He Raised $3m at a $25m valuation, is that overpriced or just right?

Erling Linde, CEO of CV Partner, discusses the company's journey from its founding in 2012 with no revenue to reaching a $5.5 million run rate in 2023. Erling shares insights into their growth strategy, including a $3 million seed round raised at a valuation between $20 million and $30 million. CV Partner specializes in helping professional service firms streamline the creation of proposals by adding case studies, team member profiles, and resumés efficiently. The company now serves over 400 customers, with a strong presence in the Nordic region and expansion plans into North America. With a team of 40, including 12 engineers, CV Partner is well-positioned for further growth. Erling also talks about the challenges of bootstrapping for 10 years, the decision to raise outside capital, and the company's plans for future scaling.
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Timestamps:

0:00 - Introduction and Overview of CV Partner
1:00 - What is CV Partner and Who Are Its Clients?
3:00 - How CV Partner Helps Professional Service Firms Win Work
4:45 - Pricing Model and Customer Segments
6:00 - Early Challenges and First Customer Acquisition
7:00 - Current Customer Base and Revenue Growth
8:30 - Growth Channels and Geographic Expansion
10:00 - Decision to Raise $3 Million in Seed Funding
12:00 - Discussion on Valuation and Equity
13:00 - North American Expansion and New Office in Toronto
14:30 - Competition and Potential Partnerships
16:00 - Team Structure and Engineering Focus
17:00 - Personal Insights and Future Plans

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By the numbers.
See charts and graphs here: https://getlatka.com/companies/cv-par...

Founded in 2012.
$3m Total funding.
$5.5m in revenue in 2024.
$1m in revenue in 2017.
400 customers.
40 employees.
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