SaaS: 80% yoy Growth, Badger Maps Passes $180k MRR

Steve-benson_badger_successiswhat

After receiving his MBA from Stanford, Steven Benson worked in Sales at IBM, HP,and Google where he was Google Enterprise’s Top Sales Executive in 2009. In 2012 Steven founded Badger Maps, the #1 Sales App in the Apple App Store, which helps Field Sales People be more successful.

How do you put touch on such a low price point?

The sales cycle is quick, about 3 weeks, so we’re able to put touch on most free trials even though starting price point is $35 a seat.

Marketing, Sales, and customer success all tied together but manage themselves in pods. There is no variable comp, including the sales roles. Everyone is on salary and everyone owns equity so they can take part in the upside.

What is revenue growth?

Back in December 2016, we were doing $130k, now in August 2017 we’re at about $180k in MRR so about 80% yoy growth rate.

We’re using bank debt, 19% interest rate with LighterCapital, to fund growth because its non-dilutive.

In July 2017 spent about $15k on paid marketing. Has sales team of 30 that works those leads and makes up a larger part of cost structure.

Are you cash flow positive? (Minute 17)

Yes because we’re pulling cash forward in the form of multi-year deals. We incentivize this by giving customers a 20% discount.

Favorite business book is Predictable Revenue.

I’m following Jason Lempkin at SaaStr.

My favorite online tool is Gmail.

Steven has no kids, gets 7 hours of sleep and is currently 39. He wishes his 20-year-old self would choose a career path that he enjoyed, that their are jobs in, and that he was good at.