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Pitch Deck Teardown: BusRight's $7M Series A deck
- 1. Software that runs our nation’s largest mass transit system, school buses.
- 2. Selling to schools suck, but we sell to Transportation Directors. Selling to Schools Selling to Transportation Directors Sales cycle Decision makers G2M 12-18 months 2.5 months 5+ 1-2 Outbound Inbound
- 3. Meet our customer, Derek. Transportation Director at Community School District Manages $5.7M/yr (~10% of the district’s budget). communicates with 5k+ parents daily. Former school bus driver for 15 years. Transports 2.7k students with 40 drivers.
- 4. 13,000 “Derek’s” in the U.S. control $29B of annual spend, with primary control of their budget.
- 5. Problem: This system is buckling. Problems... Which result in... Skyrocketing costs Boston Schools $600k/yr transp. call center $400k per electric bus (4x regular bus) Parents paid to drive their kids to school Operational meltdown 50%+ of school bus seats empty Staff hired to operate on-prem software Directors, teachers are driving now Driver shortage Demanding parents Route complexity
- 6. Transportation Director Driver Parent Converting months of routing into days Ensuring a student is never missed & always arriving on time Eliminating calls & increasing peace of mind Solution: Modernizing student transportation with BusRight. “Our district is shocked at how amazing BusRight is, we don’t know how we functioned without it.” - Keri, Parma School District
- 7. Traction: Growing 7.6x YoY. Bookings ($) ARR ($) 2020 $X 2021 $X 2022 $X $X 100% of bookings convert to ARR 111% Net Revenue Retention 1.3% ARR churn since company inception We serve X customers across 20 states.
- 8. Short sales cycles, no RFPs, high ROI. 70% 4x 2.5 month 7x Inbound Sales Efficiency Sales Cycle Conferences 70% ARR from referrals & website $X ARR booked / mo / AE From 1st demo to signed contract $1 → $7 ARR from conferences 2.7 year Contract Length Customers prefer 3 yr contracts
- 9. We’ve increased pricing 3x since 2020 2020 2021 2022 Q4 2022 $X $X $X $20,578 $X $49,611 Subscription per bus per year, with X% gross margins. BusRight ASP
- 10. “Like I said the first time I ran the tablet, this is better than a margarita on the beach on a hot day. Best thing since I started driving 38 years ago.” Shonia, Transportation Director for Kimberly Schools & President of the Idaho Association of Pupil Transportation “BusRight is a best practice that all districts should aspire to. Calls and complaints are down 50% this year.” Mike, Assistant Superintendent for North Reading Schools “My terribly anxious son with Autism is soothed and relieved being able to see where the bus is. So helpful!” Carol, Parent in Katchoo, ME Transportation Directors, Drivers, and Parents all love BusRight.
- 11. Our customers get reimbursed to purchase BusRight. of BusRight’s cost is reimbursed by several states of ESSER funds of annual transportation state aid in New York alone $190B $1.8B 50-90%
- 12. Projections: $X of CARR by 2024. Bookings ($) ARR ($) 2020 2021 2022 2023 2024 $X $X $X $X $X $X $M $M $M $M $M $M $M $M $M $0 Finding PMF (Actuals) Scaling PMF (Projections) Growth Product Team $X → $X CARR X → X customers Advanced routing Dynamic navigation 2 Account Executives 7 others across engineering, design, & customer success $X $X
- 13. BusRight's team members consist of both talented technologists and experienced industry practitioners. Co-Founder & CEO Co-Founder & CPO Keith Corso Phil Dunn Fmr. Tech Dir. for Broward Schools, 6th largest U.S. district Allocated $100M+ of K12 technology spend annually Applied Math at Cornell, Quantitative Methodology at Columbia, and Law at Seton Hall University. Founding Team Met with 500+ Transportation Directors in the past 5 yrs Presented to 750+ Transportation Directors at school bus conferences in the U.S. Fmr. investor at MassMutual Ventures