The Official SaaStr Podcast: SaaS | Founders | Investors

Dimitri Sirota is the Founder & CEO @ BigID, the startup that provides advanced data discovery and intelligence for the data centre and cloud. To date Dimitri has raised over $145M for BigID from some of the best in the world of enterprise including Boldstart, Scale Venture Partners, Bessemer, Salesforce Ventures and Tiger Global who just a couple of weeks ago, led their latest $50M Series C. Before to BigID, Dimitri founded 2 prior businesses, the first in 1999 being a VPN security company called eTunnels and then the second being Layer Technologies where Dimitri enjoyed an incredible 10 year journey leading to their acquisition by CA Technologies in 2013. Dimitri is also an angel investor with a portfolio including Zume Pizza, Modalyst and TalentClick.

In Today's Episode We Discuss:

• How Dimitri made his way into the world of enterprise software and came to found BigID as his third company?
• What specifically would Dimitri advise founders when the interests of their investor are not aligned to theirs? What is the right way to manage that situation? Does Dimitri believe that founders should always be raising? Does Dimitri believe when the money is on the table, you should take it? What is the right way for founders to think about valuation?
• What did the fundraising journey look like for BigID? What situation does every founder want to put themselves in? How does Dimitri think about runway and using fundraising for optionality? What does Dimitri make of the rise of pre-emptive rounds? How does Dimitri determine when is the right time to pour fuel on the fire?

Dimitri's 60 Second SaaStr:

1. What is his biggest strength and biggest weakness as a CEO?
2. Who was the first check in BigID? How did the check come about?
3. What does Dimitri believe that most around him disbelieve?

Read the transcript on our blog.

If you would like to find out more about the show and the guests presented, you can follow us on Twitter here:

Jason Lemkin

Harry Stebbings

SaaStr

Dimitri Sirota

When it comes to seamlessly scaling your applications, a top-notch engineering team will be your foundation. Next comes the decisions to build or buy your infrastructure, DNS, monitoring, and analytics tools. Julian Lemoine, Co-Founder, and CTO of Algolia will share his lessons learned on how to stay focused and innovative as you scale while also avoiding the innovation for innovation's sake pitfalls.

Find the video and full transcript on our blog.

With up to 20 times higher limits, up to 5 million dollars, and huge rewards like 2x back on recurring SaaS spend and 4x back on Brex Travel. The Brex corporate credit card is designed for startups, all with no personal guarantee. Sign up at brex.com and get card fees waived for life with code SaaStr19

Yousuf Khan is the Chief Information Officer @ Automation Anywhere, the only web-based and cloud-native RPA platform. To date, Automation Anywhere has raised over $840m in financing from Salesforce Ventures, Workday, General Atlantic and NEA to name a few. Prior to Automation Anywhere, Yousuf was the CIO & VP of Customer Success @ Moveworks. During his time at the company, they raised over $108m from Lightspeed, ICONIQ, Kleiner, Sapphire and Bain Capital. Before Moveworks, Yousuf was CIO @ Pure Storage during their period of hypergrowth both as a private and public company. Finally, before Pure, Yousuf's first role in the valley was with Qualys again as CIO where he owned the entire global IT budget.

In Today's Episode We Discuss:

• How Yousuf made his way from the UK to the valley and how that led to his becoming one of the leading CIOs today in the rising prominence of CIOs in enterprise?
• What are the biggest green lights for CIOs when startups are pitching them? Why does Yousuf believe now more than ever, the buyer experience is more important than the price? What makes for the best buyer experience for the CIO? What are the biggest red flags CIOs see when startups are pitching them? What must startups always remember when pitching CIOs?
• How does Yousuf advise CIOs to approach pricing strategy when pitching CIOs? What must startups remember about how CIOs think about price? What other elements of the contract should startups really spend a lot of time focusing on? Where do founders make mistakes in negotiation? What can they do to enforce a sense of urgency when signing new clients?
• What can startups do to actively work with procurement teams and make the process as fast as possible? How does Yousuf advise founders to think about customised procurement requests to fit certain buyers? What do CIOs really want to see in the form of security and compliance? How can startups clearly and articulately present their plans for security, compliance and change management?

Yousuf's 60 Second SaaStr:

1. Who does Yousuf think is killing it in the world of CIO's today? Why?
2. What is the ideal relationship between the CIO and the CEO?
3. What are the core reasons buying processes take longer?

Read the transcript on our blog.

If you would like to find out more about the show and the guests presented, you can follow us on Twitter here:

Jason Lemkin

Harry Stebbings

SaaStr

Yousuf Khan

Startup success is not exclusive to Silicon Valley. With more companies launching and thriving outside of Silicon Valley, regions such as 'Silicon Slopes' in Utah and 'Silicon Alley' in New York City are gaining traction within the startup scene. Podium, an interaction management platform for local businesses, was founded in Utah and grew from five employees in 2015 to more than 300 in 2019 to become one of the fastest-growing SaaS companies in the United States. In just four years, Podium has raised almost $100 million, with annual recurring revenue increasing to almost $60 million. Eric Rea, CEO of Podium, will share how he grew the company he launched from his spare bedroom into one of the fastest-growing SaaS companies in the country.

Find the video and full transcript on our blog.

Sponsor message: With up to 20 times higher limits, up to 5 million dollars, and huge rewards like 2x back on recurring SaaS spend and 4x back on Brex Travel. The Brex corporate credit card is designed for startups, all with no personal guarantee. Sign up at brex.com and get card fees waived for life with code SaaStr19

Bob Moore is the Founder & CEO @ Crossbeam, the startup that helps companies find overlapping prospects and customers while keeping the rest of their data private and secure. To date Bob has raised over $15m with Crossbeam from friends of the show including Andy @ Uncork, Matt @ Firstmark, Bill @ First Round and Matt @ Salesforce Ventures, to name a few. Prior to Crossbeam, Bob founded Stitched, a powerful ETL service built for developers that was acquired by Talend in 2018. Before that Bob co-founded RJ Metrics, where he built a global base of online retailers leading to their acquisition by Magento Commerce in 2016.

In Today's Episode We Discuss:

• How Bob made his way into the world of SaaS and came to found Crossbeam?
• As an entrepreneur, Bob has previously said, "no one is coming to save you". What did he mean by this? What were the core mistakes that he made with RJ Metrics? Is it the responsibility of the board to course correct at this early stage? How does Bob determine whether to be visionary and determined vs realising when something is not working?
• Does Bob agree with the notion that channel sales have completely died in the world of SaaS? Why is this? What are the drivers of it's death? How important is it to own the entire customer journey? At what scale does that become impossible? In terms of replacement, what does Bob believe will be the emerging trends in SaaS Go To Market that will replace it?
• How does Bob think about when is the right time to hire a Head of Partnerships? In the early days, partnerships can be a distraction, how does Bob determine between right and wrong when determining whether to engage in a partnership? Where do most startups go wrong both in hiring for partnerships and in the engagements themselves?

Bob's 60 Second SaaStr:

1. What is the hardest element of Bob's role with Crossbeam today?
2. What does Bob believe that most around him disbelieve?
3. What does Bob know now that he wishes he had known at the beginning?

Read the transcript on our blog.

If you would like to find out more about the show and the guests presented, you can follow us on Twitter here:

Jason Lemkin

Harry Stebbings

SaaStr

Bob Moore

Did you know that if your network goes down it can cost you on average $5,600/minute? What if I also told you, you could have 100% confidence that your business data is secure and allow for new employees to be on-boarded with ease and offboarded securely in a few short clicks. Your employees automatically have the right applications installed with the right permissions and joy of joys, you never hear about printer issues. Plus it's all done through a first of its kind IT platform called Electric, delivering enterprise-grade IT support previously not available to small and medium-sized businesses at a fraction of the cost. So whether you have IT in-house or no IT at all, Electric solve it at lightning-fast speed either remotely or sending a certified partner to you. So if you're interested in deploying world-class IT which keeps your employees productive and data secure visit: www.electric.ai/saastr

The vision of exceeding sales, establishing credibility and successfully launching a product is no small task, especially when striving for that perfect introduction into the world of consumers. With so many articles, investors, and outside opinions, the true, simple tasks of launching can get lost in the noise. In this session, Jen Taylor, Head of Products at Cloudflare, will share her expertise and teach you to forget the noise, stick to the basics, and use 5 easy steps to turn that idea into a reality.

Find the video and full transcript on our blog.

Sponsor message: With up to 20 times higher limits, up to 5 million dollars, and huge rewards like 2x back on recurring SaaS spend and 4x back on Brex Travel. The Brex corporate credit card is designed for startups, all with no personal guarantee. Sign up at brex.com and get card fees waived for life with code SaaStr19

This interview originally aired as Episode 213 on February 26, 2019.

Tom Tunguz is General Partner @ Redpoint Ventures, the venture fund with a portfolio including the likes of Stripe, Netflix, Zuora, Hashicorp and Juniper Networks just to name a few. As for Tom, he joined Redpoint in 2008 and has since led investments in Kustomer, Looker, Expensify and Gremlin all prior guests on the show I hasten to add. He is also the co-author of Winning with Data: exploring the cultural changes big data brings to business. Tom has also been named on the Forbes Midas Brink list. Before joining Redpoint, Tomasz was the product manager for Google's AdSense social-media products and AdSense internationalization.

In Today's Episode We Discuss:

• How Tom made his way from creating software with his father in Brazil to being GP and forefront figure in the SaaS investment community as a GP at Redpoint today?
• Annual contracts: To what extent do annual contracts dominate today? How does this differ when comparing enterprise to SMB? Why does Tom think in the early days one should be wary of signing too many multi-year contracts? What are the dangers there? How does Tom think about calculating churn when it comes to multi-year contracts?
• What were the findings on what good looks like when it comes to logo retention? How does this differ when comparing SMB to enterprise? What were the commonalities of leading indicators of churn? Is it fair to always surmise that when serving SMB one will always have a higher rate of churn? What is the right way to conduct a churn analysis?
• Assisted vs unassisted: What does Tom believe are the leading benchmarks for both? How does this differ when comparing SMB to enterprise? How does the impact of a salesperson change the conversion rate? What time frame from SAL to closed lead suggests product market fit? What one question must all founders be asking in the sales process?
• How does Tom think about constructing comp plans the right way today? How should comp plans differ when comparing AEs to customer success? Where should the responsibility for upsell lie, customer success or sales? Should sales commission be paid on renewals?

Tom's 60 Second SaaStr:

1. What does Tom know now that he wishes he had known at the beginning?
2. What is Tom's favourite book and why?
3. What is Tom's most recent investment and why did he say yes?

Read the transcript on our blog.

If you would like to find out more about the show and the guests presented, you can follow us on Twitter here:

Jason Lemkin

Harry Stebbings

SaaStr

Tom Tunguz

The SaaS business model has risen to popularity for many reasons - it's fast-paced, creates residual revenue streams, and well, the multiples are strong. However, while many are flocking to reap the benefits of the SaaS model, truly understanding how it works sustaining success over time is not as easy as some make it look. Rajesh is going to walk you through the key elements of winning the long game in SaaS - how to win customers, how to create long-term relationships, and how to avoid churn. He will also provide insights on the differences between commercial and enterprise customers and the key metrics to keep an eye on as you grow your business.

Find the video and full transcript on our blog.

Sponsor message: With up to 20 times higher limits, up to 5 million dollars, and huge rewards like 2x back on recurring SaaS spend and 4x back on Brex Travel. The Brex corporate credit card is designed for startups, all with no personal guarantee. Sign up at brex.com and get card fees waived for life with code SaaStr19

Congratulations you've built a product that's proven itself in the marketplace! So how can you leverage that product's success to obtain the valuation and funding you need to scale? Ashley Smith, Venture Partner at OpenView will provide insight on what investors are looking for in product metrics and growth indicators so you can capitalize on your product's story for funding.

Find the video and full transcript on our blog.

Sponsor message: With up to 20 times higher limits, up to 5 million dollars, and huge rewards like 2x back on recurring SaaS spend and 4x back on Brex Travel. The Brex corporate credit card is designed for startups, all with no personal guarantee. Sign up at brex.com and get card fees waived for life with code SaaStr19

This interview originally aired as Episode 229 on April 29, 2019.

Manny Medina is the Founder & CEO @ Outreach, the market leading sales engagement platform that turns your team into a revenue driving machine. To date, Manny has raised over $114m in funding from some great people including friends of the show in the form of Alex Clayton @ Spark, Mayfield, Trinity Ventures and DFJ Growth, just to name a few. Prior to founding Outreach, Manny spent 7 years with Microsoft where he ran the Latin America and Canada business development group for Microsoft's emerging mobile division, representing $50M of yearly revenue. Befofe that Manny was a Senior Product Manager @ Amazon where he engineered the compensation system for Amazon Associates and Web-Services which accounts for 15% of Amazon's traffic.

In Today's Episode We Discuss:

• How Manny made his way to found the leader in sales engagement from product management at Amazon and Business Development @ Microsoft.
• How does Manny fundamentally approach managing top of funnel? What are the 2 big dangers of not managing it aggressively? What can be done to ensure not only full but high quality top of funnel?
• Why does Manny believe it is so important to track pipeline coverage as one of your core metrics? What does good look like when it comes to pipeline coverage? How does this change if you are creating vs in an existing market? How does Manny think about specialisation within the sales function? Why are SDR's 99% of the time not able to carry leads to completion?
• How does Manny think about quota construction today? Does Manny err on the side of setting high to be ambitious or setting low to increase confidence? How can managers really empower their reps to be aggressive in hitting their quota and exceeding it? How does Manny think about resource allocation on the individual rep level? What is sufficient? What is excessive?
• Does Manny believe that the founder should always be responsible for selling their product at one moment in time? How did Manny sell the first $1m in ARR simply through walking the streets of SOMA and selling door-to-door? What were his biggest lessons from doing this? Why does Manny believe that you should not have a VP before $5m?

60 Second SaaStr:

1. What does Manny know now that he wishes he had known in the beginning?
2. What does the future of sales prospecting look like to Manny?
3. What would Manny like to change about the world of SaaS today?

Read the transcript on our blog.

If you would like to find out more about the show and the guests presented, you can follow us on Twitter here:

Jason Lemkin

Harry Stebbings

SaaStr

Manny Medina