John Stewart and his co-founder built MapAnything from Charlotte, North Carolina and Atlanta, Georgia. When we spoke in 2018, he had raised over $40 million in funding, proving that you can build sizable VC-funded SaaS businesses from anywhere. MapAnything was sold to Salesforce in May 2019. Sramana Mitra: Let’s start at the very beginning of
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. John Stewart and his co-founder have built MapAnything from Charlotte, North Carolina and Atlanta, Georgia. When we spoke in 2018, he had raised over $40 million in funding, proving that you can build sizable VC-funded SaaS businesses from anywhere. MapAnything was sold to Salesforce in May
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. John Stewart and his co-founder have built MapAnything from Charlotte, North Carolina and Atlanta, Georgia. When we spoke in 2018, he had raised over $40 million in funding, proving that you can build sizable VC-funded SaaS businesses from anywhere. MapAnything was sold to Salesforce in May
Sramana Mitra: I’ll tell you exactly what happened in your case. You did a Bootstrap First, Raise Money Later strategy. You were going out to raise Series A with $2 million in revenue. You went out to raise Series B with close to $10 million in revenue. These are funding situations where a company that
Sramana Mitra: Let me double-click down a little bit on the team issue. You have built this company from North Carolina? John Stewart: Yes, from the ground up. Sramana Mitra: Talk a little bit about what is the consideration of your company today. What has worked and not worked in building this company from North
Sramana Mitra: What is the pricing model? John Stewart: It’s based on per user per month. Sramana Mitra: What is the average deal size when you’re selling to one of your clients? John Stewart: It varies by segment. We have as little as a single license at a non-profit to as many as thousands at
Sramana Mitra: Was there a specific channel through which you were acquiring customers? Where were you getting the leads from? John Stewart: We built relationships at the ground level at Salesforce. As they were selling deals, especially in the small business segment, they needed integrators who were willing to take those deals and roll out
Sramana Mitra: Why build on top of Salesforce? John Stewart: We had built our MRP system on top of it when I had the manufacturing company. Salesforce’s ecosystem was really starting to explode. It was everywhere. I knew how to build a services business very well. It seemed to be that it was less specialized