Hi everyone,
I hope you're doing well. Here's a quick Flamingo update since my last note.
Highlights
- Waitlist: OpenFrame waitlist has grown from 600 to 1,070+ MSPs.
- Early usage: Of 112 access codes issued so far:
- 82 MSPs signed up (~73% conversion from codes to accounts)
- 55 have deployed to at least one device
- 11 have deployed to more than 10 devices
- Launch week: The team gathered in Portugal to go out of stealth. PR results were "good, not great," but we're now seeing a steady ~100 new website visitors per day with zero ad spend.
Figma Design
- Demand generation: We're still accepting waitlist signups but are not actively spending on paid acquisition; focus is on converting and learning from the existing pipeline.
- Webinars & engagement: We've started running educational webinars with our MSPs; our first session had ~70 MSPs attending, and most stayed until the end, which is a strong signal of engagement and problem-solution fit.
- Fundraising timeline & targets: Planning to open our next round in late January / early February 2026, aiming to hit 80-100 MSPs with 100+ devices deployed and intent-to-buy levels that translate to roughly $1-3M in ARR by that time.
Product Rollout & Feedback Loops
We've shifted from "big launch" thinking to a cohort-based rollout that optimizes for learning and product quality:
- We're organizing access codes into cohorts aligned with our release plan:
- Provide access to a cohort
- Track deployment and performance
- Collect structured feedback
- Ship improvements and a new version
- Open the next cohort
- For each cohort, we:
- Create a dedicated Slack group inside our community to shorten feedback loops and keep communication tight.
- Expose our internal task management and roadmap publicly so partners can see what we're working on and what shipped:
This structure is already helping us move faster, close the loop with design partners, and prioritize based on real usage rather than hypothetical requirements.
Go-To-Market Signal
- The waitlist continues to grow organically, and the conversion funnel from access code → signup → device deployments is healthy for this stage.
- Our focus over the next cohorts is:
- Increasing the number of MSPs with 100+ devices deployed
- Deepening usage within existing accounts rather than chasing top-of-funnel vanity metrics
- Turning high-usage MSPs into early commercial commitments once pricing is locked.
Fundraising Plans
Our plan is to start fundraising at the end of January / early February 2026.
By that time, our goal is to have:
- 80-100 MSPs with 100+ devices deployed
- Clear intent to buy from those users, translating to roughly $1-3M in ARR at our target pricing (the range reflects ongoing pricing work).
Between now and then:
- We are not taking investor calls so the team can stay focused on execution.
- We would appreciate warm intros to investors you think are a strong fit for that timeframe; we'll be ready with a tight story and data once we open the round.
- Here's our current investment deck (work in progress, but shareable for context):
Figma Design
If you'd like a short blurb to forward along with the deck closer to that window, I'm happy to provide one.
Financials
- Net burn: Currently $80-85k per month.
- Runway: At our current plan, we have approximately 20 months of runway.
- We're pacing hiring against product milestones and are comfortable running through the planned fundraising window with room to optimize based on traction.
Near-Term Focus (Next 60 Days)
- Grow the number of MSPs with meaningful deployments (10+ and 100+ devices).
- Continue tight cohort-based launches with clear success criteria per wave.
- Finalize pricing and packaging based on real usage patterns and feedback.
- Turn our best-performing design partners into referenceable early customers ahead of the raise.
As always, thank you for the support, intros, and patience while we stay heads-down on product and raising.
LFG,
Michael 🦩
