Deciding to Bootstrap - Thomas Pedersen - Bunny & OneLogin - Episode #57

What’s it really like to build a SaaS company from scratch, not just once but twice? In this episode, David talks to Thomas Pedersen, the serial entrepreneur who co-founded OneLogin and now leads Bunny, a bootstrapped billing platform for B2B SaaS.

Thomas also opens up about co-founding two companies with his brother, surviving a major security breach, and how he’s approaching company-building differently this time around.

Takeaways:

• Why Thomas Is Bootstrapping This Time: After raising $175 million for OneLogin, Thomas opted to bootstrap Bunny, focusing on control and long-term product quality. He discusses how this choice affects hiring, spending, and overall company culture.
• Bringing the Band Back Together: Bunny’s small but mighty team includes engineers from OneLogin. Thomas shares why working with trusted colleagues has helped them execute quickly and avoid early hiring pitfalls.
• The Grind Creates the Bond: Reflecting on the early OneLogin years, Thomas explains how hard work and shared struggle helped forge lasting relationships and why people often want to work with him again.
• Building with His Brother, Again: Thomas co-founded both of his startups with his brother. He explains how they complement each other technically, navigate disagreements, and have grown even closer through the experience.
• Remote from Day One: From commuting weekly between LA and San Francisco during OneLogin’s VC-fueled growth to now working from a boat in the Mediterranean, Thomas discusses why Bunny is remote-first and when in-person still matters.
• Lessons from a Security Breach: A major breach at OneLogin could have destroyed the company. Thomas details how transparency and direct communication with customers helped them retain trust and bounce back.

Quote of the Show:

• "It’s really hard to get a design partner… I wish every Saas or every startup could find a customer like that." - Thomas Pedersen

Links:

• LinkedIn: https://www.linkedin.com/in/tbpeder
• Website: https://bunny.com/

Ways to Tune In:

• Substack: https://notanotherceo.substack.com/
• Spotify: https://open.spotify.com/show/1NQ9oAB2XKlgWeL8iEQXg0 
• Apple Podcasts: https://podcasts.apple.com/us/podcast/not-another-ceo-podcast/id1751581707 
• YouTube: https://www.youtube.com/@NotAnotherCEOPodcast 
• Transistor: https://podcast.notanotherceo.com/ 

#NotAnotherCEO #BusinessSuccess #bunny

Chapters:

00:00 Intro

01:32 Building Bunny: Lessons from OneLogin

02:39 Team Dynamics and Hiring Strategies

05:59 Working with Family: A Brother's Partnership

10:55 Remote Work and Company Culture

16:40 Bootstrapping vs. Venture Capital

23:37 Marketing and Personal Branding

28:46 Passion for Solving Business Problems

31:21 The Importance of Solving Business Problems

31:38 Challenges and Solutions in Billing

33:24 Early Days of OneLogin

33:40 Building SAML Integrations

36:20 Acquiring First Customers for Bunny

37:35 The Role of Design Partners

41:28 Handling Security Breaches

45:04 Transparency and Customer Trust

48:09 Future of Bunny

50:46 Entrepreneurial Journey and Background

54:45 Mentorship

59:13 Advice to His Younger Self

01:03:04 Outro