He just hit $60m Revenue but burned $25m net last year. Here's how Market Research SaaS Suzy fixed their runway in volatile economy
SaaS Interviews with CEOs, Startups, Founders
Nathan Latka
4.6 • 702 Ratings
🗓️ 20 December 2022
⏱️ 20 minutes
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Summary
Enterprise Market Research Software.
Transcript
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| 0:00.0 | You are listening to conversations with Nathan Latka, where I sit down and interview the top SaaS founders, like Eric Wan from Zoom. |
| 0:13.6 | If you'd like to subscribe, go to getlatka.com. We've published thousands of these interviews, |
| 0:19.5 | and if you want to sort through them quickly by |
| 0:21.8 | revenue or churn, cack, valuation, or other metrics, the easiest way to do that is to go to |
| 0:27.4 | gitlatka.com and use our filtering tool. It's like a big Excel sheet for all of these |
| 0:31.9 | podcast interviews. Check it out right now at getlatka.com. |
| 0:41.6 | Susie is helping big enterprise plans like Procter and Gamble at Gillette do market research. |
| 0:44.8 | They've got over 400 customers paying an average $140,000 a year. |
| 0:49.3 | I just passed a $60 million AR run rate, call it this week, this month, up from $40 million just a year ago up and passing about $20 million back in 2020. |
| 0:52.9 | So really healthy growth rate. |
| 0:54.9 | They did burn 25 million net burn last a year. But obviously that was the heyday. Now they've re-corrected things. |
| 0:59.4 | They've got plenty of runway to get through the end of next year and even further where they hope to |
| 1:02.7 | break a sort of 80, 90, $100 million run right. Hey, folks. My guest today is Matt, Brittany. He's the founder and CEO of Susie and Best Song author of Youth Nation. |
| 1:10.9 | Matt, you're ready to take it to the top? You got it. All right. Now, you're regular, man. |
| 1:14.8 | I feel like I had you on back, gosh, for the first time in early 2020 and then another time in |
| 1:20.4 | 2021. And your story is unique in that I think you had your own agency that you sold before |
| 1:25.6 | you went into your SaaS. Is that accurate? Yeah, we incubated |
| 1:29.0 | what became known as Susie Lai while still running my agency, MRI. The agency was acquired, |
| 1:34.2 | but we had spun out the software company before the agency was acquired. And then after my earnout |
| 1:38.7 | ended at the agency, I rejoined the CEO. Back then it was called CrowdTap, rebranded Asusie, |
| 1:43.8 | and we launched in 2018. |
| 1:45.8 | So that's amazing. So talk about what you're working on today and sort of maybe give an example |
... |
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