The SaaS CFO – Details, episodes & analysis

Welcome to another riveting episode of The SaaS CFO Podcast! I'm your host, Ben, and today we have an extraordinary guest with us—Richard White, the founder and CEO of Fathom. With a background as a computer scientist, Richard quickly transitioned into the world of product design and has since become a pioneer in AI-powered software. He honed his skills and experience during his time with Y Combinator and through his previous venture, UserVoice, which laid the groundwork for his current success. Today, Fathom stands as the number one rated AI note taker on G2, making waves with its innovative approach to simplifying meeting notes and enhancing productivity. 

In our conversation, Richard opens up about the unique fundraising strategies that powered Fathom's growth, including an impressive $27.3 million raised across multiple tranches and a notable series A. He also shares his insights on the evolving landscape of AI in SaaS products, discussing the challenges and opportunities that come with integrating advanced AI capabilities. Richard's perspective on the importance of user satisfaction, exemplified by Fathom's world-class NPS score, offers valuable lessons for any SaaS professional aiming to build products that not only solve problems but delight users. 

Whether you're a startup enthusiast, a seasoned SaaS executive, or someone intrigued by the future of AI in business, today's episode is brimming with insights you won't want to miss. Richard's passion for creating products that truly enhance user experience and his strategic approach to building a successful SaaS company provide a goldmine of knowledge. So sit back, relax, and get ready to be inspired by Richard White's remarkable journey and the innovative work happening at Fathom. Let's dive into the conversation! 

Show Notes: 

00:00 Fathom: free AI notetaker, popular, premium options. 

05:54 Fortunate entry into Zoom marketplace accelerated success. 

08:05 Aggressive Moore's Law application, Amazon-style long-term strategy. 

12:47 Unique, coalition-building fundraising strategy with small checks. 

14:51 Series A expectations now demand fully developed businesses. 

17:57 Founder prefers direct approach over lengthy fundraising. 

22:55 Monthly meetings assess MPS scores, engage customers. 

23:47 Surfing AI wave: Insightful tools for teams. 

Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/fathom-raises-17-million-in-series-a 

Richard White’s LinkedIn: https://www.linkedin.com/in/rrwhite/ 

Fathom’s LinkedIn: https://www.linkedin.com/company/fathom-video/ 

Fathom’s Website: https://fathom.video/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

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SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

Welcome to The SaaS CFO Podcast! In today's episode, we are thrilled to have Flynn Glover, co-founder and CEO of Schematic, join us for an insightful conversation. Flynn takes us through his entrepreneurial journey, from aspiring soccer player to successful entrepreneur. He shares how his first company, which started as a location-based app, evolved into a content marketing software and eventually got acquired. 

Flynn then dives into his current venture, Schematic, a platform that enhances Stripe for developers by managing the complexities of pricing and packaging for B2B SaaS companies. He explains how Schematic helps startups by offloading the infrastructural burden around Stripe, enabling them to focus on core product development. Flynn also discusses Schematic's unique approach to both early-stage and more established companies, and their recent public availability launch. 

With a solid blend of personal stories, strategic insights, and practical advice, this episode is packed with valuable takeaways for any SaaS founder. Flynn shares his experience with fundraising, customer acquisition, and the innovative solutions Schematic brings to the table. Don’t miss out on this engaging and informative episode of The SaaS CFO Podcast! 

Show Notes: 

00:00 Supercharging Stripe for developers’ pricing infrastructure. 

05:54 Focus: aiding engineering to optimize tiered offerings. 

07:15 Early-stage companies prefer Schematic's easy implementation. 

10:47 Founder hustle: referrals, stories; content-driven marketing. 

13:46 Key milestone: Real customers trust product production. 

17:53 Early stages, need pricing models, improve onboarding. 

Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/schematic-raises-4-8-million-in-seed-round 

Flynn Glover’s LinkedIn: https://www.linkedin.com/in/fynn-glover-b0410015/ 

Schematic HQ’s: https://www.linkedin.com/company/schematichq/ 

Schematic HQ’s Website: https://schematichq.com/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS etrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

Welcome to another episode of The SaaS CFO Podcast! Today, our host Ben is joined by the dynamic team behind Toystack, a groundbreaking DevOps platform on Kubernetes designed to simplify and scale deployment for startups and SMBs. We have Mukund, Arun, Sravan, and Torun here to discuss how Toystack operates like an innovative coworking space for DevOps, providing essential services like security, logging, monitoring, and alerts. 

Together, they delve into the origins of Toystack, targeting developers and startups who lack dedicated DevOps engineers, and how it accelerates product development while cutting costs. We'll explore their user growth strategy, community engagement on Discord, and future plans for integrating AI and new frameworks. The team will share insights on their monetization approach, focusing on converting trial users to paying customers, and their ambitious goals to double their user base in the coming months. 

We'll also hear about their journey in securing initial revenue, their decision to maintain the name "Toystack" despite enterprise considerations, and their adventures in funding and team dynamics. Whether you're part of a small startup or an enterprise team, you won't want to miss the valuable lessons and strategies from the co-founders of this innovative platform. So tune in and get ready to be inspired by the story of Toystack! 

Show Notes:  

00:00 Investment banker turned entrepreneur with ecommerce marketplace. 

05:30 Effortless cloud deployment for developers without DevOps. 

07:04 Toystack: Scalable DevOps platform for startups' deployment. 

12:24 Launched in February, achieved 7000 users globally. 

16:19 Focusing on product-led growth for next years. 

18:57 We bootstrapped until gaining traction before fundraising. 

23:38 Doubling user growth, fostering an active community. 

25:49 Community support and deployments are crucial metrics. 

28:17 Toystack showcases live open source project deployments. 

Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/toystack-ai-raises-325k-in-pre-seed-round 

Toystack’s LinkedIn: https://www.linkedin.com/company/toystack/ 

Toystack’s Website: https://toystack.ai/ 

To learn more about Ben check out the links below: 

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe 

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page 

SaaS Metrics courses here: https://www.thesaasacademy.com/ 

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout 

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray 

Welcome to The SaaS CFO Podcast. In this episode, we dive deep into the world of SaaS spend management with Sven Lackinger, co-founder and CEO of Sastrify. Sven shares his journey from founding a company in the parking technology market, which was later acquired, to launching Sastrify, a company focused on managing the lifecycle of SaaS within organizations.  

He discusses the products and services offered by Sastrify and provides insights into their pricing model and customer base. Sven also shares valuable lessons learned from his extensive fundraising experience, as Sastrify secured rounds of investment ranging from seed to Series B.  

Join us as Sven gives us a glimpse into the future plans for Sastrify and shares his valuable insights for other founders in the SaaS industry. 

Show Notes: 
 
00:00 Sastrify co-founder Max's overspending on SaaS licenses led to creating a company managing SaaS lifecycle and costs. 

03:38 SaaS companies increasing usage-based pricing due to analytics and AI impact. 

09:02 Sales growth fueled by intangible ROI, centralized SaaS stack reduces spend waste, works with finance teams and procurement over 500 FTEs. 

11:27 Received early funding, formed partnership, strong growth, successful B round fundraising. 

13:05 Expanding products, global markets, innovation, finance focus. 

16:33 Focus on mid-market customers, aiming to grow into higher-end market. 

Links: 
 
SaaS Fundraising Stories 

Aug 2021 https://www.thesaasnews.com/news/sastrify-raises-7-million-in-seed-round 

Jan 2022 https://www.thesaasnews.com/news/sastrify-raises-15-million-in-series-a 

May 2023 https://www.thesaasnews.com/news/sastrify-raises-32-million-in-series-b 

Sven Lackinger’s LinkedIn: https://www.linkedin.com/in/svenlackinger/ 

Sastrify’s LinkedIn: https://www.linkedin.com/company/sastrify/ 

To know more about Ben check out the links below:

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SaaS Metrics courses here: https://www.thesaasacademy.com/

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to The SaaS CFO Podcast! In today's episode, we have a special guest, Ben York, the CEO of Genetica. Ben shares his fascinating background, starting in finance and later transitioning into the world of SaaS and investment.  

Genetica, founded in late 2020, is at the forefront of modernizing the cannabis and CBD retail experience through their AI platform. Ben delves into the products and services offered by Genetica, such as Flora Match, which analyzes data points and individual biochemistry to provide personalized recommendations, and Flora OS, which optimizes operations for retailers.  

He also discusses the challenges and opportunities in the cannabis tech industry, including regulatory hurdles and the potential for consolidation. Stay tuned to learn more about the exciting developments in the cannabis tech space with Ben York on The SaaS CFO Podcast. 
 
Show Notes:
 
[00:02:11] Genetica modernizes cannabis retail with AI. 

[00:04:06] Industry tests products, provides certificates, reduces liability. 

[00:07:32] Challenges in raising capital, consolidation and mergers. 

[00:12:05] Targeting retailers with advisors and partners. 

[00:13:32] Twitter advertising bypasses restrictions to gain visibility. 

[00:16:57] Always take conversations, even seemingly random ones. 

[00:21:11] Ahead of schedule, product predicts employee's resignation. 

Links:
 
SaaS Fundraising Stories: https://www.thesaasnews.com/news/genetica-raises-500-000-seed-round 
Ben York’s LinkedIn: https://www.linkedin.com/in/robert-ben-york/ 
Genetica’s LinkedIn: https://www.linkedin.com/company/getgenetica/ 
Genetica’s Website: https://www.getgenetica.com/ 

To know more about Ben check out the links below:

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page

SaaS Metrics courses here: https://www.thesaasacademy.com/

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to The SaaS CFO Podcast! In this episode, our host, Ben, sits down with Alexander Hagerup, the co-founder and CEO of VIC AI. Alexander shares his background growing up in Norway with parents who were small business owners, and how his fascination with accounting and finance led him to start several successful companies.  

He then dives into the products and services offered by VIC AI, which focuses on revolutionizing the accounting process through autonomous algorithms and AI technology. The main focus currently is on the accounts payable process, with plans to expand into other areas of accounting in the future.  

Alexander also discusses the state of AI in accounting and the importance of accuracy and scalability in making AI solutions work effectively in real-life scenarios. Join us as we explore the world of AI-powered accounting with Alexander Hagerup. Let's get started! 
 
Show notes:
 
[00:01:50] The speaker observed accounting at scale, realizing its global similarity and the need for efficient transaction processing. 

[00:03:34] Vic AI aims to create autonomous accounting processes, with AI capable of working independently and seeking human help when needed. It also focuses on providing financial insights from accounting data, starting with the accounts payable process. 

[00:10:10] Company focuses on accounts payable but aims to expand to broader AI applications; foresee AI-run business functions emerging in the future. 

[00:13:27] We work with large companies for greater AI benefits, ROI. 

[00:17:20] GGB supports our future vision, building capital-intensive software and AI business, with high value for customers. 

[00:20:27] Attracting experienced talent and maintaining a solid balance sheet are important for growth and customer confidence. 

[00:21:55] Finding investors aligned with long-term strategy is crucial. A shared mission and vision fosters belief in the future despite challenges. 

[00:26:23] Excited about AI-based purchase order matching, launching bill pay, expanding AI-based accounts payable process, and broadening to adjacent accounting processes. 

Links:

SaaS Fundraising Stories: https://www.thesaasnews.com/news/vic-ai-raises-50-million-in-series-b 

Alexander Hagerup’s LinkedIn: https://www.linkedin.com/in/alexanderhagerup/ 

Vic.ai’s LinkedIn: https://www.linkedin.com/company/vic.ai/ 

Vic.ai’s Website: https://www.vic.ai/ 

To know more about Ben check out the links below:

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page

SaaS Metrics courses here: https://www.thesaasacademy.com/

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to another episode of The SaaS CFO Podcast! In this episode, our host Ben sits down with Amr Awadallah, the founder and CEO of Vectara. Amr shares his impressive background as a seasoned entrepreneur, from being the VP of Developer Relations at Cloud to founding and serving as CTO of Cloudera, and his time at Yahoo.  
 
He also discusses his journey from wanting to be a professor to being drawn into the world of entrepreneurship at Stanford. Amr dives into the details of Vectara, a company that offers a powerful AI tool that allows users to leverage their own data for tasks like brainstorming and customer support.  
 
The conversation explores the simplicity and accessibility of Vectara’s API, the target customer profiles, and the consumption-based pricing model. Join us as we unravel the fascinating story and insights of Amr Awadallah on this episode of The SaaS CFO Podcast. 
 
Show Notes: 

 
[00:01:36] Stanford taught entrepreneurship, changed my teaching mission. 

[00:03:28] Collaborate on brainstorming with an intern using data. 

[00:07:26] Charges based on consumption, 50 MB data free. 

[00:10:46] Consumption-based model, land and expand. Goal: acquire customers even with minimum $1.0.25 payment. Grow customer data and API usage. Hybrid approach: product-led growth and premium offering. 

[00:16:23] Raise capital for expansion, sales, and competition. 

[00:18:37] Startup success rates are only 10%. Extending lifespan is crucial for success. 

[00:22:19] Massive opportunity proven by Chat GPT success. 

 
Links: 

SaaS Fundraising Stories: https://www.thesaasnews.com/news/vectara-raises-20-million-in-seed-round 

Amr Awadallah’s LinkedIn: https://www.linkedin.com/in/awadallah/ 

Vectara’s LinkedIn: https://www.linkedin.com/company/vectara/ 

To know more about Ben check out the links below:

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page

SaaS Metrics courses here: https://www.thesaasacademy.com/

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to The SaaS CFO Podcast! In today's episode, our host Ben sits down with special guest Dharmendra Mohan, co-founder and CEO of Sonet.IO. Dharmendra shares his background in R&D, including his experience at Symantec and Bluecode Systems before embarking on the journey of starting Sonnet.  
 
He explains the tipping point that led him to realize the potential of the cloud and the need for a better solution to connect remote workers to applications securely and hassle-free. Dharmendra dives deep into the products and services offered by Sonet, highlighting their remote work platform and how it benefits various industries, particularly in the tech and services sectors.  
 
He also discusses the company's go-to-market strategy, recent funding round, and plans for expansion. Tune in to this insightful episode to learn more about the innovative work being done at Sonet.IO. 
 
Show Notes: 
 
[00:02:18] Sonnet: Remote work platform, secure connection. 

[00:04:07] Securing and monitoring data for maximum protection. 

[00:07:28] Dual strategy: content creation and outreach methods. 

[00:10:11] Critical to have right product-market fit, cash-efficient, profitable, sustainable business. Prototype, customer feedback, execution important. 

[00:13:38] Constantly upgrading platform with secure, mobile accessibility. 
 
Links:
SaaS Fundraising Stories: https://www.thesaasnews.com/news/sonet-io-raises-6-million-in-seed-round 
Dharmendra Mohan’s LinkedIn: https://www.linkedin.com/in/dharmendra-mohan/ 
Sonet.IO’s LinkedIn: https://www.linkedin.com/company/sonet-io/ 

To know more about Ben check out the links below:

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page

SaaS Metrics courses here: https://www.thesaasacademy.com/

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to The SaaS CFO Podcast! In this episode, our host Ben is joined by the esteemed Jim Williams, a seasoned expert in software M&A and the Managing Director of GLC Advisors. They delve into the current landscape of private equity deals, the changing dynamics of valuations, and the importance of understanding the true business model in SaaS companies. 

Jim sheds light on the cautious approach private equity sponsors are taking, with lenders becoming more conservative on leverage. They discuss how discipline has increased among sponsors, who now prioritize investing in higher-quality assets and businesses with stronger growth potential. Valuations have shifted, and Jim provides insights into the factors driving these changes.  

The conversation then turns to the significance of understanding revenue streams and profitability in SaaS companies. Jim emphasizes the need for a clear delineation of business models and revenue streams, as well as the importance of showing gross margins by business line. They also explore the difference between platform and add-on acquisitions, with Jim explaining how each contributes to scaling a business. 

Valuations, growth rates, and profitability remain key considerations for investors, with a focus on financial discipline and sound fundamentals. Jim examines the "rule of 40" and the changing mindset towards the growth at all cost models. They delve into the current state of the software M&A market, discussing deal volume, valuations, and deal structures. 

As the episode draws to a close, Jim offers insights into the challenges and opportunities that lie ahead for software entrepreneurs. He predicts a potential pickup in software M&A activity in 2024 and encourages business owners to seek advice and carefully consider their timing. Jim's expertise and outlook provide valuable guidance for navigating the ever-evolving software industry. 

Stay tuned for an informative and thought-provoking discussion on The SaaS CFO Podcast! 
 
Show Notes: 
 
00:01:30 New normal: stable, consistent decline in deals. 

00:04:33 Stabilized deals, new normal in rate environment. 

00:08:30 Lenders getting more conservative, making deals harder. 

00:11:24 Disciplined firms invest in better assets. 

00:14:21 Good companies getting fair multiples, longer diligence. 

00:17:28 Buyers lack urgency to close deals. 

00:20:02 Deal volume steady, quality plays important role. 

00:22:43 Look forward in financials, focus on ARR. 

00:26:22 Metrics, gross and net revenue retention focus. 

00:29:27 GR important metric, Mr. Schedule, data consistency, diligence, renewal rates, data preparation, metrics 

00:34:22 Importance of understanding SaaS business model. 

00:36:22 Clearly explain business model and revenue streams. 

00:40:49 Platform: bigger, confident sponsor with strong belief. 

00:43:24 Hurdle for businesses to reach Ten X. 

00:47:38 Steady Eddie businesses for potential add-ons. 

00:50:34 2024 outlook positive, potential delay in progress. 

00:52:51 Offering software quarterly report for Ben's notes. 
 
Links:  
 
James Williams LinkedIn: https://www.linkedin.com/in/james-williams-5754953/ 

To know more about Ben check out the links below:

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe

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SaaS Metrics courses here: https://www.thesaasacademy.com/

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray

Welcome to The SaaS CFO Podcast! In this episode, our host Ben is joined by special guest Peter Tilbrook, founder and CEO of Loro Insuretech. Peter shares his background in the insurance industry and how his frustrations with existing solutions led him to start his own company.  

They discuss the products and services that Loro offers, including their ambitious goal of taking any insurance product online immediately. Peter also dives into their unique pricing model and ideal customer profile.  

Tune in to learn more about the innovative world of Loro and the vision of democratizing access to insurance. 
 
Show Notes 

[00:03:13] Ambitious insurance platform connecting global markets. 

[00:06:25] Pricing model debate: fixed cost, tiered rates. 

[00:12:03] Small team, regular catch-ups, easy onboarding. 

[00:14:17] Startup journey: learning, feedback, networking, digital marketing. 

[00:17:48] Belief and support led to investment success. 

[00:20:04] Learn, speak, advise, reach out, invest, execute. 

[00:22:30] Website showcases pricing and company updates. Networking on LinkedIn encouraged. 
 
Links: 
 
SaaS Fundraising Stories: https://www.thesaasnews.com/news/loro-insuretech-secures-750-000-in-seed-round  
Peter Tillbrook’s LinkedIn: https://www.linkedin.com/in/peter-tilbrook-50832336/ 
Loro Insurtech Inc. LinkedIn: https://www.linkedin.com/company/loro-insurtech/ 

To know more about Ben check out the links below:

Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe

Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page

SaaS Metrics courses here: https://www.thesaasacademy.com/

Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout

Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray