Hey - Marc here.

Happy Saturday morning, motivated B2B SaaS Founders!

Here's at least one tip to keep in mind as you grow your B2B SaaS company:

Today's issue takes about 5 minutes to read.

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In today's issue, I share some key takeaways from a recent interview between Nathan Latka, the host of Daily Interviews with SaaS Founders, and Matt Doyle, the CEO and founder of Array. They discussed his document management SaaS that hit $90m ARR recently and took $30m secondary in the last round.

Matt Doyle has a fascinating entrepreneurial career that includes opening the markets at the NASDAQ launch with Richard Branson and a failed professional snowboarding career. He is a hands-on visionary whose leadership drives the team forward to overcome obstacles by following the guiding principles: listen hard, change fast, think big, and start small.

About Array

Array works with big enterprises like Walmart and those who need to take operations-type paperwork and displace legacy systems to the next level. You can do signatures, repeatable fields, conditional logic, mathematical equations, food safety checks, audits, and compliance. Their application works offline, too.

They launched LaunchCloud seven years ago as an MVP and worked directly with field marketing companies and brands like Nintendo, Bosch, and Coca-Cola and found that the problem with that market was it was kind of erratic — one minute you have a campaign going on, and you’re the biggest thing, but then the campaign comes to an end well it's like you're forgotten.

So then, in 2018, he moved to America. They rebranded, became Array Builder, and focused more on operation and risk. They started working on new functionality with the product that lent itself to the industry — and that was the first time they raised money.

P.S. Their biggest paying customer pays 20k per month. The average team signing up is paying $1k monthly for 15-20 seats.

Challenges

The first-seat licensing didn’t always make sense.

Any founder will probably find that SaaS pricing models make sense to a point, but as soon as you get to the higher volumes, it suddenly may not be for different reasons. You could have clients with thousands of users but only fill in forms once or twice a week.

Advice to Other Founders

Let people try out a free version as they approach new technology.

For example, doing field-based work will be extra helpful because you can set up a free account in Array. It has a limitation on submissions, designed for trying to start doing offline data collection. They have mobile applications available for IOS and Android.

Bootstrapping is a blessing and a curse.

It's a blessing because you don't have to worry about making mistakes behind the scenes. But if you can't figure out how to get many customers quickly, it can be challenging for B2B companies to stay afloat. They did not have viral ways to acquire enterprise-level customers; they felt they needed to raise capital and pay their staff better.

You have to give a solid spec to get success with an outsourced firm.

Most agencies want to avoid taking on someone else's code. But many founders, when working with outdoor firms, expect the firm to do everything for them. You don't need a complex scope if you're building from scratch; breaking those down into small sprints goes a long way.

Remove complexities in your pricing.

The more complex your pricing structure is, the more difficult it is for customers to understand and use your products. Don't stop your customers from using your products to their full potential; make sure they have all the information they need to experience it fully.

Bonus

Matt's favorite business book is "Crossing the Chasm" by Geoffrey Moore.
Everyone's following Elon Musk, but he's always been a big fan of his, even before it was cool.
Now, at 37, he's married with two kids, a dog, and a cat.
Matt wished he knew in his 20s that startups are very kinetic and physical and can take a lot out of you. Always keep hold of your innocence and excitement about things.

TL;DR

Buildarray.com is like an enterprise version of Typeform. They've got their biggest customer paying almost a quarter million bucks annually. They're doing $50k a month in revenue, up from $20k a year, going up from $10k a month back in 2020 when they raised a $1.3m seed round with a $7m cap. They're building efficiently with 80 customers paying between 500 and a thousand bucks a month on average. A team of 6, they outsource some of their engineering from simform.com as Matt looks to scale.

P.S. Here is a link to the full interview if you are interested in listening to the full episode: Typeform On Steroids Hits $50k in MRR up from $20k 1 year ago

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See you again next week.

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