CEO Quarterly Update
CEO Quarterly Letter
Internal Only • Sunshine Co
Team,
Q1 was the quarter where a lot of things we've been building toward finally came together. I want to take a few minutes to reflect on where we are, be honest about what's working and what isn't, and share where we're headed.
+34% YoY
Net new
+8 pts
We ended Q1 with substantial momentum, adding our first five 6-figure enterprise deals. Our team grew to 206 people across Portland, San Francisco, and 14 remote locations.
But the number I'm most proud of is our NPS jump. That's a direct reflection of the work Sam's infrastructure team and Ava's customer success team did to make the product more reliable and the support experience more human.
Enterprise traction is real
SOC 2 certification and API maturation unlocked a whole new category of customer. Our average enterprise deal is now $136K ACV with a pipeline of $2.1M.
Workflows is a platform play
Retention for accounts using Workflows is 97% vs 91% overall. This feature turns Sunshine Co from a tool into a core platform.
Culture holds
We grew by 30 people and our engagement survey remains at 84% favorable—a testament to our People team and managers.
Mobile is behind schedule
Targeting late June for GA. The app needs more polish, and I'd rather ship it right than ship it fast.
Mid-market gap
The 50-200 seat range remains a gap in our playbook. Dana and I are working to refine this motion for Q2.
Every decision we make runs through one filter: are we making work tools people actually enjoy using? If it makes the experience better for our users, we do it. If it doesn't, we question it hard.
Thank you for the work you do every day. Q1 was great. Q2 will be better.
— Maya
For board & investors only
Not included in the all-hands distribution.
Fundraise: Term sheet received for $42M at $380M post. Targeting close by April 30.
Cash: $12.4M on hand, $890K monthly burn. 14 months runway (post-close ~36m).
Risks: Mobile delay impact on Q3 enterprise pipeline; ISO 27001 timeline monitoring.
This communication is for Sunshine Co employees only. Please do not forward or distribute external to the company.
Sunshine Co • 123 Pine St • Portland, OR
