The CVF Journal
Field notes on capital efficiency, the EBITCAC framework, and the economics of non-dilutive growth for Series A/B SaaS startups.

Churn Rate - How to Calculate, Analyze, and Reduce Customer Attrition
Calculate churn with cohort-based rates and launch a proactive retention plan within 30 days. Map subscribers by signup month, tracking payment events across key touchpoints, and classify churn into…
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Pricing a Product in 2025 - How to Maintain Profit Without Losing It
Pricing starts with value-based tiers and a per-user model, validated by real-world feedback to ensure the outcomes customers receive justify the price. Deploy three targeted bands–Starter, Growth, a…
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Twilio's Usage-Based Success - A Case Study in Modern Monetization
Start with a transparent usage-based pricing pilot for your core communications product in the next quarter, with clear meters and open dashboards that let customers see exactly what they pay for. Th…
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Deep Tech Startup Playbook - A Practical Guide for Founders
Begin with a three-step sprint: validate the problem, quantify the needs, and secure initial funds. Set weekly milestones, align on a single North Star metric, and document every decision to reduce f…
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Decoding the CAC-to-LTV Ratio for Fund-Level Decision Making
Understand the CAC-to-LTV ratio and its significance in fund-level decision making. Learn how this metric influences investment strategies and growth planning.
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Benchmarking CAC Across Portfolio Companies in CVFF
In the area of venture capital, particularly within the CVFF (Corporate Venture Funding Framework), benchmarking Customer Acquisition Cost (CAC) is key. Understanding and comparing CAC across portfol…
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Pipe: A Fintech Pioneer in Revenue-Based Financing
Introduction Pipe is a financial technology ( fintech ) company founded in 2019 that has gained fame as a pioneer of revenue-based financing. Often described as a “Nasdaq for revenue,” Pipe built a…
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Global Review of Customer Value Finance (CVF) Funds
Introduction: The Rise of Customer Value Finance Customer Value Finance (CVF) is an emerging investment philosophy that centers on customer-centric metrics – such as Customer Acquisition Cost (…
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The Potential of Consumer Value Finance (CVF) for Startups in the US
Introduction Startups across sectors – from SaaS and fintech to direct-to-consumer brands – often face a dilemma: how to finance aggressive customer acquisition without jeopardizing their fin…
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