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 Nida Sahar, the founder of Nife Labs. They discussed how she's raising $500k on $10m right now with $20k MRR.

Nida has been blessed with many empowering opportunities in the past 15 years of her career. Her corporate experience has made her extremely passionate about technology and paved the way for the world of startups.

About Nife

Nife Labs started in May 2020, right at the peak of the pandemic. Nida was stuck in Singapore in a room and didn't know what else to do since it wasn't her country of origin. Her coach advised her to start a company, and that's how it happened.

She's now working on Nife, not just for teaching her how to create technological impact, but also for opening possibilities to become an example for others, specifically other women in tech. Nife is an application lifecycle management platform.

As for a customer story, they have an interesting music app using their platform. They're live streaming their studio production work, where different musicians from various locations jam together. They've deployed their application through Nife.

On average, their customers pay anywhere between $1k to about $1.5k per month. They receive a variety of automation that help them deploy their apps efficiently. They also get performance metrics related to the apps' usage, user behavior, and scaling capabilities across different regions and locations.

Challenges

Finding a co-founder for her startup.

While Nida initially sought a co-founder, it didn’t work out as expected. She was also pressured by some investors to find one, suggesting that there can be differing expectations between founders and investors.

Advice to Other Founders

You don't always need a co-founder to succeed.

Determination and resilience can go a long way in building a successful startup. Nida's ability to handle both technical and business aspects of her company highlights the importance of being versatile. Embrace the opportunity to shine in multiple roles.

Don't be discouraged by modest beginnings

Nida's company experienced significant revenue growth from $1k to $25k per month in just a year. This demonstrates the power of perseverance and gradual scaling. Focus on steady progress and customer acquisition. Rome wasn't built in a day, and neither are successful startups.

Building a lean startup is not a sign of weakness but a path to strength.

This has allowed her to maximize profits and attract investors, showcasing that you don't need a massive team or extravagant spending to make a significant impact. Prioritize efficiency, be resourceful, and stay focused on profitability.

Bonus

Nida’s favorite book is Mindset.
They love using ActiveCampaign because they do a lot of email marketing CRM.
Nida mentioned that she was too serious and nerdish in her 20s so she wishes she knew how to have more fun which she does know now.

TL;DR

The hybrid cloud platform Nife is now generating $25k in monthly revenue, up from just $1k a month a year ago. Their pre-seed round, which closed a year ago, secured half a million dollars at a valuation of over $5m. They are currently seeking to raise $500k with a target valuation of $10m. They have 25 customers, each paying an average of $1k per month. The team consists of 20 individuals, including eight engineers.

PS Here is a link to the full interview if you are interested in listening to the full episode: She's Raising $500k on $10m Right Now, $20k MRR

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See you again next week.

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