This document discusses Commerce Sync, a SaaS company that automates bookkeeping for small businesses. It notes that Commerce Sync closed a $2.55 million Series A funding round in 2015-2016 and has grown its recurring revenue 291% from June 2015 to June 2016 by serving over 10,000 small-to-medium sized businesses. The document also highlights that small business owners spend too much time (over 300 hours per year) and money (over $1,000 per year on average) on back-office tasks like bookkeeping and accounting. Commerce Sync aims to simplify this process through automated bookkeeping that integrates with point-of-sale systems and requires less than one hour of work per month.

1. Simplifying small business

2. Executive Summary
© 2016 LucaLogix, Inc.
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Commerce Sync is a SaaS
company that automates
bookkeeping for small business
We closed a $2.55 million
Series A in August and
November 2015
We serve 10,000 SMBs and grew
recurring revenue 291% from
June 2015 to June 2016
We distribute through the largest
and fastest growing channels in
payments and commerce

3. The Real Life Of A Small Business
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Evokes images of this…

4. The Real Life Of A Small Business
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…but actually involves lots of this

5. The Numbers
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40% of small business owners say
bookkeeping and taxes is the worst
part of owning a business
40% 300hours per year
A typical small business owner spends
300 hours per year on bookkeeping
and accounting
>$1,000
A typical small business owner spends
>$1,000 per year in administrative fees
(3 in 10 spend >$10,000 per year)
Spent in administrative fees
of small business owners
Spent on back-
office work
%
The reality for a small business owner is time spent and money wasted on despised tasks:

6. Monumental Relief For Small Business Owners
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Gather
receipts…
…Key enter data
Review, correct, edit,
reconcile…
…Upload to
accounting
software
Cross fingers
and hope it is
right…
… and repeat: daily,
weekly, monthly?!
Step 2:
Connect using
accounting credentials,
configure (optional)
Step 3:
Complete, accurate
and fully automated
bookkeeping
The Old Way
>20 hours , every month
The Commerce Sync Way
Less than 1 hour , forever
Step 1:
Activate from POS
ü Accurate Data
ü Time Savings
ü Business Visibility

7. A Large “Niche” Market
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There are 3.4 million storefront businesses in the U.S., most using standalone point-of-sale (POS) and
accounting software
Cloud technology is disrupting the POS and accounting software industries, fueling growth. This is particularly
true among SMBs
• POS units will grow 87% by 2020, driven by the adoption of 25 million tablet POS systems
• Small business accounting software (QuickBooks and Xero) will grow 169% by 2020
Small business owners are embracing software
• 85% of owners will invest more in software in the next 5 years
• 81% say it is important that the software solutions they use work seamlessly together (today, most do not)
• Millennials are the next generation of small business; 67% of business owners expect to retire within 10 years
Our Secret: Bookkeeping automation is driven by scalable technology, complemented by contextual awareness
• There are 1.7 million bookkeepers in the U.S. performing manual data entry
• The accounting services industry generates >$54 billion annually, excluding the Big Four
• Effective automation requires complex, “application aware” technology; not a simple integration
Sources: Intuit, Xero, Street Fight Insights, Bureau of Labor Statistics, Statista, Aite, Paychex

8. What Sets Us Apart?
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1. Efficient distribution (The greatest challenge in selling to SMBs)
• Tightly coupled relationships with large channels allows us to leverage their sales efforts
• Low cost of customer acquisition, yields LTV : CAC > 3
2. Highly valued product
• Major (not incremental) improvement for SMBs, addressing a genuine pain point
• Customers are happy to pay for the service ($250-500/year)
3. Unique, defensible position
• Channel relationships are typically exclusive or near-exclusive
• Proof points of channel renewal (Authorize.net), replacement (Square) and expansion (Visa)
“We were able to save three hours a day,
allowing us to focus on customers and build a
community business.”
– Little Jenna’s Grooming, South Riding, VA
“Commerce Sync not only saves time, but
we save money by not having to hire a
bookkeeper to help with data entry.”
– Green Envy Garden & Gifts, Albany, GA
There are three keys to our success:

9. Our Customers Love Us
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“I love the reliability and time savings offered by
Commerce Sync. I can see the transfers happening
and rely on it happening every day!”
Angela Milano, Pitman, NJ
Second Chance Retail (Acquired via Clover)
“Our accounting had become a nightmare
before Commerce Sync, but now we use the
time we save to focus on running a
successful business.”
Lisa Maggio, Boulder Creek, CA
Central Avenue Paper & Print (Acquired via Square)
“Commerce Sync has saved us many, many
hours of manual entry. Customer support
has been great!”
Scott Carden, Spartanburg, SC
Banana Box Market (Acquired via Clover)

10. We Are Growing Rapidly
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Commerce Sync Recurring Revenue
$57,358 $56,308
$82,265
$145,446
$183,095
$211,631
Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16

11. We Have Generated More Than Just MRR
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Q1 25 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16
Recurring Revenue $57,358 $56,308 $82,265 $145,446 $183,095 $211,631
One Time Revenue $70,000 $170,000 $8,000 $17,578 $280,410 $61,262
Total Revenue $127,358 $226,308 $90,265 $163,024 $463,505 $272,893
Sources of one time revenue:
Recurring revenue is our focus, but we have generated a substantial amount of one-time revenue from
related partners to help build our business

12. We Achieve A Lot With A Little
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Developed the best automated
bookkeeping product for SMBs in the
market
Opened and developed key distribution
channels, including Clover (First Data),
Square, Stripe, Visa, NCR and iPayment
In a little over a year with less than $2 million, we:
Grew recurring revenue 291% to
$74,000 in June 2016
Generated more than $1.3 million in
total Commerce Sync revenue
Handled more than 60 million small
business sales records, eliminating
thousands of hours of manual data entry