InsightPool Near $300k MRR Helping 100 Big Brands Find Influencers with CEO Devon Wijesinghe

Devon Wijesinghe

In Episode #563, Nathan interviews Devon Wijesinghe. He’s the founder and CEO of InsightPool. He co-founded the business in 2012; and, within a short time led the company from 2 to 60 employees. He is currently revolutionizing marketing and sales across many social platforms.

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Famous Five:

  • Favorite Book? – The Hard Thing About Hard Things
  • What CEO do you follow? – Travis Kalanick
  • Favorite online tool? — Pardot
  • Do you get 8 hours of sleep?— No
  • If you could let your 20-year old self, know one thing, what would it be? – Try and learn to concentrate on financial metrics and understand finance deeply

Time Stamped Show Notes:

  • 01:27 – Nathan introduces Devin to the show
  • 01:53 – InsightPool focuses on the sector of influencer marketing
    • 02:03 – “A brand needs to have an army of people syndicating their content with their own voices”
    • 02:15 – Insight Cool finds influencers for brands that they can work with
  • 02:35 – InsightPool’s pricing model
  • 03:10 – Average customer pay per month is $3K
    • 03:33 – What is included in $3K
  • 03:53 – Devin was the solo founder
    • 04:00 – Devin sold a previous company for 9-figures in early 2012
  • 04:50 – “Social became prevalent as the newest data set”
  • 05:11 – Devin seeded a business idea for $250K
    • 05:33 – Devin has a formalized angel group
    • 05:41 – Devin is an advisor and investor
  • 05:58 – David Cummings is Devin’s friend
    • 06:17 – David and Devin’s companies are the first ones in ATV lean and tech village
  • 06:48 – He currently has 60 people on the team
  • 07:21 – InsightPool is currently serving over a hundred enterprises
  • 07:50 – MRR
  • 08:23 – InsightPool has a sales team
  • 08:49 – CAC LTV
  • 10:00 – Average spending on CAC
  • 10:25 – Gross churn
  • 11:00 – Net revenue churn
  • 11:53 – InsightPool did a series A round and got an investment of $8M
  • 12:35 – InsightPool did a debt round last year
  • 12:50 – The amount InsightPool is burning per month
  • 14:50 – The Famous Five

3 Key Points:

  1. A brand needs to have an army of people syndicating their content with their own voices.
  2. Go with what you think you are made to do.
  3. Learn how to make the metrics and finance dance – understand it deeply before taking that leap.

Resources Mentioned:

  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
  • Toptal– Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives