The SaaS CFO $8M Raised to Automate Business Workflows with AI
In this episode of The SaaS CFO Podcast, we hear from Jacob Bank, the CEO and founder of Relay. Jacob shares his background, including his journey from AI research at Stanford to founding Relay.app.
He discusses the transition from being a founder to being acquired by a larger company, and the challenges and opportunities that came with it. Jacob also delves into the details of Relay, a workflow automation tool that helps people connect multiple products and create streamlined workflows.
He sheds light on the target customers, go-to-market strategy, fundraising journey, and the key metric guiding the business. Tune in to hear about Jacob's insights, strategies, and what's coming up next for Relay.
Show Notes:
00:00 Acquired by Google; led product for Gmail.
04:32 Challenges of team alignment and scaling at Google.
08:46 People find and use Relay for specific needs.
10:56 Shared automation, cross-team workflows, and adaptation.
15:33 Startup secured funding, developed product in timeline.
17:42 Seize investment opportunity, extend runway, minimize dilution.
20:54 Plan ahead for low runway, secure capital strategically.
25:32 Creating targeted how-to guides for automating tasks.
Links:
SaaS Fundraising Stories: https://www.thesaasnews.com/news/relay-app-raises-3-1-million-in-funding
Jacob Bank’s LinkedIn: https://www.linkedin.com/in/jacobbank/
Relay’s LinkedIn: https://www.linkedin.com/company/tryrelayapp/
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