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Thanks for taking the time to share your thoughts on the company and for being a Pantheor for the past several years. We take all feedback seriously, and we appreciate the opportunity to address the items you've raised.
Leadership. We all have different views of how we see these subjectively, but for us, one of the ways we can objectively measure the effectiveness of our leaders and teams is by our success. And on that measure, we’re winning. Our Rule of 40 is up 30 points in the past 3 quarters. We’ve doubled sales and marketing productivity over the past year. We’re on track to meeting or beating our Q1 sales targets. Deals over 100k this quarter, which we’re only about ½ way through, are already 45% higher than for the full quarter (Q1’23) a year ago. And our engineering team is consistently hitting their development commitments. Will every hire be awesome and hit it out of the park or will every decision we make be perfect? Of course not. But will we take quick action to fix this and course correct if that does happen? Absolutely.
Morale. Pantheon has some really, really good momentum, and it’s just too bad that you’re not here not to experience and see it first hand, because times have changed! But don’t take our word for it. Here’s what Pantheors said after our quarterly all hands meeting two weeks ago:
Today’s meeting “...gave me goosebumps. It was the best presentation I have seen and I am so excited for the future!”
“I was literally blown away by the All Hands (meeting) today! This is such a moment of bliss.”
“It’s fun to see this taking off!”
“Lots of big energy on the All Hands (meeting)!!”
Our Board agrees that we’re delivering results. Last week they said “Love to see the energy, focus, and execution.”
No quote carriers close to target. We’re super confident you’d be excited if you were here today, and our sales team is both expanding and well positioned for success.. We’ve been expanding our sales team with some amazing new hires joining us from companies like Salesforce, Workiva, Adobe, Emplify, Sitecore, Boomi, SuccessFactors, ZoomInfo, DocuSign, LinkedIn, Guru, and more … and that’s just in the past 2 months. We’ve even had multiple former Pantheor sales standouts come back to be a part of the success.
People leaving the business. Quarter on quarter RIFs, First, every company has resignations, and you literally could say this about any company on any day. Second, with regards to layoffs, yes, we had those just like the rest of the SaaS industry, and it was unfortunate. But that was quarters ago, that chapter is closed, and we’re bucking the trend in the rest of the industry. In just the past 2 weeks DocuSign, Zoom, Amazon, Okta, Zuora, PayPal, Salesforce, Microsoft, HubSpot, SAP, and Google all had layoffs. In fact, more than 30,000 tech jobs were cut in January. This is not Pantheon, and we are proud of that.
Product innovation. This is another case where we wish you were here today to see the innovation and excitement that our product and dev teams are delivering. While we can’t discuss the details here as it would give away our competitive advantages, we are confident that we’re both improving our product and customer experience.
We are grateful for your contributions to Pantheon and regret that your experience did not meet your expectations. We wish you all the best in your future endeavors, and we wish you were here to share the excitement we’re seeing here every day.