SaaS Interviews with CEOs, Startups, Founders
His First Exit Was for $200m, His Next Startup Hit $1m Then Almost Failed, Now 100% YoY Growth at Customer.ai with unique LLM model
Sep 19, 2023
Larry Kim, entrepreneur and founder of two successful companies, shares his journey as an entrepreneur and how he overcame funding limitations with non-dilutive capital. The podcast discusses the rebranding of Mobile Monkey to Customers.ai and their focus on sales reach using AI and a unique data set. They also explore their partnership with Facebook, challenges faced, and their pivot towards sales outreach automation. The chapter further delves into the technology used, non-dilutive financing, and the challenges of pricing. The speakers discuss the financial aspects of their startup, including high interest rates, paying off a loan early, and their successful pivot to Customer.ai with an extra million in ARR.
24:47
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Quick takeaways
- Larry Kim leveraged non-dilutive funding from Founderpath to extend runway and pivot his company from mobile monkey to customers.ai, resulting in revenue doubling to $3.7m.
- Customers.ai differentiates itself by building its own Language Learning Model (LLM) using proprietary consumer data, enabling targeted marketing campaigns and valuable insights.
Deep dives
Larry Kim's Journey with Customers.ai
Larry Kim, the CEO of customers.ai, shares his entrepreneurial journey. He started with mobile monkey and quickly grew it to a million in revenue, but then faced challenges and didn't want to invest his last $200 million in it. Instead, he decided to use non-dilutive capital from FounderPath. He raised a couple hundred grand, rebranded the company as customers.ai, and now has over two million in ARR. Their unique offering is a language learning model powered by early data captured from mobile monkey. It allows users to identify website visitors and gather their contact information for sales outreach.
