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Hey this is where I’ve worked for the last 4 years. Hands down the best company I’ve ever worked for.
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It's built on Salesforce. They serve mostly mid-size regional banks. It's honestly super cheap for what it is -- its no wonder they're gaining as much traction as they are.
I'd never consider this until I could self-host. Way too much regulatory "scaries" when dealing with money. Remember that admin permission clearing command accidentally committed in Production last year that killed hundreds of SFDC orgs last year? What I'd do to listen to that bridge call..
Oh! Can you provide more pointers, please? A quick search doesn't seem to be showing anything worth useful on this item.
It's very rare to find humble low profile founders who just want to build businesses that make money. Ticks off most of my Warren Buffett filters.
So what I'm curious about is this: It might be true that there is a long tail of industries that remains to be eaten by software, but do we expect the software in those industries to be as scalable as it has been in "tech"?
The Co-founder/CEO holds only 1.6% of the common shares!?
My only disappointment: they have a fancy name. Always love it when under-the-radar enterprise companies have ultra boring names, there was a missed opportunity here to call themselves "eBank Technologies" or "Transfer Networks" or something equally mundane.
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I'd never consider this until I could self-host. Way too much regulatory "scaries" when dealing with money. Remember that admin permission clearing command accidentally committed in Production last year that killed hundreds of SFDC orgs last year? What I'd do to listen to that bridge call..
> Remember that admin permission clearing command accidentally committed in Production last year that killed hundreds of SFDC orgs last year? Oh! Can you provide more pointers, please? A quick search doesn't seem to be showing anything worth useful on this item.
There's some discussion in this thread about the less-sexy corners of the market that are getting eaten by software. What I'm wondering about is whether these corners yield the incredible levels of profitability that we've seen in the past from the tech industry. In other words, with something like Facebook, once the basic product was operational, every additional million of users came with negligible acquisition cos…
PS revenues: 2018 20,094 2019 27,076 ~35% 2020 34,915 ~27%
While subscription revenues almost double every year since 2018. This is also highlighted in their risk factors.
What this indicates is that the deployment of such software still needs significant human touch.
Based on the services revenues and the sales expenses, I am hazarding a guess that nCino is a high touch businesses requiring significant sales professionals.
Which is why, it is key to understand customer retention in such businesses. From what I see, they have a 147% subscription revenue retention rate. That might be a proxy to customer retention but I'll try to get their actual customer retention numbers to be on the safer side.
Overall, yes this is no Facebook or Google. The risk section of S1 is very good and the founders are pretty candid about what the investors are up for.
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I don't know why and when you decided to go to the dark side of ruining HN with unsubstantive political comments and flamebait, after something like a decade of being the leading HN user arguing against it, but it's really dismaying and we need you to stop. Please stop. https://news.ycombinator.com/newsguidelines.html
Maybe it's because this isn't actually political flamebait and you simply misevaluated the intent and effects of this post.
They are super loss making, which is unusual for a tech provider (and that too, running on Salesforce). Is this because of the Salesforce tax ?
I've never heard of financial software that didn't suffer from this, so it will be interesting to see if they manage to eventually streamline it.