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  "documentTitle": "Not Boring Capital Fund I Update I Q2 2021 Newsletter",
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  "presentationDate": "2021-01-01 00:00:00",
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  "notes": "The slide uses a line chart to benchmark the company's growth against established public SaaS companies.",
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      "kind": "chart",
      "text": "Growth trajectory of Slack, ServiceNow, Twilio, Shopify, Coupa, Cornerstone, Blackline, and MainStreet.",
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      "text": "Source: CapIQ, internal sources and company announcements. Note: Use quarterly revenue times four as a proxy for ARR. Note: Assuming it takes 24 months from founding to $1M if do not have actual data.",
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      "text": "MainStreet and Ramp are pacing ahead of Slack’s revenue growth, and Scale actually achieved the $100M mark faster than anyone other than Slack (beating out Twilio and Shopify).",
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      "kind": "paragraph",
      "text": "Of course, private funding rounds are not liquidity events, but valuations are anchored on real prices. As I wrote about in Dreams All the Way Up, it feels like early-stage valuations are based on a probability...",
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      "kind": "paragraph",
      "text": "Higher Ceilings. So the businesses themselves are getting bigger faster, and from a valuation perspective, there’s more room to run to the upside. In late June, CB Insights released its latest Unicorn Market Map...",
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      "text": "Years from $1M to $100M ARR",
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