July 17, 2020

Company Update - EOFY Edition

With Jock Lawrence

Welcome to the first-ever official Mobble company update  - if you're interested in how we at Mobble are evolving as a company these updates will give a summary of highlights, lowlights, learnings and where we need help.

Mobble 2.0 rollout - poised for growth 🐑

One year ago it became apparent that if we wanted Mobble to scale, our software would need to be rebuilt. Today, that rebuild is rolling out to farmers everywhere.

The Mobble 2.0 rollout is a huge milestone for our business, allowing us to go from market-validation to a product built for scale. Massive thanks to Jack Hurley, our CTO for guiding the team through this transition.

Mobble's ARR has grown 26% in the last QTR 📈

As we test our Go-To-Market strategy for Mobble 2.0, we have seen our ARR jump from $67,000 to +$90,000 in the last quarter. Giving us confidence, that our modelling for cashflow positive growth is now within reach. A shout out to Warwick Donaldson for helping us build the foundations of our growth engine with data.

Cashflow positive growth goal 🧷

COVID-19 has disrupted the vast majority of businesses in some way or form, and for us, it's no different. It has made us take a step back and focus on the bigger picture. During this process, we have gone through an identity crisis and redefined our goals. One of the realisations was that we are not ready for ultra growth - and what we need right now is sustainable growth to prove the robustness of our product, business model and go-to-market.

There will be a time to grow fast, but that's not today, so we've made the goal to become cashflow positive within three months. Big thanks to Simon from Reflive for helping us see the power of goal setting.

Defining our strengths and leveraging them 🎯

Taking the time to step back has made us realise that we have a superpower within one niche. We know that sheep farmers love our product. Instead of spreading ourselves thin, we have decided to double down on this vertical to become the most used farm management software for sheep farmers in Australia and New Zealand within a year.

Focusing on sheep farmers will allow us to grow faster (with less) and will enable us to expand into value-adding verticles later on (with confidence).

Acceptance into the Melbourne Accelerator Program (MAP) 🚀

Every year MAP invests in 10 of Australia’s most outstanding startups, equipping them with $20,000 equity-free funding, office space and access to Australia’s best business minds to help them grow. This year, we were lucky enough to be one of those start-ups and are so excited to be apart of the MAP community.

How can you help Mobble? - If you know a fantastic person in PR (or if that person is you) - we would love to get in contact for help with an upcoming Press Release. If you are an investor/farmer/friend, we are looking for investment in our current round of funding to ensure we get to our cashflow positive goal. (email: jock@mobble.io)

Thanks for your support,

Jock Lawrence (CEO & Co-founder)

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