# Investor Update — April 2026

**From:** Mohit Aggarwal
**To:** Series B investors, board observers
**Period:** April 2026
**Generated:** 2026-05-06 14:45 BST

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## Summary

April was a strong month on product velocity and a mixed month on commercial traction. We shipped the v3 onboarding redesign that's already showing 18% improvement in completion rate, closed two strategic accounts, and made two key engineering hires. The mixed signal: pipeline coverage for Q2 is below target (1.4x vs 1.8x target), and we'll need to address this in the next 30 days.

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## Key Metrics

| Metric | March 2026 | April 2026 | Direction |
|---|---|---|---|
| MRR | £148k | £162k | ↑ 9.5% |
| Net new logos | 8 | 11 | ↑ 38% |
| Logo churn | 2 | 1 | ↓ |
| ARR | £1.78M | £1.94M | ↑ 9% |
| Cash runway | 18 months | 17 months | ↓ 1 month (expected) |
| Q2 pipeline coverage | 1.6x | 1.4x | ↓ — flag below |

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## Wins

**v3 Onboarding shipped (April 14).** The redesigned onboarding flow shipped on schedule. Early data shows completion rate up 18% (from 64% to 76%). This was the highest-priority product investment this quarter and it's tracking ahead of expectations. Full impact analysis available in the [shipped v3 doc].

**Two strategic accounts closed.** Acme Corp (£60k ARR) and Beta Industries (£45k ARR) closed mid-month. Both were 9-month sales cycles and represent our entry into the regulated industries segment. Acme has signalled they want to expand to enterprise tier in Q3.

**Engineering hiring momentum.** Closed two senior engineering hires (Staff backend, Senior frontend). Both joining in May. Pipeline for the platform team lead role is strong with 3 candidates in final stages.

**Customer satisfaction trending up.** NPS rose from 41 to 47. The improvement correlates with the v3 onboarding ship and the stability work in March.

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## Honest Challenges

**Q2 pipeline coverage below target.** Pipeline coverage for Q2 is currently 1.4x against a 1.8x target. Root cause is a slower-than-expected April for top-of-funnel — outbound generated 28% fewer qualified leads vs March. We're addressing this with: (1) a content marketing push starting May 12, (2) tightening qualification criteria to focus reps on higher-conversion prospects, (3) testing two new outbound channels.

**Engineering velocity dipped during onboarding ship.** As expected when the team was heads-down on a major release. Expecting velocity to recover in May now that the launch is behind us.

**One churn event.** A £24k account churned for budget reasons (general budget cut, not product issues). They've signalled they may return in 6 months.

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## Looking Ahead — May Focus

1. **Address Q2 pipeline gap.** Three specific initiatives launching in the first half of May.
2. **v3 onboarding optimisation.** Now that v3 is in market, optimising based on what we're seeing.
3. **Onboard the two new engineering hires.** Both start May 13.
4. **Begin enterprise tier work.** Two existing customers (Acme + one other) ready to expand. Need to scope what enterprise tier looks like.

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## Asks / Decisions Needed

**Customer intros:** Looking for warm intros to procurement leaders at any of these target accounts: [3 specific accounts listed in private appendix]. Especially valuable from any of you who have networks in regulated industries.

**Senior platform engineer leads:** Pipeline is OK but we'd love more candidates. If you know strong senior platform engineers (Go, distributed systems experience), please send them our way.

**Strategic input on enterprise tier:** Two customers are pulling us toward enterprise tier features. Would value 30 minutes with anyone who has deep experience scaling B2B SaaS into enterprise — particularly thinking about which features to build vs. which to delay.

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## Activity Reference Appendix

**Shipped in April (top items):**
- v3 Onboarding redesign (CHK-142, CHK-156, CHK-145)
- API rate limit increase for enterprise customers (API-89)
- SSO support for Okta and Azure AD (AUTH-34)
- Performance improvements: 35% faster dashboard load (PERF-22)
- 14 bug fixes (priority high)

**Recent docs (all in shared Drive):**
- v3 Onboarding Launch Retro
- Q2 Pipeline Recovery Plan
- Enterprise Tier Scoping Doc (draft)
- April Customer Health Review

**Upcoming in May:**
- Pipeline coverage recovery initiatives (3 launching)
- Enterprise tier scoping decisions
- Two engineering team starts (May 13)
- Customer advisory board meeting (May 24)

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*Generated by [PM Stakeholder Communications Agent](https://github.com/mohitagw15856/pm-claude-skills/tree/main/templates/pm-stakeholder-comms-agent)*

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> **A note on this draft:** This is the first draft from the agent. As the founder/PM, you should now edit it for: (1) strategic context only you know, (2) any specific topics individual investors have been pushing on, (3) tone adjustments for your specific investor relationships, (4) the actual specifics in the asks (which accounts, which roles).
