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Gareth Hewitt

๐Ÿ‘ค Speaker
111 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

And the other being Laura Naisovich, who was the founder of Investran, one of the competitors in private capital.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

And that was led by Sidekick, the VC firm out in New York.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

No, we raised that at the beginning of 2021.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

And that was to bring on board the senior leadership team.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

Beginning of 2021.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

Sorry, end of 2020, beginning of 2021.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

Yeah, so as we brought on the team, it takes about nine months to make an enterprise sale.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

So when we got towards Q4 of last year, we started talking to some firms who are interested in our product.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

Blackstone was one of them.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

We did a proof of contact with them.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

They were incredibly impressed with what we could do.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

And so we saw the ability to extend that seed round to bring them on as a partner.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

You know, what we've been looking for is always strategic partnerships, not necessarily cash.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

And Blackstone is obviously an enormously valuable name and they have a huge amount of experience across asset classes, which can help us in the process.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

just over $4 million, a total of about close to $7 million for the end of that, for the entire year.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

Yes, we increased the valuation, but to let Blackstone in as like an extension to that seat, yeah.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

No, it's all in preferred shares.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

Yeah, exactly.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

About that, yeah.

SaaS Interviews with CEOs, Startups, Founders
Fund management tool breaks $500,000 revenue on way to $1m+ this year

Well, no, because we did it in two stages.