EP 555: Sudo.ai Raises $2.3M at $10.3M Post Money Valuation to Fix CRM Space with CEo Francisco Larrain
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Who is Francisco Larrain and what is his background?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per top. Five and six million. He is hell-bent on global domination. We just broke our 100,000-unit soul mark.
What problems does Sudo.ai aim to solve in the CRM space?
And I'm your host, Nathan Latka. Okay, Top Tribe, this week's winner of the $100 is Zach Faron. He's a 22-year-old Apple employee, and he's listening to the show and loving it. For your chance to win $100 every Monday, simply subscribe to the podcast on iTunes now, and then text the word NATHAN to 33444 to prove that you did it to enter. Folks, many of you reach out to me and you say, Nathan, so many guests on your show talk about the importance of batching. But whenever I try and batch, you tell me this. You go, Nathan, they don't book back-to-back times. Or they don't show up after they book.
How does Sudo.ai plan to improve data entry for sales teams?
It's frustrating. The answer is, guys, you have to use smart tools. I use a tool called Acuity Scheduling at NathanLatke.com forward slash schedule. I'll tell you specifically how I use it later on in the episode. Coming up tomorrow morning, you'll learn from Andre Breeze. He's the Bant CEO.
What is the current status of Sudo.ai's product development?
They've invested 32 grand in monthly recurring revenue, helping companies get higher quality leads with a touch of professional services. Top drive, what's going on? Nathan Latka here. Our guest today is Francisco Lorraine, and he's been an entrepreneur for most of his life, born and raised in Chile. Now, previously, he founded a company called Zappedly, a payments technology company that was backed by Eric Schmidt's venture fund and acquired by Groupon. Before that, he ran a $2.5 billion special situations hedge fund with Trigger Power. We'll get into that in a second. And most recently, he led the project engineering team of 100 plus people for Groupon's local business. Now he's working on enabling high quality work for corporations and their teams.
We also have his co-founder and head of product with us, Amit. Guys, are you ready to take us to the top?
Hey, how are you?
So, you know, we're talking to a startup when you see the head of product chugging Red Bull at like, you know, 11 a.m. on a freaking Tuesday. Amit, what's going on, man?
Late night coding, man. Late night coding. Lots of issues to work through, lots of problems to make sure we get this right.
So what's the breakdown here? Are you guys, Amit, are you doing all the coding or Francisco, are you doing coding as well?
How much funding has Sudo.ai raised and from whom?
No, we have a team of about nine people now and we all code and we all get our hands as dirty as possible to make sure that this thing moves quickly.
Amit puts his hands dirty on the product and I try to build and manage the algorithm part of the system.
So, Francisco, before we get more into what Sudo does and how you guys hope to kind of really reinvent this industry, tell us a little bit more about about your background. So specifically, we know we have folks from hedge funds and PE firms on here all the time. What was the hedge fund you were running and help our audience understand what trigger power means?
Means that I could make decisions based on whatever I wanted on the investments. And this was a hedge fund that, you know, I ran previously in Chile and for who became the president of the country, Sebastian Piñera. So it was his family office or his own money, but it operated like a hedge fund and a very successful one. When I arrived there, the size of the hedge fund was 300 million.
What factors influenced the valuation of Sudo.ai?
And when I left, it was 2.5 billion. So we had a really good ride there. And but, you know, I really wanted to move into the creativity aspect of things. I was very strong technically. So I decided to come to the GSB to do at Stanford to do an MBA. And out of that, I started building my career as an entrepreneur here in the Valley. like an immigrant and, you know, trying to create jobs and disrupt industries.
So what side do you like better, the money side or the entrepreneur side?
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Chapters
8 chapters
1
Who is Francisco Larrain and what is his background?
0:00–0:24
2
What problems does Sudo.ai aim to solve in the CRM space?
0:24–1:01
3
How does Sudo.ai plan to improve data entry for sales teams?
1:01–1:18
4
What is the current status of Sudo.ai's product development?
1:18–2:26
5
How much funding has Sudo.ai raised and from whom?
2:26–3:30
6
What factors influenced the valuation of Sudo.ai?
3:30–4:07
7
What insights does Francisco share about his previous entrepreneurial success?
4:07–4:40
8
What advice does Francisco have for his younger self?
4:40–22:54