RevenueCat
Simple API for managing in-app subscriptions
The total MRR of the developers using RevenueCat is our north star metric. Cross $1M was a huge achievement considering we were at $6k when we got into YC in April.
In reality the round was closed at the end of August, right around Demo Day.
Miguel and I debated a lot over the summer if and how much to raise before demo day. Venture capital is an incredible tool for accelerating your company's trajectory, but it comes with really high expectations.
If your company isn't going to be able to create or transform a multi-billion dollar market, you are going to have a hard time on the venture route.
Miguel and I both believe that RevenueCat has at least a shot at doing that, so we decided to take on venture capital.
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A seed round is most valuable when it gives a company the resources to deepen an already-validated product rather than forcing growth before the fundamentals are ready. For developer-focused businesses, adoption and retention can be particularly strong signals because they show whether the product is becoming part of customers' workflows. The interesting part after a raise is how effectively the team converts that early traction into a durable business.
Integrations allow you to use RevenueCat to send your mobile subscription data to anywhere it needs to go.
YC was an insane experience for Miguel and myself. The advice and the network really helped us to launch, sell, and prove that initial traction.
With the help of a few other YC companies as early customers, we were able to go into Demo Day strong.
In June, during the YC batch we came out of private beta. PH pushed about 2k page views and about 30 signups.
One thing I did was contact the 15 or so apps that were using RevenueCat before we launched and asked/nagged them to write a review on PH. This was great. It looks really good to see all our happy users in one place.
After submitting the best application we could and doing about 20 mock interviews, we were accepted into YC.
We got super lucky with the first app to hit the App Store using RevenueCat. Design+Code is an excellent resource for developers and designers.
They found us via one of my blog posts and contacted me on December 31st. 3 weeks later, we tracked our very first production transaction.
At the time the RevenueCat charged 3.5% of tracked revenue. Pretty aggressive. :)
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