How BizMachine CEO Martin Ondas grew BizMachine to $2.2M revenue and 380 customers in 2025.

launchbizmachine.com as an agency back in 2017 today it's almost it's 90 SAS doing about 1.4 million bucks in Revenue across 250 customers that pound average 350 bucks a month those customers are licensing data and seats from his platform Biz machine to go close more deals so it's a B2B SAS sales tool built and based in Prague and focused on customers that are in Europe hey folks my guest today is Martin nandash he's leading Biz machine the prog based SAS company that builds B2B sales intelligence and prospecting platform for companies in Central Europe the mission is to provide maximum depth of intelligence to Regional BB professionals with specialized insights into e-commerce fintech ICT and automotive automotive Fleet markets Martin you ready to take us to the top hello very nice to be here it's great to have you so give me an example of a customer that's paying you guys today well the range is quite broad um from a small sales teams of the two to four sales people up to an Enterprise with a Salesforce of 250 people um so the Size Doesn't Really Matter for us what's more important is that they're really interested in the regional or local sales Market rather than you know tapping to an international database we go quite deep in individual Industries and in individual use cases for that particular vertical of the customer and so like should we think it'd be like an outsourced SDR agency or are you using technology here to solve this problem we're using technology so uh actually we started as an SDR agency uh kind of a Consulting business about three years ago about 70 percent of our revenues was one of project revenues and at that point uh also with kobit started what year was that Martin uh three years ago early 2020. okay and can I ask you how much revenue and agency Revenue you did in 2020 um who I yeah less than a million dollars okay got it so you had some tree had some traction but you weren't doing you know at that point we decided to invest much more into technology into the platform into self-service Etc especially the mission was to bring the insights and advanced Analytics benefits that a large corporation could buy from us to bring it to a much smaller sales team and we knew that we had to invest much more into the platform so that things are not ad hoc and customized all the time and then they can actually tap to it um today uh this one-off kind of project revenue is less than 17 so 83 percent is our recurring Revenue um and most of that is directly from the platform as a data license and user license uh whether used by users in the user interface or an API to their systems and so Martin what does the average customer pay you per month on the SAS side of things um it's uh four thousand dollars a year so that would be like 350 a month and so what if someone's paying you 4 000 a year how many seats are they getting what's the data license of like what's included in that plan uh they would typically have you know four to five seats so that's kind of The Sweet Spot now we also have others that have 250 seats but the median kind of the the basic packages four to five seats um and we license data and seat separately so either you have very Broad and detailed data sets even if it's one seat it could be quite expensive or you have many seats so we can scale both through depth of data or number of seats that are using a typical license would include both okay very very cool and you mentioned some of your accounts have hundreds of seats or a lot of seats don't name the customer obviously but what is your largest customer pay per year um more than a hundred thousand dollars okay so so interesting and that's and when you say you sell the seats separately from the data license how do you even package and sell a data license what does that even mean it's always a bit of a negotiation so above certain size it's an Enterprise deal obviously and it will with the large customers it will always include user license data license some integration um and maybe even custom work on top of that oh what's going on there YouTube good to see you guys now imagine this you love watching these interviews with SAS Founders but imagine if we took all of the valuation data out from over 2807 interviews I've done manually saves you a lot of time well we've done this we've built the into the beautiful interface inside of founder path check this out I'll show you how you can access this in a second but you log in you connect your stripe account you see your valuation real time you can see what it changed over the past 88 days and even set goals for evaluation this year now the secret evaluation is there's many different ways to value a SAS business so the reason you're going to see three or four different evaluations inside of your founder path dashboard this is all free by the way is because depending on who's doing the buying of your SAS company you're going to get a different valuation a VC is going to pay a different valuation private Equity Firm is different if you're going to do a minority sale that's different and if you sell the whole business that's a different valuation you can see all those when I hover over here right so the teal is what a VC would pay yellow is what private equity and red is if you sold the whole thing outright now what's cool about this is this is not built off random data again you guys hear these interviews on YouTube all these datas are built from Real Time valuation data points Founders share with us on the show so traction 1.2 million seed round 3.7 raise they sold 22 percent of their business go in here and filter by the event maybe you only want to see companies that have sold the whole business well here are a bunch that have been acquired the valuation and the multiple maybe you're going out right now and you're raising your seed round well go in here and look at all this recent seed deals that went down what they raised what valuation they raised at and what percent that they sold there's never been a larger data set of SAS valuation than what you can get now inside of founder path and we're thrilled to bring it to you all right we're gonna go back to the YouTube video here in a second but if you want to check this tool out if you want to jump in and sign up you can check it out for free to get your valuation at this link this link founderpath.com forward slash products forward slash valuations or if you go to founderpath.com and hover over products click on get your valuation here and go ahead and sign up to give it a whirl again all that valuation data live right inside the platform I hope to see you there all right let's jump back into the interview interesting now put this on a timeline for us obviously it's something you pivoted the agency in 2020 to more Tech but when did you launch the agency what year 2017 2017. okay and then you pivot in 2020 and I guess fast forward to today how many customers are you working with 250 customers wow how did you get the first 100 what was the strategy well some of them were transitioned from the agency business to the platform so we knew them we knew what they needed we transitioned them uh all the way at the beginning it was through references mostly and I would say the first 20 or 25 references and at some point we started gold calling that's amazing so 250. almost almost like it looked to their door-to-door Salesforce yeah well sometimes that's the hustle it requires but 250 customers paying 350 per month would mean you're doing about 87 000 per month in Revenue today is it accurate so our total revenue is about 1.4 1.6 million dollars a year okay and that's on but that's because you're adding on the agency revenue on top of the SAS right the 17 that's one time so the SAS only would be uh 1.1 1.3 million yep yep yep and so what do you think what do you think you'll grow to here in 2023 on the south part something like 20 percent okay interesting and are you guys bootstrapped or have you raised Capital totally bootstraps so we had some initial seat funding from the founders uh three of us uh and since then it's a bootstrap now were you guys nice to each other at the start did you split Equity 33 33 33 or what that's exactly what we did at the beginning yes was that the right decision uh maybe not but let's see well tell us what you learned a lot of first-time Founders are listening and maybe they're in the middle of an equity negotiation right now at their first SAS company what can they learn from you yeah look um is always pros and cons uh I'm I'm coming now back and listening to other War Stories of uh what what other entrepreneurs have seen and done and uh if I look at it today of those three founders I'm the only one active now in the company ah so or the other two on a vesting scheduled or did you buy back their equity uh not yet are you working on it not yet we're we're negotiating discussing we had a spin-off Etc so it's it's a bit complex but everything will be right so is that a mistake not to have all the founders on investing schedules because now you have 60 of the equity not active in the company uh I think it was a mistake you know we say we have a saying here that um uh friends need good setup and good friends need even a better setup so you know having a formal structure is not in the detriment of a relationship it's the opposite so it probably um would have been a bit easier but it's interesting interesting okay well...