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SaaS Interviews with CEOs, Startups, Founders

1738 How He Got First Enterprise Customers to Pay $120k ACV's

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 27 April 2020

⏱️ 15 minutes

🧾️ Download transcript

Summary

Sonny Patel is the Founder & CEO at Insurmi, a white-labeled conversational A.I. platform that enables carriers to generate new business online, streamline claims, and provide excellent A.I. driven customer service. He is also a proud #YESPHX business leader who is passionate about helping other founders make their entrepreneurial dreams a reality!
 

 

Transcript

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0:00.0

Hey guys, I'm recording this here on April 5th. It's Sunday. Everyone's trying to survive the crisis.

0:04.7

Quick note to you guys, we are moving. You know, you used to delay these episodes by, you know,

0:09.5

four to eight months after we recorded them in terms of releasing them on the podcast.

0:13.1

We've changed that. A lot of these interviews you're going to hear over the next many months are

0:16.1

going to be ones we recorded only days prior. We think that's a smarter way to run the show. I've made the change.

0:21.9

So expect more urgent information coming out. Secondly, I am getting destroyed on iTunes reviews

0:27.4

by these people that say Nathan's rude. He's hard hitting. Blah, blah, blah, blah. Which, by the way,

0:32.1

I am. It's part of my style. It's what works. The problem is people that love that style never

0:36.5

take the time to go leave a five-star review. So I only get one-star reviews on iTunes. And right now there's a streak of one-star

0:43.0

reviews that is driving me crazy. It would mean the world to me, guys. If you're loving the show,

0:47.5

you love how direct I am, you like the style, if you go leave a review on iTunes now. If you do that and tweet it to me, text it to me,

0:56.2

email it to me, whatever you want, I'm going to reply with a very special surprise. I think a lot

1:00.2

of you guys will really like. It is heavy, heavy data oriented. All right. So I appreciate that.

1:04.5

Thanks, guys. Enjoy the show. Helping with kind of conversational AI on these insurance kind of

1:10.2

websites, whether it's Prudential

1:11.5

or another company. They've got three customers paying 10 grand a month right now, 30 grand a month

1:15.2

in MRR, got most of those through the Global Insurance Accelerator, a team of eight people

1:20.3

based mainly in Phoenix, almost everybody in Phoenix. There again, looking to scale now with,

1:25.4

you know, potentially raising 1.5 million bucks on a note with a cap of around $8 million.

1:29.6

They're spending about $15,000 to acquire a new paying customer.

1:32.6

So 16-month payback too early to talk about churn, obviously with only three customers.

1:37.8

Hello, everyone.

...

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