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The intelligent process automation market is expected to grow at 13% CAGR from $10.81 billion in 2021 to $31.4 billion by 2030. New York-based robotic automation company UiPath (NYSE: PATH) recently announced its first quarter results that continue to outpace market expectations.
>>>Sramana Mitra: What are the numbers on Series B and Series C?
Raghu Ravinutala: In series B, we raised about $20 million. In Series C, we raised about $79 million.
Sramana Mitra: That’s a lot of money that you’ve raised. You’d have to build a huge company to return that investment. One of the things I’m hearing from a lot of enterprise startups that sell to the enterprises is that it has become easier to sell to the international market because buyers have become used to evaluating and buying online. Are you experiencing that as well?
>>>If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.
Can you bootstrap a virtual company to over $5 million? Renaissance Periodization CEO Nick Shaw has done just that. He has built a very interesting e-learning company and addressed scalability with nifty strategic choices. You’ll learn a lot from our conversation from 2018.
Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Nick Shaw: I was born and raised in the state of Michigan. I grew up with the goal of wanting to go to the University of Michigan. It’s a top-level school. I was lucky enough to be accepted there. I started in the Sports Management program. I originally wanted to be an athletic director.
The US restaurant POS market was valued at $4.56 billion in 2020 and is expected to grow at 6.4% CAGR from 2021 through 2028. Analysts believe that the industry will see growth of mobile and self-service kiosk segments as companies shift to more affordable options. Boston-based Toast (NYSE: TOST) is hoping to address this demand through product enhancements and partnerships.
>>>Jordan started as a solo entrepreneur in a small province of Canada, Saskatchewan, and has built a heavily funded, high-growth SaaS business. Fascinating journey!
Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, and raised, and in what kind of background?
Jordan Boesch: I’m from Saskatchewan, a province in Canada. I’m the CEO at 7Shifts which is a team management platform. Before 7Shifts, I was a software developer for many years. I ended up working for my dad who ran some Quiznos locations.
>>>Sramana Mitra: You got to a million ARR on the strength of those first 10 customers?
Raghu Ravinutala: No, once we got the 10, we got more. When we were at $1 million, we had 35 to 40 customers.
Sramana Mitra: You didn’t have to raise money until that point?
Raghu Ravinutala: Correct.
Sramana Mitra: How many people were you then?
>>>The global Enterprise Collaboration Market size is expected to grow at 13% CAGR from $47.2 billion in 2021 to $85.8 billion by 2026. Smartsheet (Nasdaq: SMAR) continues to benefit from this high growth trend.
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