← SaaS Interviews with CEOs, Startups, Founders
SaaS Interviews with CEOs, Startups, Founders
From $450K to $9M ARR in 5 Years: Club Caddie's Vertical SaaS Playbook
00:28:02
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- [00:00]
A
Back in 2020, what were you at in terms of revenue?
- [00:03]
B
Our revenue was only 450,000 in 2019.
- [00:06]
A
Going from half a million of revenue to 9 million of revenue in five years is pretty darn impressive.
- [00:10]
B
Ended up selling Club Caddy 2 Constellation in 2020. CSI is the largest acquirer of vertical market software companies in the world. On average, we look for about an average of 15,000 ARPU per unit.
- [00:21]
A
Fast forward to today. How many customers are paying you today to use the software?
- [00:24]
B
600 and growing by about 25 every month.
- [00:27]
A
$15,000 plus ARPU or ACB target. You just told me times the 600 custom shared. That would put you at about a $9 million an ARR today. What have been the top like one or two growth channels for you?
- [00:38]
B
You know, we've just gotten better as.
- [00:39]
A
All right, folks, I'm here today with Jason Pearsall. He's the founder and CEO of Club Caddy, a leading golf course management and software company. He's a lifelong entrepreneur and golf course owner operator. He blends this technology data and real world golf operations to help the facilities grow their revenue, improve efficiency and deliver exceptional golfer experiences across the country. Jason, you ready to take us to the top?
- [01:00]
B
Yeah, Nathan, thanks for having me.
- [01:01]
A
The margin profile on running a golf course versus the software for the golf course are very different.
- [01:06]
B
They can be.
- [01:07]
A
Yeah.
- [01:08]
B
I. I mean, I.
- [01:09]
A
Yes. For you, which came first? As we get some of your backstory here. Were you an owner operator first or did you build the software, then buy a golf course?
- [01:17]
B
Yeah, that's an interesting backstory. So my father was a country club general manager. I worked at a golf course my entire life. After college, got involved in early stage startup, we had an exit and I bought a golf course. Then in operating our golf course, recognized that there wasn't a SaaS solution that was designed to handle a club. You know, like we had purchased and started. Started building a SaaS solution in 2015 that became club Caddy and is Club Caddy today.
- [01:46]
A
That's great. Okay, so before we get the full backstory, I don't want to bury the lead. Can you tell us sort of what's the average price point customers are paying you today and what are they paying? What's the software delivered to them?
- [01:57]
B
Yeah, so it's an entire ERP system for golf courses which would include obviously things like point of sale and inventory and employee management, but also tee time reservations and membership management and their mobile apps and websites and web apps and everything associated with everything it takes to, you know, Run and manage a golf course. So that's what we build. Golf courses vary, right. Some golf courses may have four restaurants and two bars and six different properties. And some golf courses might have nine holes and a snack bar and one counter. And so the profile on a golf course could range somewhere between a couple thousand dollars and tens of thousands of dollars a year in sas, depending on the scope of the services that they use.
- [02:40]
A
Okay, okay. Would you say if I was going to force you to into like an average, would you say your typical customers, like in that four to six thousand.
- [02:46]
B
Dollars per year price range, they're higher than that. And so on average, we look for about an average of 15,000 ARPU per unit.
- [02:55]
A
Yeah. Per year. And which of these I've got your screen, your website shared. Right now I have your products all listed here. Which one's your best seller?
- [03:03]
B
Well, you can't just use one without the other. Right. And so each of these products exist into a single app. And so it's one app with all of these that we just turn on in the back end for them to work together. And so if you're going to book a golf outing at a golf course that's going to include food and beverage elements, scheduling out rooms so that you know that room's not double booked, it's going to include accounting GL codes that have to be hit. And so the complexity of a golf course is that it's many small businesses and one that all have to operate and communicate together under a single customer profile.
- [03:36]
A
And take me back to the year you launched the business and how you got your first couple of customers. Obviously you were your first customer, but besides you, how did you get your second and third?
- [03:45]
B
Yeah.
- [03:47]
When you build vertical market software, it helps when you are already connected that industry. Right. So I owned a golf course. I had other golf course owners and operators who are within my network and you know, we bounce and trade ideas and I would talk to them about their pain points and their, you know, their difficulties. I ended up a couple of general managers that were early users of my software eventually became the early employees of Club Caddy. And so, you know, it started off through conversations and really understanding what the pain points were that other golf courses that we wanted to service were going through. And then once we had a pretty understanding of our own pain points and also validation and learning other ones that other golf courses were going through, it gave us, you know, endless opportunity to build product, to solve.
- [04:33]
A
It.
- [04:35]
Was there early on in those initial years, in the 2017, 28 time frame. Was there a lot of other competition or. I mean, it sounds like you used some of the competitors, There were things you didn't like, so you built your own. What were some of the things you didn't like?
- [04:47]
B
Yeah, look, when we went into it, there's a lot of competition. People want to build golf software. And so when we went into it, there were mature solutions for full clubs. Not just like a golf course with a point of sale and a T sheet, but needing, you know, events and weddings and restaurants and dining reservations and all kinds of other other apps as well. There were mature solutions that were server based. There were the first wave of cloud solutions that were not yet mature in their depth. And that was our vision, was we need to stand out, we've got to be different than everybody else. And so we need to build the first mature cloud solution that services a full club. And so, you know, if because there was competition, we couldn't just jump in and, you know, really distinguish ourselves just by building where our competitors were. So we carved out our niche, figured out where we thought the market was underserved and focused on that.
- [05:41]
A
Interesting. And you could also say, look, the reason our own golf course is doing so well is because we use our software.
- [05:46]
B
Right.
- [05:46]
A
If you want to perform well, you use our software as well. We're building learnings into the platform.
- [05:51]
B
Yeah, look at, I mean, it certainly helps, but I, I don't think that somebody's as persuaded as, like, I use this at my golf course. So you should too. You'll make more money. Like, I mean, it's too easy to cook the books on like a case study. Right. So the real validation comes from, you know, golf courses. We have no relationship with having that same success and then being able to demonstrate that that is a formula we can repeat elsewhere.
- [06:13]
A
So that was the first year or two. Fast forward to today. How many customers are paying you today to use the software?
- [06:20]
B
600 and growing by about 25 every month.
- [06:22]
A
Oh, wow. And are those all US based or is it all around the world?
- [06:25]
B
To clarify, in the golf industry, you typically will only make a software transition during the winter or during your off season. So this time of year we're growing around 25amonth. In the summer, those numbers are much smaller. And sorry, your follow up question, Nathan.
- [06:38]
A
Yeah, no, follow up question is are you geographically bound to just the US or is it worldwide?
- [06:42]
B
We currently service Canada. It's a new market that we entered last year, still a little bit more of a limited scale. Conversion rates aren't entirely favorable for SaaS companies. And so when you have pent up demand, the most valuable dollars are coming from the U.S. and so, you know, it doesn't make sense to take on Canadian clients. And we have a backlog of US clients trying to get onto our SaaS platform. Eventually, you know, we'll tap our market and probably start focusing more on international. But from a maturity standpoint, we still got a long way to go before we've penetrated our ICP base.
- [07:18]
A
And Jason, can I take the $15,000 plus ARPU or ACB target you just told me times the 600 customers you just shared, that would put you at about a $9 million an ARR today. Is it accurate?
- [07:29]
B
Yeah, pretty close. A little over that. Okay, very. You're familiar with obviously deferred revenue and so you know we have more clients.
- [07:36]
A
Yeah.
- [07:36]
B
Anyways, it's pretty close growing though.
- [07:40]
A
Yeah, that's great. That's great. So, so now that we know 600 customers, 9 million of revenue, have you bootstrapped this from scratch or did you raise a bunch of capital?
- [07:49]
B
Tried to, almost went broke doing it. Ultimately 2015-2019, friends and family covered it myself and we got to a certain, a certain level where we needed, you know, more significant investment to handle the opportunity. And so we signed a 50 course multi course operator. Then they were called Brown Golf. Now they've merged and they've become Great Life Golf. And we didn't have the infrastructure to, you know, go across the country and implement all of these over a week or two. And they need custom development that exceeded, you know, then a fairly small dev team and so had raised and gotten committed. I think it was like 300,000 short of my Series A. It started off with a $600,000 seed round that I funded a good portion of, then went to raise a two and a half million dollar Series A had raised about 2.2. Um, and an organization called Constellation Software out of Canada, you know, approached us about an acquisition and you know, happy to tell that story, but ended up selling Club Caddy to constellation in 2020. They hired me and I worked for them today.
- [09:01]
A
Oh, interesting. Okay, so I didn't, I didn't pick up on that. So we know Constellation actually like very, very well. We've interviewed many CEOs that now work for them. So you're part of obviously that larger organization. Let me go back to before they acquired you just to be clear. That acquisition happened you said in 2016, 2017.
- [09:17]
B
2020.
- [09:19]
A
It was in 2020. Okay. You said that you almost I think I heard you right. You said you almost went bankrupt in 2015, 2016. Did you ever think about shutting the business down?
- [09:27]
B
No, it was no 2019 and it wasn't almost going bankrupt. It was just like I was having more go out than I could afford to go out for a extended period of time. And I knew that if, you know, we didn't either raise capital or figure out a long term solution that eventually that would be where we were headed. But we weren't like close to shutting down the doors. I was just maybe dramatizing that. We didn't, I, I couldn't afford to support the business by myself or continue to bootstrap the business by myself.
- [09:54]
A
Okay, fair enough. But so before that you just raised the 600k seed yourself and the 2.1 or 2.2 million from other folks. That's all you raised before the CSI acquisition?
- [10:03]
B
I only raised 600k before the CSI acquisition. We raised a 600k seed round. That got us to about 2019. In 2019, I started fundraising, a Series A and spent about 15 months getting check commitments and almost had the round close. And then Constellation came into the picture.
- [10:21]
A
Oh, I see. Okay, tell me that story. Because a lot of founders, when they're thinking about just their capital, like their story, their capital stack, they go, man, today, right now I'm raising capital. But what a lot of folks don't realize is if you're going to do a data room and do all the work already, you might as well talk to buyers and equity investors and hit them against each other to get what you want. As the founder. Is that what happened here? And if not, tell us what did happen with csi? Why'd you sell them?
- [10:44]
B
So CSI is the, for especially people who may not have the background, is the largest acquirer of vertical market software companies in the world. They own 2,000 other brands and labels like Club Caddy. They're all, you know, either top or, you know, one or two in this specific vertical that they service. So hospitals, legal hotels, you know, yacht clubs, every vertical needs software.
- [11:10]
Constellation Software is the market leader in private club software. Globally they have 55% market share. And they had one of those legacy solutions that, you know, I would mention. There were mature server based solutions, there were immature cloud based solutions and we were the first full club based management software that was cloud based. And so there were really good synergies for together one plus one could equal three because we had the next generation product and they had the majority of the market share. And so, you know, it, because the deal was structured right. We set it up so that we both won off of that opportunity of it just made more sense. And there, there was the possibility at least for more upside, you know, by selling to csi.
- [11:56]
A
And you know most, most of the deals CSI does, you know the, the knock on that there is a knock is founders will say they close really fast but they're not paying premium. Right. So in around that time period you mentioned around 9 million, 10 million revenue today, back in 2020, what were you at in terms of revenue?
- [12:14]
B
Yeah, our revenue was only 450,000 in 2019, so.
- [12:18]
A
Oh wow. Okay.
- [12:19]
B
Yep. And the.
- [12:25]
CSI does a lot of deals, right? There's 2,000 companies and some of those have worked out really well for founders and some of those haven't worked out well for founders. And it all depends on your position. Right. A company that CSI is likely to buy as a company that has gone through a growth period, started to decline, the founders are getting tired and likely best practices for running the business for an install is there's opportunity to come and run the business more efficiently and increase earnings and regrow that company with new energy and new investment. Our situation was a little bit different. We are the earliest stage company the Constellations ever acquired. They only acquired us based off of the synergies between they were the market leader in golf. They needed a solution like ours and we had it. And so I have the longest earn out in CSI history. You know, we, I don't want to get too far into the details but I'm incentivized for the long term success of the business and you know, well into 2000s we'll, we'll be getting my ROI on on the sale to CSI.
- [13:24]
A
That's fair enough. Okay. Are you comfortable sharing just the cash component at close? Was it like 40, 50% of the deal price or what's that look like?
- [13:33]
B
It was a fraction of the deal price. It was make everybody whole plus some especially the early stage investors. And the majority of the consideration would be structured around the long term earn out of the company.
- [13:46]
A
Okay. So if I'm reading between lines again, you can only say so much. So I'm trying to be respectful of what you can and can't share. But you're doing about half a million of ARR in 2019. You raised 600k up to that point. CSI was a great home for you because they had old software. You were the new sexy shiny object. You had what they wanted, smallest deal they've done. But again you had the Tech plus, they wanted you, you know, they did enough upfront cash to effectively make the 600k you'd already raised whole, but then incentivize you to stick around long term to grow this thing, which you have, it's grown from half a million to 9 million of revenue over the past 5, 5 years. Is all that about accurate?
- [14:17]
B
Yeah. Ultimately they gave the investors and a lot of the investors the opportunity to continue to participate in the upside of the earn out or be bought out and you know, a nice ROI on the short term investment they had made in. The majority of the investors said, like we want to, you know, we're going along for the ride. And so they didn't have to pay a ton, but they had to commit a good chunk of revenue for a long period of time to get the technology.
- [14:38]
A
And what were you thinking in 2019? I mean, you had good momentum on the Series A 2.1 and committed checks. You ultimately took a deal which, look, I don't know what it was, but you know, CSI rarely pays above 1.2x on a deal. Maybe, obviously if you stay for 10 years you can get extra juice, but it wasn't a flashy multiple that you sold for. So why exit? Why not stay, stay yourself and, you know, keep building.
- [15:00]
B
I was tired. And what I mean by tired is not like I wanted to, I didn't want to grind for the company. I wasn't sleeping because I had staff to pay. I was running around spending time with investors and not in the operations of my business and the business was doing well and I didn't think we had good processes and I wasn't involved in the, you know, in solving those problems because I was more worried about going to beg people for checks and, you know, playing that game. And I'd played it for 15 months and I wanted, and I built this business to operate, to grow the business, to work in my vertical, to work with golf course operators and solve their problems. That wasn't what I was doing at all. And so ultimately, you know, including the VCs, the early VCs that did put in some money, participate in our angel rounds. Really lucky. Another story to participate in. But anyways, like, we looked at what the possibility of the earnout was and it was, it is very significant. And ultimately, you know, the numbers made sense to us and, you know, we just thought this was the best path.
- [16:05]
A
Yeah, Constellation guys is a publicly traded company so you can go look at their earnings calls to see the numbers. But it's incredible. I'm going off memory here, but I'm pretty sure they spit off a billion dollars of free cash flow last year. So it is again, it's a massive, massive holding company of thousands of software companies. Jason, let's shift the focus here to the growth story post close because going from half million of revenue to 9 million of revenue in five years is pretty darn impressive. In a niche, what have been the top, like one or two growth channels for you?
- [16:31]
B
Look, we only have two. We service golf courses, and it's very clear who our buyers are. I can tell you at every golf course who runs that golf course, who the golf professional is, what software they're using when their contracts up. And so when you have a very small niche, it's all about data, and it's all about knowing how to action the data. And so, you know, we're very intentional about approaching golf courses that have high signals that they're going to be making a transition. Same with multicourse operators. It's been another fuel of our growth is that there's been a lot of consolidation where we can win one deal and win 100 accounts, where in the past, you know, you haven't been able to do that. Your, you know, one, one multicourse operator represents 100 golf courses. So we've won a couple of those and then, you know, we've just gotten better at selling. But that other element is a big part of it is just investment in product. I mean, there's significant investment into product that's enabled us to build a superior solution. And when you have, you know.
- [17:32]
When you have likely the best technology for the customer in the vertical, you know, you kind of get out of your own way and just let the technology work.
- [17:42]
A
Mm.
- [17:42]
B
Yeah.
- [17:43]
A
I mean, Jason, there's a lot of, though really good products that are best in the market that nobody ever hears about. So they never win like you're winning. So you really have to have both. I'm going to try and push you here to actually jump into, like some concrete tactics. Right around that acquisition date, your domain rating spiked. It looks like there's a real effort around SEO right around that acquisition date. If so, is that true and to what degrees SEO important for club caddy's growth?
- [18:05]
B
Yeah, look, of course it's true. And that was just one of the elements of the SEO wasn't a priority when we didn't have the capital as an early stage business to invest in SEO. And we recognize that SEO investments take time to get an ROI on. And so we couldn't make decisions that were 18 months into the future that sometimes you have to be able to make just. We weren't funded to do that. Right. And so yeah, certainly a priority that was the case and now the focus is aeo, but definitely a priority.
- [18:36]
A
And one of the things you have built into your product is it looks like when you launch the software to your customers, they're hosting it. It looks like on a sub domain which naturally builds your backlinking sort of strategy, which is like what we see here. Was that intentional or is that just a function of how the product works?
- [18:51]
B
A little bit of both, honestly. So each of those could be like a different chunk of locations. They may be on a certain part of the region, a country and we'd route a server to that part of the country for faster performance. It could be a multi course operator who wants, wants their own individual datab. It doesn't want their customer shared with somebody else. It could be a government or park entity that needs the same. So there's, there's both factors that go into it, both practical and intentional.
- [19:16]
A
Interesting. Okay, are there any other like practical tactics like this that you've used? So SEO is one. Are you doing any, for example paid ads or anything like that?
- [19:23]
B
Yeah, of course. Yeah.
- [19:25]
A
So look, tell me more about how you're using paid to scale.
- [19:28]
B
I mean to grow a SaaS company. Each of these are one channel and you need to have dozens of channels and at any point only a couple of those channels are going to be successful and you just got to continue to try new ones to add that couple to become more and more. But I mean we go to trade shows. We call every golf course in the country. We try to touch in and physically visit every golf course in a certain cadence. Every year we invest in AEO marketing.
- [19:50]
A
Who's doing that though? Jason. Right, so like how big is the team today? And do you have AES that are responsible for making X amount of phone calls to touch all those golf courses each year? How does that, how's that structured?
- [19:59]
B
Yeah, the entire BDR team. BDRs are, I don't know, have quotas. They've got a. We touch every golf course.
- [20:06]
A different contact point within that golf course too. It's not always the one person that you reach out that makes the decisions that tells you no. So it's important to go wide and deep in the organization. And so yeah, we've got, you know, full resources within, within our, within our team to, to manage each of these both inbound and outbound.
- [20:27]
A
And on the paid side Is that mostly happening on Facebook or where are you spending paid dollars?
- [20:31]
B
No, primarily Google. Just pay per click on Google. We also invest in review websites like Capterra and G2 and where our customers are going to find out where the best solution is. We want to be promoted there. And so we ultimately, I think the best thing that you can do as a vertical market software company is put yourself in your buyer's shoes. How is your buyer going to shop? What are all the different ways that your buyer is going to come across software? Is it going to be mouth to mouth and you know, basically, or word of mouth rather. And the golf course next door recommending something? If so, you should have a recommendation program set up and be loud and clear about why you want advocates and what they get out of it. That's one channel. Is it going to be, you know, a trade show? Does somebody only communicate in person to somebody? You know, all of these are just different buyer profiles. And we try to go after every single one and every opportunity at a golf course. Especially when you only have a limited number of golf courses. Like for us, there's 15,000 golf courses in North America. 7,8000 are within our ICP. You know, ultimately three to four contacts per golf course. There's 35,000 people that we need to get in contact with multiple times a year with strategy, time and resources. That's not a challenge to do.
- [21:45]
A
That makes a lot of sense. Yeah. So to summarize here, these are the 33 growth tactics I hear most commonly when I interview CEOs. And you know, we're 3,800 interviews in, so we see these over and over. Just to summarize ones that you're using, it sounds like really. Well, as you obviously you mentioned review sites down here. Right. So kind of Cap Capter, G2, you mentioned programmatic, obviously SEO, which we just talked about. You mentioned account based marketing. Right. You built the target list that you just described and you also mentioned Google, Google Ads right down in this, this area. Anything else on this screen that you, you're using working really well for you. Are you guys pursuing inorganic growth via acquisitions?
- [22:16]
B
Always, yeah. I mean it's part of the CSI model and definitely we are and we just. It's not something that, that I really measure because that's measured, you know, amongst our M and A team and we look for synergies across the group. The big one is automated engine optimization. So we intentionally are making investments to make sure when somebody ask chat GBT what the best golf management software is, they're finding us. Right. And so that, that is different than SEO. Yeah.
- [22:44]
A
And so I mean, tell me how you do that. A lot of people say no one actually knows how this algorithm here actually works. But you're saying you have a general idea and it can be optimized.
- [22:53]
B
Yeah. So ultimately, look, I mean you, you do know it does give you the answers, right? So it tells you right there that Captera is a huge source of it. It tells you then best country club management software. So you'll go to these sites and you'll look at where is AEO searching. But more importantly, golf course, every product can be found by answer engines if they have a schema. Not sure if you're familiar with schema but in the, I think it was late 90s beginning of web domains there was something called schema.org, and they basically said we need to have a common set of structured data so we understand how to interpret a website. This is what AEO looks for is schema. And so you know, when we've invested in optimizing schema and going out and where GPT is looking for sources trying to be relevant and at the top of those places so that you know you're found in those, in those results, it's an ongoing effort.
- [23:49]
A
Would you say it's an advantage or disadvantage? So something like this, right. Capterra obviously is a property you do not own. Right. So you can pay to play there. Some of your competitors like lightspeed they actually own and they're ranking like they're as a direct source, a source of truth in the aem. And then I don't know what zealous is, but how do you think about building your own and operated sort of source of truth for an AU optimization perspective versus the pay to play models like Capterra?
- [24:13]
B
I mean I think you have to do both. It's just like trying to rely on a single channel and hoping that it's going to be effective. The most effective will be the combination of all of those. I think we also get a little bit more intentional and so we're going to say like you know, search, semi private golf course software. Something that's, you know, where we're trying to understand ourselves and those are the keywords that we focus on. So it's not just like let's go at the top of the funnel on keywords, it's trying to be strategic of what are the keywords that my ICP is searching for and making sure that I'm number one there and not just Everywhere.
- [24:45]
A
And before we wrap, just to put a cap on chat GPT, do you have a sense of how much traffic it's driven you over the past year or past month?
- [24:51]
B
I don't. I know that we have now added within HubSpot. It is the lead source and origin source and there's been a couple dozen this year that have come in through it. But you know, we just started tracking it within the last six, seven months.
- [25:04]
A
All right, well, cool. Jason, you've also launched a new project. You're getting, you're still doing software, but tell us about the new project where you're getting your hands dirty on a new course.
- [25:13]
B
Yeah.
- [25:15]
I had the opportunity to take on a long term lease of a Donald Ross golf course that was purchased by a municipality and ultimately had been.
- [25:26]
Abandoned is not the right word, but it was run into the ground. Right. And so the golf course was dead. It wasn't open for a season. All the greens had died, everything was overgrown. It hadn't been. There was a lot of deferred maintenance and hadn't been maintained in a couple of decades. And so I took on a long term lease for a golf course called Warren Valley in 2022 and we did a complete restoration of the facility, tea to green all new car pass, all new greens, all new tee boxes. I mean every complete bunker restoration in the original bunker or the original Donald Ross design. And then we had documented the whole story. So about a month ago we launched this, this channel called Golf Follies and you know, really goes through the whole story of that restoration.
- [26:13]
A
And is the media platform you're building here? Are you getting leads from Instagram as a driving customers?
- [26:18]
B
Can't believe it. It's been incredible. Like we thought we'd build, we'd get this story out and build up, hype for it and benefit from in the spring. We rolled it out in October, the end of October, and all throughout November, every single day we had golfers coming in asking about the Instagram page or mentioning the Instagram page. So cannot believe how much success we've had with it.
- [26:38]
A
I mean, obviously I'm, I'm sort of like pushing for like little mini viral hooks here, but I mean, can you quantify the dollar value of golfers that Instagram has brought you from this page?
- [26:47]
B
I mean if every day is, let's say four to eight golfers and every foursomes 250.
- [26:52]
A
Right.
- [26:52]
B
So I mean you're looking at thousands of dollars a week and this is wild. Minimal effort in 45 days of work. And honestly, we've had a lot of fun doing it. So it's not. It hasn't even been. It's been the most fun marketing campaign I've ever done.
- [27:05]
A
I love that. All right, Jason, let's wrap up here with some rapid fire questions. Number one, how old are you?
- [27:09]
B
I'm 41.
- [27:11]
A
41. Okay. Something you wish you knew back when you were 20 years old.
- [27:15]
B
Enjoy the journey. I always wanted the outcome to get to where we're at, you know, now. And truthfully, like, the days are easier now, but they're not as fulfilling and they're not as fun.
- [27:25]
A
Guys, there you have it. Launch Club caddy back in 2015. Did a seed round of 600,000 bucks. Scaled about half a million bucks of ARR in 2019 before selling to CSI Constellation in 2020. Wasn't a massive exit, but the long term earn out the potential was really there. So he's still there now, building the company's now doing about 9 million bucks of revenue servicing hundreds of golf courses around the country. He's continuing to scale and now obviously is restoring one of his own golf courses he's got a long term lease on and documenting it to drive property. So he's got his hands in the weeds. He's not just a software guy with no golf experience. It's in his family. Jason, thank you for taking us to the top.
- [28:00]
B
Appreciate you, Nathan. Thank you.