# NOQX Financial Model B2B SaaS platform combining OKR/goal-setting with team collaboration and daily task management. - Canonical: https://finamodel.com/startups/noqx - Excel download: https://finamodel.com/startup-models/noqx.xlsx - Category: Enterprise/Security - Model type: SaaS ARR / Valuation - Funding round: Pre-seed - Funding: $200K - Founded: 2024 - Geography: Nordics initially, with explicit US expansion in the roadmap (targeting by Dec 2024). [DECK, slide 15] - Customer: B2B ## About the company NOQX combines OKR and goal-setting software with team collaboration and daily task management. It gives B2B teams a way to connect longer-term objectives with the everyday work required to deliver them. The company sells a recurring annual subscription priced per user. Its commercial opportunity is straightforward seat expansion: a customer can begin with an initial team and add users as the goal-management workflow becomes embedded across the organisation. The model uses a seat-based ARR cohort build. New accounts, initial users, seat expansion, pricing, renewals, and churn drive revenue, while self-serve and sales-assisted acquisition costs, product support, gross margin, headcount, and cash runway show the operating plan. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## Product & value proposition NOQX is a web-based SaaS platform that connects company-level OKR/goals to team goals and individual daily to-dos in a single UI. Key differentiators per deck: - Goal setting + collaboration + to-do in one tool ("a goal tool marrying a collaboration tool") - AI assistant for goal progress summaries and executive readouts - Emphasis on UX simplicity vs. incumbent HR/performance platforms - OKR framework, documents/note-taking, scoreboard, integrations, Kanban, Strategy Space on roadmap through Q3 2024 ## Market - OKR Software Market: USD 923.31M in 2022 → projected USD 2,588.9M by 2030; CAGR 13.76% from 2024–2030. - No SAM or SOM figures provided. - Problem market context: 70% of companies fail to achieve their goals; 90% of organizations fail to execute their strategies (Deloitte 2023 / IntelliBridge 2022). ## Revenue model - Seat-based annual SaaS subscription, two tiers: - Core: $100 per user/year - limited boards and teams - Professional: $150 per user/year - unlimited - Sales motion: outbound (cold calling, social selling, email marketing) + inbound (SEO, partnerships) + product-led (sign-up, digital onboarding) - Target customer: mid-market, 50–500 employees, starting in Nordics - Renewal cycle implied at month 9 from onboarding timeline - No free tier, freemium, or trial pricing mentioned. ## Traction & metrics - 95% of target audience (from customer interviews) identifies goal-setting as a major challenge. - 100 target customer interviews completed. - "First Paid Customer" shown as a future milestone on the May 2023–Dec 2024 timeline - deck was produced before first revenue. - Target of 70 paying customers by Dec 2024. - No ARR, MRR, churn rate, or NPS figures from real customers in deck. - Onboarding outcome stats cited from Harvard Business Review (not company-specific): 125% lower burnout, 35% more committed, 21% more effective leaders, 46% higher job satisfaction, 16% better employee performance. ## Unit economics - Blended ARPU implied: $100–$150 per user/year depending on tier mix. - For a 150-employee company (the persona "CEO Cecile"), potential contract value: $15,000–$22,500/year at full seat penetration. ## Competition / moat - Deck positions NOQX at the intersection of three categories: goal/OKR platforms (complex, HR-procured, low employee engagement), knowledge/collaboration tools (engineer-heavy setup), and collaboration platforms (missing strategic alignment). - No named competitors called out explicitly. - Moat claims: unique UX, AI integration, simplicity, and employee-centric design. ## Team & funding ask / use of funds - Sophie Hedestad, CEO - decade in B2B SaaS commercial roles (up to CMO); built OKR programmes at prior employer. - Robert Zetterqvist, CTO - 10+ years senior developer; 4 years at Klarna. - Matilda Lundsten, Head of UX - UX designer focused on user-centred design. - 2 developers onboarded (May 2023 milestone). - Use of funds: Not explicitly stated; roadmap and milestone timeline (recruiting commercial, entering US) imply GTM and product build spend. --- ## Recommended financial model - **Archetype + why:** SaaS ARR model with seat-based cohort build. Revenue is 100% recurring subscription (per user/year), sold to B2B accounts, with expansion potential within accounts as headcount or seat adoption grows. Classic SaaS ARR/MRR model is the right fit. - **Forecast horizon & granularity:** Monthly for Year 1–2 (pre-revenue ramp needs monthly visibility on cohorts and cash burn); quarterly summary for Year 3. Horizon: 3 years (2024–2026). - **Key drivers & assumptions:** | Driver | Value | | -- | -- | | Core price | $100 per user/year | | Professional price | $150 per user/year | | Tier mix (Core / Pro) | 60% / 40% | | Blended ARPU per user/year | ~$120 | | Avg seats per account | 75 users | | Avg ACV per new account | ~$9,000 | | New logos - Year 1 | 10 | | New logos - Year 2 | 35 | | New logos - Year 3 | 60 | | Gross revenue churn (annual) | 10% | | Net expansion within accounts | 0% Year 1, 5% Year 2+ | | Gross margin | 75% | | S&M as % of revenue | 60% Year 1, 45% Year 2, 35% Year 3 | | R&D (headcount + infra) | 2 devs + CTO; ~$300K/year Year 1 | | G&A | ~$150K/year Year 1 (3-person founding team) | | Nordics launch → US entry | Q1 2025 per roadmap milestone | - **Scenarios (Base / Bull / Bear):** - **Base:** Reaches 70 paying customers by end of 2024 as targeted; blended ARPU $120; 10% gross churn. - **Bull:** Faster US entry, higher seat penetration per account (100 seats avg), Professional tier dominates (70%), lower churn (6%). - **Bear:** First paid customer delayed by 2 quarters; 20% gross churn; ACV pressure forces discounting to $80/user; stays Nordics-only in Year 1–2. - **Required sheets / outputs:** 1. Assumptions dashboard (all drivers in one place, colour-coded inputs) 2. ARR waterfall (new ARR, expansion, churn, net new ARR by month) 3. Customer cohort table (logo count by cohort, seat count, ACV, churn) 4. P&L - Revenue → Gross Profit → EBITDA (monthly Year 1–2, quarterly Year 3) 5. Headcount plan (founders + devs + commercial hires) 6. Cash burn & runway (monthly) 7. Scenario toggle (Base / Bull / Bear) 8. KPI summary: ARR, customers, ARPU, gross margin %, burn rate, runway months ## Frequently asked questions ### Is the NOQX financial model free? Yes. The NOQX model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.