$1M to $100M in 20 Months, The Hard Part: How Everything Breaks in Hypergrowth with Deel's Co-Founder & CRO | Shuo Wang, Co-Founder & CRO @ Deel
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Moving fast is a competitive advantage for early-stage companies looking to provide value to clients. How can you balance this speed with scalable processes so that your team & clients are well-served? Shuo, Co-Founder at Deel, will explore this balancing act with first hand accounts of where Deel found success, and failure, while growing revenue from $4-54M in 2021, following 20x growth in 2020.
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$1M to $100M in 20 Months, The Hard Part: How Everything Breaks in Hypergrowth with Deel's Co-Founder & CRO | Shuo Wang, Co-Founder & CRO @ Deel
- 1. $1 to $100m in 20 Months The Hard Part: How Everything Breaks in Hypergrowth Shou Wang Co-Founder, CRO Deel @copernicussw 1
- 2. October 2021 $425 Series D 4,500 clients To $100 million 🚀 2 2019 Founded May 2020 $14M Series A 400 clients August 2020 $30M Series B April 2021 $156M Series C 1,800 clients December 2021 $50M ARR April 2022 $100M ARR 9,000+ clients 175+ countries
- 3. 3 October 2021 $425 Series D 4,500 clients 3 2019 Founded May 2020 $14M Series A 400 clients August 2020 $30M Series B April 2021 $156M Series C 1,800 clients December 2021 $50M ARR April 2022 $100M ARR 9,000+ clients 175+ countries Product pivot Ramped up AE hiring, did not scale rev ops Support team burnout, and subsequent delay in support response time Delivered product upgrades, but lagged on new features; slowed cross and up-sell opportunities Where things “broke”
- 4. Forecast first 🔮 Build R&D level-rigor into support forecasting Trust the process 🔁 Get comfortable with the unknown; you’ll test processes as you’re building them Use your data 💾 From paid ads to AE productivity, inform any decision you can with data Go global early 🌏 If you have global ambitions, think about early expansion 4 Strategy
- 5. 5 Leadership Grow your org thoughtfully 💪 Interview personally and define hiring values to build your team by Hear your team👂 Your talent is your most valuable asset and has feedback rooted in day-to-day reality, so be proactive about getting it
- 6. 6 Product & GTM Experiment & execute quickly ⏩ Be quick to try new things, and when something works, execute even faster Early support for sales 📈 Hire enablement & rev ops as soon as you find a sales function that works and is repeatable Make sure they love you 💙 Client churn is scary, but inevitable. If they love you, they’ll come back!
- 7. Lesson learned Revenue milestones are exciting, but come with unexpected challenges Key takeaway Manage scaling issues by using data to plan ahead & being team and customer-obsessed 7 Recap!
- 8. Questions? Comments? What did we miss? Visit us at booth 188!
Editor's Notes
- I’m Shuo In 2019, I co-founded Deel Today our platform is used by over 9,000 clients in 175+ countries to hire & manage employees globally. We’re building the infrastructure for delivering incredible employee experiences, from onboarding to offboarding. This includes hiring, payroll, benefits, and perks support. We were incredibly lucky to enter the market when we did in 2019, ahead of a digital-first & remote work revolution. Between that and an incredible team, most people would say we’re experiencing “hypergrowth”. This term can mean a lot of different things, but one tangible time frame is when we scaled from $1-$100ARR in less than 20 months. We’ve celebrated this number publicly, to ensure our team and clients that we’re working hard to build a great company. Today, we’re going to talk about something a little different, and that’s some unexpected challenges that came along the way. And we’ll have a Q&A after, so please stay and get more insight and/or tell us what we missed! We love to share lessons with fellow company builders.
- First things first, how what did getting to $100M look like? Here are some major milestones that we celebrated and / or got some public attention.
- But, the fun part. What didn’t we talk about as much aka, when did things break along this growth journey? And what did we learn while fixing our operations? Walk through a fex examples of where things broke. In this presentation, I’m going to walk you through my top lessons learned after navigating some of these breaking or tipping points. I know this is an audience of entrepreneurial folks, so, I tried to break tips out by function. Here are key takeaways bucketed by corporate strategy, leadership, and product & GTM.
- Up first, strategy. Generally speaking, this is where I parked tips on planning for expansion.