SaaS Interviews with CEOs, Startups, Founders
Event SaaS hits $6m in ARR 100% YoY Growth and $128m Valuation on $28m Raise
29 Mar 2023
Chapter 1: What is Goldcast.io and how does it serve B2B marketers?
The easiest way to do that is to go to getlatka.com and use our filtering tool. It's like a big Excel sheet for all of these podcast interviews. Check it out right now at getlatka.com. Goldcast.io for running your virtual event. They have got 200 customers. They're doing $500,000 a month in revenue. That's up from $250,000 a month just a year ago.
They got their $28 million Series A done back in September 2022 at $120 million post-money valuation. Call it. They sold 20%, 23% of the company.
Chapter 2: What significant growth milestones has Goldcast.io achieved recently?
Now 110 folks on the team as they look to scale. Again, 200 customers today charging an average $30,000 per year focusing on B2B brands. Hey folks, my guest today is Palash Soni. He's a Goldcast co-founder and CEO. He got his first days of entrepreneurship charging kids from the neighborhood hourly to play video games on a secondhand console.
He's always been fascinated by legacy companies like Microsoft, Verizon, and Disney that excelled at identifying and writing long-term trends while building resilience. Now he's building a digital events platform for B2B marketers called Goldcast.io. Palash, you ready to take us to the top? I'm excited. All right, tell us the story of one of your customers and why they pay you.
Chapter 3: How does Goldcast.io differentiate itself from competitors like Hopin?
Yeah, Nathan. So one of our largest customers is GitHub. And they started with us in, in May of 2020. And they Started with us doing an event series in Europe for one of their new product launches. So they did an event series throughout the year for 2013 events. And now they have around 30 teams using us, mostly marketing teams doing a variety of
marketing events, right, like product launches, or demand gen events, or events with enterprise customers. And that's what typical use cases look like, right, like marketing teams of different types, you using us to do events with their customers prospects, to serve a variety of marketing event use cases.
That's awesome.
Chapter 4: What are the typical use cases for Goldcast.io's platform?
Now, just to be clear, are you I mean, is this sort of in the hop in visible the Ferris sort of world? Or are you would you say you're different?
Fundamentally, it looks like that, yes. But our focus is more in the niche of B2B marketing teams. So we only go after B2B marketing teams and we are more agile in the way that we can serve the small, you know, 30 to 40 person webinars all the way up to, you know, bigger multi-day, multi-track conferences.
We don't go after like the big, you know, 50,000, 100,000 person trade shows, which is what, you
specialized in we don't do like very complex ticketing and stuff because that's what not you know b2b marketers looking for they're typically looking for you know 30 to 5 000 that's where you know the b2b marketing use cases lie and that makes a lot of difference in how our ufx is how our technology is how our you know everything is and how easy the product is to use
That's awesome. Now, you work with some of the biggest brands in SaaS, Drift, GitHub, Autodesk, Sixth Sense, Hootsuite, User Testing, Zora, Sendoso.
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Chapter 5: How does Goldcast.io structure its pricing and upselling strategy?
You've got a bunch of them on your website here. Help me understand, on average, what are companies paying per month or per year to use the technology?
$30,000.
Okay. And how do you upsell? Is it number of attendees, number of seats, or something else?
Yeah. Since the last time we have spoken, Nathan, it has changed. Now we charge based on number of teams that companies use.
Interesting.
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Chapter 6: What strategies does Goldcast.io employ to acquire new customers?
Yeah. Because last time you upsold, what did you tell me? You said you upsell against number of attendees and features, but now it's just teams. Yes. Interesting. And when we last spoke, you told me you had about 110 customers. Where are you today? 200. 200. Okay, great.
Chapter 7: How can event organizers maximize engagement during digital events?
And I remember you telling me on that episode, this was back in April of last year, you said you were raising a 20 million Series A. Come September, it looks like you got that closed, a 28 million Series A. Is that right?
Yeah, yeah, correct.
That's awesome. There's the first time you announced that you were doing it on the show or had you already sort of started the process?
So we had started the process, Nathan. We had just started at that time.
That's awesome. Well, congrats on getting it done. Are you comfortable sharing the valuation you raised at?
Yeah, Nathan, absolutely.
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Chapter 8: What future plans and growth targets does Goldcast.io have?
We raised it at 120 post money.
And did that feel fair to you at the time?
It did, Nathan. It did. And I'm glad we raised that valuation because it puts us in a very nice spot at this point where we are not overvalued as much and we can put money in the right places. We don't have immense pressure to grow and we are growing very well. We can grow in a decent space and put money in the right places.
And so what is MRR today?
We are at north of 500K.
500,000 a month. That's more than double from exactly a year ago when you were at 250,000 a month. So congrats on the growth. How are you winning deals over Hoppin and so many other players?
Yeah, Nathan. It's honestly just our focus on the persona, right? So our product is honestly the best in the market if you are a B2B marketer. And it shines in three ways. One is that it is the most brandable, right? So if you are a Sixth Sense, our product does look exactly like Sixth Sense. Or if you're an LG, it looks like LG. Second is it is very adaptable to your strategy, right?
So if you are doing...
webinars or if you're doing multi-day events or if you're doing even field events you can you know you can use goalcast and that creates a lot of advantage for teams because you can centralize your data you can use the same product for the entire team and it's just easy you can you know save a lot of money by doing you know using the same product and the same you know license the third is that our integrations and analytics and all the martech functionalities that you know the sales and marketing teams need they are just
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