales team for US push

## Firmable raises $14m Series A, hiring sales team for US push Sydney AI sales platform Firmable closed a $14 million Series A led by Airtree. The round funds US expansion and a sales team build-out. Firmable consolidates prospecting data, buying signals, and sales automation into one platform. Founded in 2023 by former Aconex executives Leigh Jasper, Paul Perrett, and Karthik Venkatasubramanian. Now at 1,000+ customers including CBRE, Monday.com, and Canon across ANZ and APAC. The pitch: most sales intel platforms license the same third-party data, which skews US-centric and goes stale fast. Firmable built proprietary account data from scratch. Co-CEO Jasper says this matters because knowing when to reach out drives efficiency more than knowing who to reach out to. "We took the harder path, building our own data asset from the ground up, because we believe the compound advantage of owning the data layer is what actually makes AI agents useful rather than just fast at being wrong," Jasper said. Co-CEO Perrett says every sales leader they talk to complains their US-built tools don't work internationally. The data coverage is thin, the information is wrong, and the workflows assume American GTM motions. ## What this means for sales teams Firmable sits in the AI sales platform category alongside Apollo, Cognism, and ZoomInfo. The US expansion likely means AE and SDR hiring in the next 6-12 months. Series A at this stage usually means the team scales from 2-3 AEs to 8-12. For SDRs and AEs using multi-tool stacks (Salesforce + ZoomInfo + Outreach + whatever else), platforms like this promise consolidation. Whether that actually saves time or just shifts where you spend it depends on execution. The proprietary data angle matters if you work ANZ or APAC territories. Licensed data providers index heavily to US and UK markets. If your patch is Melbourne enterprise or Singapore mid-market, coverage and accuracy vary wildly. No word yet on pricing or how it compares to incumbents. Airtree previously led their $9 million raise in October 2023.

Startup Daily
5 months ago
News

Vinyl Group buys Val Morgan Digital for $10.5m, boosts revenue 70%

## Deal Structure Vinyl Group (ASX:VNL) bought Val Morgan Digital from Hoyts for $10.5 million: $7 million cash plus $3.5 million in Vinyl shares with 24-month escrow. Richard White's RealWise Holdings, which owns over a third of Vinyl, is providing up to $10 million in acquisition funding through existing shareholders. ## Revenue Impact Val Morgan Digital generated $10.7 million revenue in calendar 2025 and is expected to contribute $2.5 million in annualised EBITDA. That boosts Vinyl's revenue by more than 70%. The business publishes Fandom, PopSugar, BuzzFeed, Tasty, Vox Media, and LADbible under licence. ## Market Position Vinyl now claims digital audience reach comparable to Nine and News Corp Australia: 47% of Australians online in entertainment, 51% in news. That matters for ad sales teams pitching against traditional media. ## What It Means for Sales Teams Bigger inventory, consolidated sales operation. If you are selling into Vinyl's portfolio (Rolling Stone, Variety, Mediaweek, Concrete Playground, now Val Morgan), expect one pitch instead of two. The combined business reaches more eyeballs, which helps AEs justify bigger ad spends. Watch for quota adjustments as territories get redrawn. Veteran Hoyts CEO Damian Keogh joins Vinyl's board. Deal closes within a month, leaving Vinyl with around $3 million working capital. ## Portfolio Context Vinyl owns blockchain music startup Serenade, music database Jaxsta, musician network Vampr, trade pub Mediaweek, The Brag Media (Rolling Stone, Variety), and Concrete Playground (acquired late 2024 for $5 million). White backed the Rolling Stone acquisition with $11 million in 2023. Consolidation play: buy a rival, double the ad inventory, pitch the combined reach. Standard media M&A except it is happening in ANZ with actual numbers attached.

Startup Daily
5 months ago
News

Canva denies Leonardo AI layoffs, 150 staff reassigned internally

Canva says no jobs are being cut as it integrates Leonardo AI, the Sydney generative AI startup it acquired in 2024 for more than $320 million. The company is reassigning Leonardo's 150 North Sydney staff across Canva teams after operating the business separately for 18 months. Most will move into existing AI teams. A small group will continue working on Leonardo as a standalone product. Canva cofounder and COO Cliff Obrecht told Leonardo staff in a video call last week that while many roles would "directly map" to existing AI efforts, others should look at roles elsewhere in the business. The Australian reported this as potential job losses. Canva says that characterisation is inaccurate and no redundancies are planned. "We are not exploring any redundancies and no job losses were discussed or communicated to the team," a Canva spokesperson said. ## Why This Matters for Sales Teams The timing is worth noting. Block just cut 4,000 jobs (40% of workforce) citing AI. WiseTech Global cut 2,000 coding roles for the same reason. Both are major tech employers in ANZ. Canva's integration of Leonardo accelerates its AI roadmap, which could mean changes to how design tools are sold to enterprise customers. For AEs selling design or creative software, this is the consolidation pattern playing out across the category. The company has not announced hiring plans related to the integration. Canva's last major hiring push was mid-2024, adding enterprise AEs in Sydney and Melbourne. ## What Actually Happened Canva acquired Leonardo in 2024 to accelerate its AI capabilities. The deal valued Leonardo at more than $320 million. The business ran independently for 18 months. Now Canva is folding it into the main product. Staff are being reassigned, not made redundant. That distinction matters in a market where "AI-driven efficiency" has become code for layoffs. For now, Canva is holding the line on headcount while competitors are cutting.

Startup Daily
5 months ago
News

Canva says no redundancies planned as Leonardo.ai integration begins

Canva denied reports that it is cutting jobs as it integrates Leonardo.ai, the AI startup it acquired last year. *The Australian* reported that COO and co-founder Cliff Obrecht told Leonardo's 150 North Sydney staff that the business was being restructured. The report claimed some employees were encouraged to look at other roles in the business. A Canva spokesperson told *Startup Daily* the company is "not exploring any redundancies and no job losses were discussed or communicated to the team." They said *The Australian* did not contact them to verify the claims. What they did not say: whether the restructure itself is happening. Obrecht reportedly told staff that while many in the Leonardo team would "directly map" to existing AI efforts, others were encouraged to explore other roles. That language, "directly map," usually signals integration, not expansion. ## Context: Tech Integration Math When a tech company acquires another and says "no redundancies," it often means no forced exits, but voluntary attrition and role changes are on the table. The 150-person Leonardo team is being folded into Canva's existing AI roadmap. That typically means some roles overlap. Canva has been aggressive on AI since launching its Creative Operating System in October. Leonardo.ai brought advanced image and video generation capabilities. The question is whether Canva needs 150 people doing similar work to their existing AI team. ## What This Means If you are in sales at Canva or selling into design/AI companies: integration periods create uncertainty. Teams that were autonomous often lose decision-making power. Budgets get consolidated. Territory definitions shift. For candidates: Canva is still hiring across roles, but if you are interviewing for anything AI-related, ask how the Leonardo integration affects the team structure and roadmap. "Directly map" is code for "we are figuring it out."

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