ARR
€9.5m
+4.4% MoM · +86.3% since Nov 25
Company
Retrieval infrastructure for teams that cannot send data to a US API.
3.09x
ARR
€9.5m
+4.4% MoM · +86.3% since Nov 25
Net burn
€780k / mo
Implied cash €14m
Runway
18 mo
Outside the nine-month line
People
66
NRR 132% · GM 78%
info
Net revenue retention is 132% and usage, not seats, is doing the work. A US competitor has started quoting sovereign deployments in Frankfurt.
Suggested action. Use the €6m reserve to pre-empt a process if the founder will hold the round to existing investors through Q1. Do not wait for a bank book.
€m, monthly
€m per month
Monitoring note
Lumenstack is the cleanest compounder in the book. The product is in the path of production traffic, gross margin has held above 75%, and the European data-residency objection is still doing our selling for us. The risk is round timing, not the company.