Thursday, February 18th 2021 (3 months ago)
Last week, the CEO of Forecastr, Steven Plappert, had the pleasure of joining Mike Kelly on the Startup Competitors’ podcast. The team at Forecastr believes that our product will transform the startup scene, and we treasure the opportunity to share our story with the world.
What is Forecastr?
How can we help entrepreneurs achieve millions of dollars?
How good at finance are we, actually?
The Startup Competitors have all the answers in their episode The Power of a Really Good Product. Read on for the highlights.
In case you’re new around here, Forecastr is a subscription-based online software that builds financial models for founders, so they can optimize business decisions, impress investors, and get funded for the runway to success. Finance experts designed the vision and software masters built the product.
What makes us different? Forecastr offers a white-glove onboarding process to build each founder’s custom financial model. Even more, Forecastr provides support to founders and their financial models throughout their journey to ensure sustainable accuracy and long-term growth.
Founders need to deeply understand and maintain financial metrics to prevent running out of money. A Forecastr model engenders all the metrics that larger companies benefit from through a fractional CFO service at a fraction of the cost. Founders can project revenue and customer acquisition, budget future expenses, and calculate the length of their cash runway.
Forecastr provides a critical purpose to founders: getting funded. A lot of entrepreneurs are great at what they do, but they may not have the years of experience to build a comprehensive financial model in Excel. Early startups often can’t afford to pay a finance expert to do it for them. However, investors need to see these metrics, and founders need investors. Forecastr is the solution.
Forecastr will also offer data integration options like QuickBooks Online for a seamless transition toward stellar financial hygiene.
How are we doing? Forecastr began pre-sales in 2020 and now has roughly 100 pre-sale customers in February of 2021. The company has four co-founders: Steven Plappert (CEO) and Logan Burchett (COO) on the business side, plus Jonathan Frazier and Steven Ambs on the development side. Forecastr has also hired three full-time developers and two full-time startup financial analysts. As of February 2021, Forecastr has raised 950,000 in capital and expects to accelerate growth this year with a rapidly expanding team.
What’s our secret sauce? Forecastr’s software builds flexible, custom structures, which serve as templates to accommodate a huge variety of business models. Forecastr can scale through our white-glove onboarding and support process because the software enables highly customizable solutions on intelligent building blocks of technology. While different business models carry a plethora of metrics, the software capitalizes on financial inputs and does the math for you.
Forecastr currently exists almost independently in the market today, forging the path toward an Excel-free financial world.