Capital Efficient Strategy for Generative AI Startups: RavenPack CEO Armando Gonzalez (Part 5)

Sramana Mitra: At this point, you had a customer. You understand your TAM. You are starting to execute. It’s an easier funding situation. Armando Gonzalez: Exactly. Sramana Mitra: How much did you raise? Armando Gonzalez: $3 million. Sramana Mitra: 2008?

Capital Efficient Strategy for Generative AI Startups: RavenPack CEO Armando Gonzalez (Part 4)

Sramana Mitra: What were average deal sizes in what you were selling? Armando Gonzalez: It’s a range. It can be anywhere between the $50,000 to several hundreds of thousand dollars. Sramana Mitra: Recurring revenue? Armando Gonzalez: Correct.

Capital Efficient Strategy for Generative AI Startups: RavenPack CEO Armando Gonzalez (Part 3)

Sramana Mitra: Let’s go to your story. How did you build the company? Armando Gonzalez: In the early days, we were mostly doing research and development and trying to figure out how some of our ideas could apply to different problems. Sramana Mitra: When you got this client who wanted to use your trading technology,

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Capital Efficient Strategy for Generative AI Startups: RavenPack CEO Armando Gonzalez (Part 2)

Sramana Mitra: The use case was investing and trading in stocks? Armando Gonzalez: Yes, it didn’t start that way. It started as a very generic AI platform that could do all sorts of things including trading. We thought it could be used for healthcare diagnostics. We were looking at it from a cybersecurity perspective as

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