Building a Venture Scale FinTech SaaS Startup: Mike Whitmire, co-founder and CEO of FloQast (Part 6)

Sramana Mitra: What’s AI doing to your business?

Building a Venture Scale FinTech SaaS Startup: Mike Whitmire, co-founder and CEO of FloQast (Part 5)

Sramana Mitra: So, Series C is the last round of funding, or is there more?

Building a Venture Scale FinTech SaaS Startup: Mike Whitmire, co-founder and CEO of FloQast (Part 4)

Sramana Mitra: How does the competitive landscape map out?

Building a Venture Scale FinTech SaaS Startup: Mike Whitmire, co-founder and CEO of FloQast (Part 3)

Sramana Mitra: And how long did that $6.5 million last?

Mike Whitmire: We did extremely well in 2016 and the first half of 2017. We more than tripled our recurring revenue. Then we were approached proactively about raising another round. The investor was great, the terms were strong, and I was ready to scale further. We fielded a few term sheets, found the right partner, and raised our Series B—$25 million led by Insight.

Building a Venture Scale FinTech SaaS Startup: Mike Whitmire, co-founder and CEO of FloQast (Part 2)

Sramana Mitra: So, when you started going after companies that looked like Cornerstone, were you doing that as a bootstrap company or a venture-funded company?

Mike Whitmire: We had taken a small seed round of funding. We raised $1.3 million at the time to build out the first iteration of the product and prove we could go to market. We were working with a small budget because I wasn’t in a position to burn a lot of cash. I had to be very prudent with the funds we had.

Building a Venture Scale FinTech SaaS Startup: Mike Whitmire, co-founder and CEO of FloQast (Part 1)

Mike has raised over $300M and built an over $250M ARR FinTech SaaS business. Now, AI offers FloQast an opportunity to further strengthen their product roadmap with deep domain knowledge.

Building a Legitimate, Profitable FinTech Unicorn Using AI: Cynthia Chen, Founder of Kikoff (Part 7)

Sramana Mitra: Interesting. Where are you now in terms of metrics or objectives? Where are you and where are you going from here?

Building a Legitimate, Profitable FinTech Unicorn Using AI: Cynthia Chen, Founder of Kikoff (Part 1)

In the past year, 330 out of 1200 Unicorns have lost status. You read a lot about Unicorns that raise lots of VC money and then fail to scale. Cynthia Chen tells a very different story. She has raised about $43M and built a highly profitable $100M+ ARR company called Kikoff. Read on to learn how.