Hi everyone,
Happy new year! Here's an update on Flamingo since my last note in November.
Highlights
- Q4 roadmap complete: We shipped everything we set out to build in Q4 and released the first autonomous IT agent built on a pure open-source backbone.
- MSP traction: We've provided access to 282 MSPs. Of those, 203 have tested the product and 57 have stated clear intent to buy once we go live.
- ARR signal: Current MSP traction reflects $600K-$1.2M in ARR at our target pricing.
- Q1 goal: 80 MSPs with intent-to-buy commitments by end of Q1 - we believe we'll surpass this and hit 100.
- Monetization: We're preparing to start charging with 2-3 core modules in the product, with more MSPs onboarding to increase ACV and overall revenue.
AI-First Operations
We've gone all-in on AI agents internally:
- Built and deployed: Fully autonomous AI agents for product management and content marketing.
- Currently building: AI agents for revenue, people, and due diligence management.
- Team tooling: Our entire team has moved to Claude Code for development.
This approach is helping us move faster with a leaner team.
Fundraising: $6M Round
We've completed our preparation for our next funding round. All materials are ready:
- 📁 Investment Materials: View Here
- 💡 Deck Direct Figma Link: View Here
- DD Resources: We've completed 6 recorded case studies and 10 recorded customer interviews - all available during due diligence through our internal DD management tool.
Figma Design
Timeline:
| Dates | Plan |
|---|---|
| Feb 16 - Mar 1 | Intro Zoom calls - Book a call |
| Mar 1 - Mar 7 | NYC in-person meetings |
| Mar 7 - Mar 14 | SF in-person meetings |
Attached here is a forwardable blurb, narrative, and roast questions. I'd be grateful for investor intros - happy to make it easy for you to forward along. Feel free to share the blurb, please be more cautious with the deck.
Financials
- Net burn: $100-115K per month (up from $80-85K due to GCP credits expiring and new hires)
- Cash in bank: $1.2M
- Runway: ~10 months at current burn
We're comfortable with this runway given our fundraising timeline.
Near-Term Focus (Next 60 Days)
- Convert intent-to-buy MSPs into paying customers with initial modules
- Hit 80-100 MSPs with strong commercial commitment
- Execute fundraise (intros → NYC → SF)
- Continue shipping AI agents across internal operations
As always, thank you for the support and intros. We're heads-down and ready to go.
LFG,
Michael 🦩
PS recent MSP feedback on our Slack community: OpenMSP
