The Merger Playbook: Crossbeam's CEO on Executing a Successful Deal

• Crossbeam at $10M ARR, 5.9x burn multiple — unsustainable.
  • Rival Reveal split the customer network, killing value for both.
  • Top customer feedback from both sides: “please integrate the networks.”
• 101-day close: term sheet Jan 18 → signed Jun 25.
  • 70/30 equity split (Crossbeam/Reveal) anchored to ARR ratio + network size.
• Four core values, in priority: customer experience, one company, frontload pain, future focus.
• Migrated all 10,000+ Reveal customers to Crossbeam platform — not a codebase merge.
  • Called it “crossboarding,” not migration; white-glove CS + automation.
  • Churn held flat at 14%; NRR jumped from ~90% to 105% in one year.
• Leadership split by division, each managing execs from the other company.
  • Moore: product/eng/marketing. Bouchez (ex-Reveal CEO): sales/CS/partnerships.
  • Replaced most C-suite 4 months in — ZIRP-era leaders didn’t fit new reality.
• Year-one results: ARR hit $25M vs $20M target; burn multiple 5.9x → 1.1x.
  • ARR per FTE doubled; employee NPS +20 points (from +8 to +28).

Bob Moore, Co-founder & CEO of Crossbeam (merged with Reveal) · 2025-12-02 · Read on review.firstround.com