Six tips for SaaS founders who don’t want VC money

Over the past decade, venture capital has become synonymous with entrepreneurship. Founders from around the world arrive in Silicon Valley with visions of record-setting A rounds and billion-dollar valuations. But what if you don’t have unicorn dreams – or you don’t want to pursue VC money?

Bootstrapping a SaaS company is not only possible – I believe it’s a saner, more sustainable way to build and scale a business. To be clear, bootstrapping isn’t always easy. It requires patience and focus, but the freedom to create a meaningful product, on your terms, is worth more than even the biggest VC check.

I started my company, JotForm, in 2006. We’ve grown steadily from a simple web tool into a product that serves more than 8 million users – without taking a dime in outside funding. We’re profitable in an industry with big-name competitors like Google.

Most importantly, I still love this company and its mission, and I want the same for my fellow entrepreneurs. If you’re a SaaS founder who’s wary of VC funding, here are my best bootstrapping tips.

Keep your day job

Success stories from founders who leap blindly into business without resources or relevant experience are compelling, but they’re the exception, not the rule. Working inside another organization can build your skills, your network, and even inspire great product ideas.

After finishing college with a computer science degree, I worked as a developer for a New York media company. The editors always needed custom web forms, which were tedious and time-consuming to build. I kept thinking, “There has to be a better way.”

That daily frustration led me to start JotForm – but I didn’t leave my job right away. I stayed with the media firm for five years and worked on my product on the side. By the time I was ready to go all-in, I had the confidence, experience and savings I needed.

Many of the world’s biggest companies began as side projects, including Twitter, Craigslist, Slack, Instagram, Trello, and a little venture called Apple. If your day job doesn’t pay enough to fund the early stages of your business, consider a side gig or consulting work. There are so many ways to set yourself up for success without the pressure of VC cash or selling a chunk of your business.

Know you’re not alone

The exact numbers shift every year, but data compiled by Fundable show that only 0.05 percent of U.S. startups are backed by VCs. Another 0.91 percent are funded by angel investors. The vast majority, at 57 percent, are funded by credit and personal loans, while 38 percent get funding from friends and family.

It may feel like most founders raise multi-million-dollar rounds, but that’s simply not the case. It’s also good to remember that securing VC money is complicated and time-consuming. You can spend months taking meetings and presenting the perfect deck – and still leave empty-handed. Be patient and stick to your own path.

Measure profits, not popularity

SaaS founders often emphasize vanity metrics, like user acquisitions and total downloads. These numbers can measure short-term popularity, but they don’t reveal how users and customers feel about your product – or your long-term potential.

Startups – TechCrunch

I just build v0.0.1 of an open source landing page to quickly build a prototype of you startup (saas) company

I built the site using Vue.js and tailwind css

It’s available on GitHub, and I do encourage people to help support the project by adding more text and make it more beautiful. I am not a designer (AI engineer), so it probably isn’t at its peak yet 😂 but hopefully we can get there together

https://github.com/mariusjohan/startup-template

submitted by /u/YouAreCoolerThanMe
[link] [comments]
Startups – Rapid Growth and Innovation is in Our Very Nature!

DataJoy raises $6M seed to help SaaS companies track key business metrics

Every business needs to track fundamental financial information, but the data typically lives in a variety of silos, making it a constant challenge to understand a company’s overall financial health. DataJoy, an early-stage startup, wants to solve that issue. The company announced a $ 6 million seed round today led by Foundation Capital with help from Quarry VC, Partech Partners, IGSB, Bow Capital and SVB.

Like many startup founders, CEO Jon Lee has experienced the frustration firsthand of trying to gather this financial data, and he decided to start a company to deal with it once and for all. “The reason why I started this company was that I was really frustrated at Copper, my last company, because it was really hard just to find the answers to simple business questions in my data,” he told me.

These include basic questions like how the business is doing this quarter, if there are any surprises that could throw the company off track and where are the best places to invest in the business to accelerate more quickly.

The company has decided to concentrate its efforts for starters on SaaS companies and their requirements. “We basically focus on taking the work out of revenue intelligence, and just give you the insights that successful companies in the SaaS vertical depend on to be the largest and fastest growing in the market,” Lee explained.

The idea is to build a product with a way to connect to key business systems, pull the data and answer a very specific set of business questions, while using machine learning to provide more proactive advice.

While the company is still in the process of building the product and is pre-revenue, it has begun developing the pieces to ultimately help companies answer these questions. Eventually it will have a set of connectors to various key systems like Salesforce for CRM, HubSpot and Marketo for marketing, NetSuite for ERP, Gainsight for customer experience and Amplitude for product intelligence.

Lee says the set of connectors will be as specific as the questions themselves and based on their research with potential customers and what they are using to track this information. Ashu Garg, general partner at lead investor Foundation Capital, says that he was attracted to the founding team’s experience, but also to the fact they were solving a problem he sees all the time sitting on the boards of various SaaS startups.

“I spend my life in the board meetings. It’s what I do, and every CEO, every board is looking for straight answers for what should be obvious questions, but they require this intersection of data,” Garg said. He says to an extent, it’s only possible now due to the evolution of technology to pull this all together in a way that simplifies this process.

The company currently has 11 employees, with plans to double that by the middle of this year. As a longtime entrepreneur, Lee says that he has found that building a diverse workforce is essential to building a successful company. “People have found diversity usually [results in a company that is] more productive, more creative and works faster,” Lee said. He said that that’s why it’s important to focus on diversity from the earliest days of the company, while being proactive to make that happen. For example, ensuring you have a diverse set of candidates to choose from when you are reviewing resumes.

For now, the company is 100% remote. In fact, Lee and his co-founder, Chief Product Officer Ken Wong, who previously ran AI and machine learning at Tableau, have yet to meet in person, but they are hoping that changes soon. The company will eventually have a presence in Vancouver and San Mateo whenever offices start to open.

Startups – TechCrunch

All you need to know about Indian SaaS startups and why are they hot, explained – Moneycontrol.com

All you need to know about Indian SaaS startups and why are they hot, explained  Moneycontrol.com
“startups when:1d” – Google News

Maple launches with $3.5 million in funding to become the SaaS backoffice for the family

Much of our daily lives have been transformed in one way or another by technology – and often through intentional efforts to innovate thanks to the advent of new technology. Now more than ever, we rely on shared collaboration platforms and digital workspaces in our professional lives, and yet most of the changes wrought by tech on our home and family lives seem like the accidental effects of broader trends, rather than intentional shifts. Maple, a new startup launching today, aims to change that.

Founded by former Shopify product director and Kit (which was acquired by Shopify in 2016) co-founder Michael Perry, Maple is billed as “the family tech platform,” and hopes to ease the burden of parenting, freeing up parents, aunts, uncles, grandparents and kids to spend more quality time together. The startup, which is launching its app on iPhone and Android for all and onboarding new users from its waitlist over the next few weeks, has raised $ 3.5 million in seed funding – an impressive round for a company just about seven months into its existence. The round was led by Inspired Capital, and includes participation by Box Group, but is also supported by a number of angels who were Perry’s former colleagues at Shopify, including Shopify President Harley Finkelstein.

Perry and his co-founder Mike Taylor, who also co-founded Kit, decided to leave Shopify in order to pursue Perry’s vision of a platform that can help parents better manage their family lives – a platform made up of a social layer, a task-focused list of shared responsibilities, and a bourgeoning service marketplace that looks and feels a lot like the ecosystem Shopify has built for empowering e-commerce entrepreneurs. That’s by design, Perry says.

“I think you’re gonna see a lot of Shopify inspiration in this product – we think we’re the back office of every family,” Perry told me in an interview. “And we think we’re building the app ecosystem of apps, services, all kinds of things that are going to live on this platform that’s going to revolutionize parenting.”

In its current early incarnation, Maple’s primary interface for parents is a list of various tasks they need to take care of during the day. During onboarding, Maple asks parents what they’re typically responsible for in the household, and then uses some basic machine learning behind the scenes to build a customized schedule for getting those things done. Maple has signed on three initial partners to assist with accomplishing some of these tasks, including Evelyn Rusli’s Yumi food and nutrition brand for infants; Lalo, a DTC baby and toddler furniture and gear brand; and Haus, which will be providing date night packages for parents to enjoy for some getaway time.

Maple co-founder Micheal Perry with his son.

The platform will offer users the ability to tap others for help with tasks – these could be other family members added to the household, or the partners mentioned above (the plan is to bring on more, but to gate admittance initially while developing API endpoints that any company can potentially tap into). When interacting with family members, Maple also encourages smalls social interactions, like thanking someone for their help on a particular task or just showing general appreciation. Perry says this is a key ingredient he prioritized in product design.

“We have this cool thing that every day at eight o’clock, we give you an end of the day recap with your family,” Perry said. “So you click on it, and it will show me that, for example, Alex [Perry’s wife] completed three responsibilities for our family today, and how many I did for my family today, and how much help I received from other people today. And directly in app, you can send these cool little ‘Thank you ‘messages and say, you know, I love you, I appreciate you – we’re a great team. And Alex will get those messages. We believe in a world where this can be incredibly dynamic, in many different ways kto kind of bring some love and appreciation and make parenting feel more rewarding and easier.”

Perry is quick to note that what Maple offers today is only the beginning, and it’s clear he has bold ambitions for the platform. He talked about building “the family graph,” or a trove of data that can be used to not only build intelligent recommendations and develop ever more advanced machine learning to optimize family management, but also to provide partners with the tools they need to build products to best serve families. I asked Perry what that means for privacy, given that people are likely to be far more reluctant to share info around their families than they are about their work lives. He said the they team plans to go slow in terms of what it exposes to partners, when, and how, and that they’ll have user privacy in mind at each step – since, after all, Perry himself is a father and a husband and is wary of any incursions on his own private life.

For now, partners like Yumi only receive what users share with them through their own account creation and login mechanism, and they only pass back a basic attribution token – essentially letting Maple know the task was completed so it can mark it off in a user’s list.

Image Credits: Maple

Maple’s partners today are representative of the kind of businesses that might make use of the platform in future, but Perry has a much broader vision. He hopes that Maple can ultimately help parents handle their responsibilities across a wide range of needs and income levels. Right now, Perry points out, a lot of what’s available to parents in terms of support is only available to higher income brackets – ie., nannies and dedicated caregivers. Perry says that his experience growing up relatively poor with a single mother supporting the entire family led him to want to provide something better.

“You have 125 million households in America, you have 3 million children being born every year, you have 30% of the households in America being single parent-run households,” Perry said. “It’s hard. Some people are working one two jobs, most couples are working couples. Every industry that’s changed has been about making things more accessible. In the case of Shopify, at one point building, an online store required hundreds of thousands of dollars and a bunch of skilled people. Now you can start a store for $ 20 in five minutes – 20 years ago, that was unfathomable.”

For Perry, Maple represents a path to that kind of shift in the economics of parenting and a network of family services, including goods, care, leisure and more. The startup has plans to eventually enlist other parents to provide services, which Perry says will unlock part-time income generation for full-time parents, allowing parents to help each other at the same time.

I asked him if he thought people would be reluctant to treat their family lives with the same kind of optimization approach favored by enterprise and commercial platform tools, but he suggested that in fact, not taking advantage of those same technologies in our personal lives is a missed opportunity.

“We believe that, uniquely, we’re living through a generation where we can start creating more time for people,” Perry said. “I think what makes Maple so unique is that no company has approached this by asking ‘How do we create more time for you so that you can spend more time with your kids?’ in the consolidated way that we have.”

Disclosure: I worked at Shopify from 2018 to 2019 while Perry was employed there, but we did not work together directly.

Startups – TechCrunch

Smart Home SaaS Startup Plume Raises $270M Series E, Reaching $1.35B Valuation – Crunchbase News

Smart Home SaaS Startup Plume Raises $ 270M Series E, Reaching $ 1.35B Valuation  Crunchbase News
“startups when:1d” – Google News