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 Nima Sarshar, the CEO and founder of Toggle3D. They discussed how they raised $2m, got acquired, and now IPO for a 3D building tool.

Dasha Vdovina and Nima Sarshar were on the ground floor at Toggle3D.com, which is a 3D studio for everyone. As it is today, Dasha is the head of product and Nima is the founder and CEO. They're incubating it inside the current place they are, but things may change.

About Toggle3D

Toggle3D is a web-based design studio that makes visions come to life. With the rise of the metaverse and VR/XR experiences, Toggle3D is making it possible for people with all levels of 3D modeling experience to create amazing content.

Founded by Nima, Toggle3D is a 3D studio for everyone, providing the tools needed for anyone to create 3D models, from experienced 3D artists to those who have never modeled before. With Dasha as the Head of Product, the team at Toggle3D is poised for success.

Early in 2018, the company raised $2m from a VC, but the founders wanted to focus on building something cool, rather than worrying about the financial aspect. This led to a partnership with a publicly traded company, which has allowed the tech to take off and the team to grow.

P.S. Now, Toggle 3D is ready to spin out and become its own publicly traded company, with Nima as the CEO. They launched last September in beta and now have about 145 users on their platform today.

Challenges

Incubation can be a weird thing and not a straightforward process.

Likely due to various factors such as the unique challenges faced by startups, the need to navigate the different stages of growth, and the need to build relationships with investors, partners, and customers. There are various options for funding a startup and each has its own benefits and drawbacks.

Advice to Other Founders

Consider offering a free pricing plan to help reach virality and attract users to your platform.

Limit the features and access to encourage users to upgrade and continue using your product. The goal is to provide enough value for them to fall in love with your platform and become paying customers. Start by dividing your platform into two major pricing plans and see what works best for your business.

Go public as an alternative to VC funding.

Try alternative paths for raising capital. Going public through the Canadian Securities Exchange has been a great opportunity for Toggle3D. This shows that entrepreneurs should consider all available options for raising capital, and not limit themselves to traditional venture capital funding.

Cater to both experienced and novice users.

By democratizing the process of 3D modeling, you can appeal to both experienced 3D artists and manufacturers, as well as those who have never 3D modeled before. This will help you tap into the growing market for VR/XR experiences.

TL;DR

Early in 2018, the first lines of code raised $2m at a VC and said, "I really don't like raising money. I just want to build something cool. Let me go join someone who can do the money part for me." So they went to a publicly traded company. Now, the tech's starting to take off. They've got a great team with Dasha and Nima working together to launch Toggle3D.

If you believe in the metaverse, 3D objects, and AR, and that the future of content is 3D, Toggle3D is the pickaxe that they are going to sell to that gold miner. They are setting themselves up for success by not spinning out into their own publicly traded company. We'll see what happens next.

P.S. Here is a link to the full interview if you are interested in listening to the full episode: They raised $2m, got acquired, and now IPO for a 3D building tool

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See you again next week.

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