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Ahikam Kaufman

๐Ÿ‘ค Speaker
202 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

Because the idea is that you can reliably bring or create a financial data lake, which creates like kind of a unified data set for all the financial systems and link the data together.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

Because in finance, it's all about the linking.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

You want to make sure that the quote is connected to the opportunity in Salesforce, which connects to the right set of invoices or billing, how you bill the customer.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

And only when you do that, you can actually ask the data questions and check the data.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

So that's what we did back at the day in Czech.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

And yeah, that's what worked for us very well.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

So, yeah, so to your point, we raised the initial seed in 2007 from a group of private investors.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

And then we raised our A from a VC called Peak.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

And we raised our B from a fund called Morgenthaler.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

Now it's called Canva.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

And we raised our Series C from Menlo Ventures.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

Doug Carlyle at the time was a partner who retired since then, and he decided to fund us and gave us $25 million in December of 2013, and we paid it back in June of 2014.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

He retired since then, but I think I put it in my LinkedIn.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

They published a post.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

This was like one of their highest IRR because, you know, when you return, when you do like three or four X, which that's what they did over the course of like six to eight months, it's like...

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

I think we were two founders and each of us had like, you know, between five to 10% of the company.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

You know, I think our employees also did very well.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

And, you know, I think it's all about how do you distribute the equity with your employees.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

And by the way, one of the things you learn when you sell a company is that at some point in time, it becomes too late.

SaaS Interviews with CEOs, Startups, Founders
Selling Check for $400M, Now Building a $1.5M ARR AI Startup

You can't reverse this decision.