The SaaS CFO

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 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 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  

Welcome to The SaaS CFO Podcast! In today's episode, we have a special guest, Tony Smith, CEO and co-founder of Restaurant 365. Tony shares his journey from software consulting to founding a SaaS company and explains how his experience in the industry shaped his approach.   He takes us through the inception of Restaurant 365, its product offerings, and the diverse range of restaurants they serve. Tony also discusses the challenges and milestones along the way, including the importance of self-funding and the dedication required to build a successful company.   Join us as we dive into the fascinating story of Restaurant 365 and gain insights into their go-to-market strategy. Let's get started!  Show Notes:  [00:01:09] Resold Microsoft software, specialized in customization. Transitioned to focus on restaurant industry.  [00:05:34] Balancing day job, self-funding, and risks.  [00:08:22] Product evolved, different sales models for customers.  [00:11:40] Regular pricing assessment, underprice early, add value.  [00:14:57] Company reached crossroads, chose to seek funding.  [00:19:25] Value your story, connections, and support.  [00:22:11] Gross and net retention important for growth.  Links:  SaaS Fundraising Stories: https://www.thesaasnews.com/news/restaurant365-raises-135-million-in-funding  Tony Smith’s LinkedIn: https://www.linkedin.com/in/tony-t-smith/  Restaurant 365’s LinkedIn: https://www.linkedin.com/company/restaurant365-cloud-erp-for-restaurants/   To know more about Ben check out the links below: Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribeSubscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-pageSaaS 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  

In today's episode of The SaaS CFO Podcast, our host Ben welcomes special guest Paul Martin, an IT entrepreneur and founder of "equipment." Paul shares his insights on the importance of frictionless processes in today's business landscape, where failures cannot be fixed immediately.   With his expertise in IT outsourcing and managing SaaS for mid-sized companies, Paul discusses the challenges faced by both clients and service providers in managing processes efficiently. He also sheds light on the growing significance of outsourcing services, devices, and software for businesses seeking cash flow flexibility and dealing with an expert shortage.   Join us as we delve into Paul's journey, his vision for "equipment," and how they are building a global operating system for the subscription economy in B2B.  Show Notes:   [00:01:29] Outsourcing IT operations: a growing necessity.  [00:04:14] Digital platform targeting IT and telecommunication industries.  [00:09:21] Amazon-like marketplace connects customers and service providers.  [00:13:24] Failed fundraising, pause sales, warm intros, potential in uncertain times.  [00:15:38] Building global provider network for global companies.   Links:  SaaS Fundraising Stories: https://www.thesaasnews.com/news/equipme-raises-3-8-million-in-seed-round  Paul Martin’s LinkedIn: https://www.linkedin.com/in/paul-martin-525433117/ Equip Me’s LinkedIn: https://www.linkedin.com/company/equip-me/  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 #saas #thesaascfo #podcast #saasmetrics #saasmetricsschool #benmurray  

Tal Kirschenbaum, CEO of Ledge, discusses how the automated finance operations platform helps with payment reconciliation. He explores the challenges of manual processes and the benefits of automation. Tal also talks about Ledge's founding and fundraising, as well as their future plans for product expansion.

Welcome back to The SaaS CFO Podcast! In today's episode, we have a special guest, Sandeep Jain, co-founder and CEO of Monetize Now. Sandeep has a unique background in engineering, product, and sales, which has given him a fresh perspective in the tech industry. He shares his journey, from working in various industries to starting his own companies, including his current venture, Monetize Now.   Sandeep dives into the problem he encountered in the podcast distribution space and how it led him to the realization that billing systems for B2B SaaS companies lacked efficiency. This realization sparked the creation of Monetize Now, a revenue operations platform that aims to solve the complex billing challenges faced by B2B SaaS companies.   Sandeep also discusses the market size considerations for startups, the importance of understanding the problem you're solving, and the key focus of Monetize Now in assisting companies with revenues ranging from zero to 100 million dollars. Stay tuned for an insightful conversation about the future of revenue operations and the impact it has on scaling SaaS businesses.  Show Notes:   [00:00:16] Engineering, product, sales mix led to unique perspectives.  [00:03:14] MonetizeNow builds revenue operations platform for SaaS companies.  [00:08:58] Revenue operations hindered by tooling limitations. Vendors overlooked SaaS requirements for integration.  [00:12:46] Early stages, twelve+ customers, replacing Zuora, best architecture.  [00:15:33] Risks faced, but success in funding rounds.  [00:18:55] CEOs with engineering backgrounds need sales skills.  [00:21:52] Signed deals, competitive replacements, exciting revenue growth.   Links:  SaaS Fundraising Stories: https://www.monetizenow.io/blog/announcing-3m| Sandeep Jain’s LinkedIn: https://www.linkedin.com/in/sandeeja/ Monetize Now’s LinkedIn: https://www.linkedin.com/company/monetizenow/  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

Matt Welsh, CEO and co-founder of Fixie AI, joins the podcast to discuss their mission of simplifying language models integration. They highlight their unique approach, combining blog posts, demos, and targeting developers. Matt shares their successful $17M seed funding round and emphasizes the importance of product-market fit and revenue generation.