The Closing Call

Most founders focus on valuation and miss the bigger question: what happens after the deal closes? Bradley Keenan reveals why the right partner, the right timing, and the right advice can matter more than the biggest number on the table.

Bradley is the founder of DSMN8, an employee advocacy platform built to turn staff, partners, and customers into social media brand ambassadors. In this conversation with Shane, Ryan Kim, and the Gregory Creative Team, he opens up about the journey from bootstrapped startup to strategic transaction, the lessons that came from a prior exit, and why he was determined to build a business he actually enjoyed running.

You'll discover how a frustrated sales problem led to the original idea, why employee advocacy is still one of the most misunderstood marketing channels, and how Bradley and co-founder Ryan built a partnership that worked because they genuinely liked each other. He also explains why keeping the company bootstrapped forced better discipline, sharper focus, and stronger hiring decisions.

We break down the operational moves that unlocked growth, including the shift from support to revenue in customer success, the sales systems that helped the company scale, and the product decisions that kept DSMN8 ahead of larger, better-funded competitors. Bradley also shares how AI became a key differentiator by helping companies generate on-brand content in the enterprise's voice and the employee's voice, without losing the human touch.

This episode also gets honest about the transaction itself — the stress, the patience required, the importance of clean books and documentation, and why an experienced advisor can be the difference between closing a deal and walking away. Bradley's reflections on post-close life are especially valuable if you're a founder wondering whether selling means losing control or unlocking a new phase of growth.

Essential listening if you're a founder, operator, or buyer thinking about bootstrapped growth, enterprise product-market fit, or preparing for an eventual exit. Bradley's story is a reminder that the best deals are not just about price — they're about fit, trust, and what comes next.

Where you can find Bradley Keenan
LinkedIn – https://www.linkedin.com/in/bradleykeenan/
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What is Kaizen Equity?
Kaizen Equity Partners is a sell-side only investment bank committed to delivering premium outcomes for software & internet businesses. As former B2B software founders and investors, we are uniquely positioned to advise like-minded founders through growth capital raises or strategic mergers.

Securities products offered through BA Securities, LLC Member FINRA (www.FINRA.org) SIPC (www.SIPC.org).
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Check out our website: https://www.kaizen-equity.com

Gauri Manglik, CEO and co-founder of Instrumentl, joins The Closing Call to unpack the journey from bootstrapped experimentation to raising a $55M growth round with Summit Partners. Gauri shares how deep customer obsession shaped product-market fit, why Instrumentl waited years before raising capital, and how AI is transforming the full grant-seeking lifecycle—from discovery to post-award management.

Follow Gauri Manglik

LinkedIn – https://www.linkedin.com/in/gaurimanglik/

Instrumentl – https://www.instrumentl.com/

Key Lessons & Insights

• Identifying product-market fit through persistent customer feedback

• Why Instrumentl pivoted from academia to nonprofits

• Turning an “overlooked” niche into a category-defining SaaS platform

• Bootstrapping discipline vs. raising growth equity

• When it makes sense to take on outside capital

• How to run a thoughtful, founder-led fundraising process

• What growth equity partners look for at scale

• Selecting the right investor beyond valuation

• Applying AI and LLMs across an end-to-end workflow

• Using automation to eliminate operational drag post-award

• Building operational rigor without losing customer focus

• Hiring, culture, and scaling with intention after a major round

Timestamps

[00:00] Episode Introduction

[01:43] Gauri’s background and entrepreneurial roots

[03:31] Discovering the opportunity in grants and nonprofits

[04:19] Early product experiments and false starts

[05:45] Customers revealing real pain and willingness to pay

[06:17] Defining the grant-seeking lifecycle platform

[07:22] Introducing AI and LLMs into Instrumentl

[09:15] Building differentiated AI products beyond text generation

[11:39] AI across discovery, apply, and post-award workflows

[13:40] Staying bootstrapped during hypergrowth

[14:56] What Instrumentl looked for in an investment partner

[16:45] Why raising capital also meant supporting the team

[17:58] Operating differently after partnering with Summit

[19:23] Deciding when it was finally time to raise

[20:51] Why Summit Partners stood out

[21:55] What the $55M round means for employees and hiring

[26:35] Advice for founders preparing for a future fundraise

HubSync founder and CEO John McGowan joins The Closing Call to share how he transformed his Big Four experience into a leading SaaS platform that modernizes tax and audit workflows for accounting firms. McGowan discusses building HubSync from scratch, bootstrapping through consulting, raising $100M from Thoma Bravo, and the lessons learned while running one of the tightest growth processes in M&A.

Follow John McGowan & HubSync
LinkedIn – https://www.linkedin.com/in/jqmcgowan/
HubSync – https://hubsync.com/

Key Lessons & Insights
• How a Big Four CIO bootstrapped HubSync into a market leader
• Why mid-tier CPA firms (Top 5–200) are adopting unified platforms
• The importance of hiring a banker and running a formal process
• How to evaluate institutional investors beyond valuation
• Lessons from managing a high-velocity Series B process with 23 term sheets
• Building investor relationships before a capital raise
• How Thoma Bravo scaled HubSync post-investment through acquisition and AI integration
• Why founders should prioritize partnership fit over check size
• Building a product-led culture that turns clients into advocates
• The future of AI, automation, and e-sign capabilities in tax tech

Timestamps
[00:00] Episode Introduction
[01:30] Introduction: John McGowan and the HubSync story
[04:40] Leaving Deloitte to bootstrap HubSync and validate the mid-market opportunity
[06:23] Breaking through with Top 25 firms and market-leading retention
[07:42] Preparing for growth and the decision to raise capital
[08:41] Dating investors and learning early valuation lessons
[12:19] Deciding to hire a banker and structuring the Series B process
[15:25] Managing 23 term sheets and multiple investor tranches
[17:37] Handling diligence across tech, finance, and operations
[20:04] Learning from investor feedback on scaling strategy
[21:14] Post-transaction roadmap: acquisitions, AI, and payments integration
[25:05] Building a partner-led client culture inside HubSync
[27:41] The weekend that closed the Thoma Bravo deal
[30:12] Advice to founders raising institutional capital

Mortgage Automator co-founder Joseph Fooks joins The Closing Call to share how he and his partners bootstrapped a niche SaaS platform for private lenders into a market-leading outcome. He discusses the early pain points that inspired the product, the pivotal moment COVID created for growth, and how partnering with Kaizen Equity shaped the process, timing, and ultimate outcome of their sale.

Follow Joe Fooks

LinkedIn – https://www.linkedin.com/in/joseph-fooks-1406754a/

Mortgage Automator – https://www.mortgageautomator.com/

Key Lessons & Insights

• How firsthand industry pain points can spark SaaS innovation.

• The impact of web-based architecture during COVID on scaling.

• Identifying an ideal customer profile (AUM $20–150M) for growth.

• Why patience and market timing are critical before a sale.

• The value of transparent, strategic bankers in achieving significant SaaS multiples.

• How to filter potential buyers and create competitive tension.

• Why emotional detachment helps founders make better financial decisions.

• The role of founder–banker alignment and trust in successful exits.

Timestamps

[00:12] Origin of Mortgage Automator and early inefficiencies

[03:46] Solving lender pain points through automation

[06:05] COVID’s unexpected boost to sales and visibility

[07:45] Defining the ideal customer and scaling to enterprise

[09:09] Deciding to explore a sale and partner with Kaizen

[13:15] Market shifts, strategic patience, and pre-sale preparation

[16:16] Achieving a market-leading outcome by following Kaizen’s guidance

[17:31] Managing 25+ term sheets and vetting potential buyers

[20:47] Advice for founders selecting the right investment banker

[23:07] Reflections and gratitude post-closing

Alex Sandkuhl, former VP of Sales at InSync Healthcare Solutions, shares how he helped grow the company from $6M to $39M in revenue and $10M in EBITDA, leading to its acquisition by Qualifacts in 2021. He explains the sales engine that fueled InSync’s growth, the importance of reverse-engineering outcomes for valuation, and how customer subscription financing became a breakthrough strategy.

Follow Alex Sandkuhl
LinkedIn – https://www.linkedin.com/in/alexsandkuhl/
Keystone Growth Advisory – https://www.keystone-growth.com/

Key Lessons & Insights
• Building a scalable outbound sales model from scratch.
• The role of BDRs, lead qualifiers, and AEs in creating a sales engine.
• How TAM/SAM segmentation drove efficient market targeting.
• Instituting accountability through compensation and culture.
• Reverse-engineering valuation metrics before going to market.
• Leveraging financing strategies to fund growth without dilution.
• Positioning as both a platform sale and strategic acquisition target.
• Lessons from post-acquisition integration with Qualifacts.
• Customer subscription financing as a source of non-dilutive capital.

Timestamps
[00:00] Episode Trailer 
[01:25] Early days at InSync and building outbound sales
[03:22] First BDR hires and pipeline growth
[06:44] Scaling the sales engine through segmentation
[09:14] Lead qualifiers and demand generation inflection point
[12:20] Driving accountability with comp plans and culture
[16:27] Reverse-engineering valuation and reporting hygiene
[19:33] Managing 19 bidders and positioning the company
[20:32] Efficiency gains: reducing CAC and increasing margins
[24:17] Post-acquisition integration with Qualifacts
[27:36] Advice to founders on preparing early for a sale
[30:46] Keystone Growth Advisory and building sales engines for SaaS
[32:14] Customer subscription financing explained
[35:02] Reflections on the journey and the closing call