◇ Investor relations
A 200× revenue multiple on a $0 revenue base.
Split the Bit is the most capital-efficient way to convert venture dollars into press releases. Our metrics are unverifiable, in a good way.
Capitalization
Investors of record.
| Investor | Round | Check | Status |
|---|---|---|---|
| Veridian Capital | Series F (lead) | $310M | Wired |
| Several Family Offices | Series E | $120M | Mostly wired |
| Anonymous SPV | Series D-2 | $72M | Tax-advantaged |
| A YC Partner | Pre-seed | $125k | Romantic |
| The CEO's mother | Friends & family | $2k | Sentimental |
| A pension fund (allegedly) | Crossover | $45M | Cooling off |
KPIs
Our key performance indicators.
Each metric below was true at the moment we wrote it. We make no representations about the present moment.
ARR (theoretical)
42,000,000$
±50% per observation
NRR
142%
±20% per observation
Burn multiple
0.6
±40% per observation
Headcount
142
±50% per observation
Customers (logos)
87
±30% per observation
Customers (paying)
6
±50% per observation
LTV / CAC
11.4
±50% per observation
Days of runway
1,450
±30% per observation
* All KPIs are non-GAAP, non-IFRS, and non-falsifiable.
Thesis
Why now.
Classical computers have plateaued. The S-curve has become an L-shape, then a colon, then briefly a semicolon.
Capital is searching for stories that cannot be diligenced because they are too far ahead of conventional metrics. We are perfectly positioned in that gap.
Founders who can credibly use the word 'qubit' in a podcast appearance are increasingly scarce. We have three of them.
Public markets reward narrative density. Our narrative density is the highest in the sector, by our own internal benchmarks.