FRONT — Series B deck (public copy). Transcription note: this is a cleaned OCR
transcript; slide statements are verbatim, UI-screenshot noise removed. The
company redacted ARR figures as "$xx" before publishing; bracketed notes mark
redactions and chart values lost to OCR. Do not treat "$xx" as a number.

Email was never built for teams to collaborate.
Productivity slowdown. Lost business. Bad customer experience.

So we built the first shared email client.

We rapidly broadened our value proposition:
Multi-channel. Individual yet collaborative. Integrated.
Shared Email -> Collaborative Communication.

2300 companies use Front today.
[customer logos include Shopify, LVMH, Meraki, HubSpot, Zesty, onefinestay, oasis]
Diversity of industries. Diversity of use-cases.

A very consistent growth of revenue. [ARR chart; values redacted by company]

Churn keeps trending down... [chart: gross churn, net MRR churn, logo churn
all trending down; numeric values lost to OCR]

...while usage grows exponentially. [chart: messages sent, individual email
users, comments & mentions]

Building a predictable sales organization (1/2):
Growing team. Delivering above capacity.
[charts Q1'17-Q3'17: fully ramped reps vs ramping; actual sales vs capacity]

Building a predictable sales organization (2/2):
ASP up every quarter. [chart Q2'16 through Q3'17]
More large deals. [chart Q3'14 through Q3'17]
Example customers in Transportation, Operations Management, Online Retail —
$xx ARR, xx seats each. [redacted]

Building a lead generation engine from scratch:
More marketing spend. On a sustainable trajectory.
Spend as % of revenue: 18%, 18%, 19% (Q1'17, Q2'17, Q3'17).
LTV / CAC: 2.5, 2.6, 4.4 (Q1'17, Q2'17, Q3'17).
Lead growth across unpaid and paid channels.
The sales team isn't one year old (members joined 2 weeks to 10 months ago).

Cohorts keep growing across all metrics:
All cohorts keep growing. ACV doubled in 15 months.
120% net retention rate at 6 months.
150% net retention rate at 1 year.

Usage intensifies over time:
3.9x more messages sent per user after 1 year.
4.9x more comments written per user after 1 year.

Team growth is built upon solid foundations:
Headcount evolution. [chart 3/1/15 through 11/1/17; bar values lost to OCR]
Highest Glassdoor metrics: 5.0 rating, 100% recommend to a friend,
100% approve of CEO, 17 ratings.
Low attrition: voluntary departures among those employed more than 3 months
[count lost to OCR, presented as near zero].

We have a track record of capital efficiency:
Seed to Series A: $3.1m raised, $xx spent, $xx ARR added. [redacted]
Series A to date: $10m raised, $xx spent, $xx ARR added. [redacted]
Cash on hand: $7m left. Runway: 18 months (assuming current spend and 0%
growth). "Default alive": profitable in 10 months (assuming no hiring and
5% monthly growth).

As a business, we are in a great position:
Aiming for $xx ARR by end of 2018. [target redacted]
Positive operating margin by end of 2019.
[charts 1/1/18 through 12/1/18: ARR, cash, gross margin, operating margin]

As a product, we are in a unique position:
Unreasonable stickiness: 2.5 hours per user per day; DAU/MAU ratio
[value garbled in OCR].
Access to critical data: messages, files, contacts, meetings.
Relevant across all teams.

Our two areas of focus for 2018:
1. Add more users to make our platform more valuable — maintain leadership on
   our core targets; become a great email client; ship products that expand
   our value proposition.
2. Improve our platform to make it easier to build on top of it — ship our
   new Extension API; extend our collaborative model beyond messaging; launch
   an app-store, host 3rd party apps.

Long-term vision: good email client -> shared email address -> collaborative
communication -> extensible platform. "We are here." [ARR milestones redacted]

Raising our Series B.