How Naehas CEO Rab Govil grew Naehas to $40M revenue and 20 customers in 2023.

guys RAB launched his first company raised 15 million bucks of equity and sold it to RR donelly then went into about call it 2012 time frame launched nahas which is serving financial institutions helping them to launch customize offers to Consumers faster in a more automated way they broke a million dollars of Revenue in 2013 10 million in 2019 last year did 35 and today at a run rate of about 40 million bucks he's done this basically bootstrap caught 2 to 3 million raised early on investors today own 177% ESOP pull of 14% he owns the rest and he's really serving 20 specific Financial customers several of them pay more than $10 million per year so really deep not wide he has said though moving forward he' maybe look at the other hundreds of financial institutions with 10 billion or more in AUM we'll see what he does next hey folks my guest today is RAB goil he's the founder of multiple enterprise software companies including zen8 and nahas which serve some of the biggest brands in financial services he's got a Ms from Rod Hester Institute of Technology and computational imaging where he was the president's scholar he's also serves on the board as a board member at Al for all R you ready to take us to the top sorry AI for all R you ready to take us to the top of course of course very cool so what is nahas give me a customer story how's a customer use you so the best story we can use it is you pick any of the top 10 banks in the country when they want to send a new product create a new product or send a new offer to you we are the organiz we are the platform they use to create the new product or or pricing or a specific offer for a consumer it is approved in our platform the content for that offer is created in our platform it's delivered into the channel using our platform and then when a customer actually takes advantage of this product or offer we are the platform that manages whether they should get the credit once they've achieved their goals so a good example would be Ani in financial services an offer might be hey I'm GNA give you $500 if you instead of instead of a conceptual example I mean is there a case study you've publicly published that we can actually talk about a real example to help people understand what you do yeah of course so let's use uh Bank of America as an example okay right so when you're talking about Bank of America and as example they says I want to create a new product or a new offer right and an offer would be they would go to the market saying is hey if you open up a new checking account or you open up a new credit card account I'm going to give you um $500 as long as you open the checking account you move $10,000 into to the checking account and you connect it to your direct deposit as an example so somehow they have someplace they have to create the offer they have to create the content associated with the offer they make sure that the offer meets all the compliance requirements right then they have to deliver this product or offer into the marketplace and once somebody takes advantage of this offer then they have to make sure that you meet all those requirements before they give you the $500 analytics engine in the back which actually takes all the transactional data that's coming in evaluates it and then tells you that makes a lot of sense okay that's a great case study so you're focused on financial firms Banks you know especially some of the top 10 the top 10 banks in the world um help me understand what these Banks pay on average or any customer pays on average per month or per year to use your technology um it is literally uh I mean we are the infrastructure behind the customer experience so we have customers who pay us anything from a million doll to 10 million in AR okay so you have a couple customers paying you more than $10 million per year yes okay so so like two or three pay more than 10 million per year or is it just like one one one use case um no this is if they if they're using a variety of use cases on a platform right so a platform focus on Financial Services we have a variety of use cases on a platform so if a customer is using a lot of varieties of use cases it it it can be $10 million 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 287 interviews I've done manually saves you a lot of time well we've done this we've built it 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 valuation this year now the secret valuation is there's many different ways to value a SAS business so the reason you're going to see three or four different valuations inside of your founder paath dashboard this is all 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he talked about the zoom info IPO he specifically talked about his $100,000 accounts and his million doll accounts so if you look at if you look at nahas today and you look at how many customers are paying you not could pay you but are paying you million dollars per year is that above 10 yes it's it's almost all our customers pay million dollars a year okay so you you are a low volume high high high arpo go to market motion yes yes we we we are focused on the top 200 to 250 institutions around the world yep yep okay got it so how many I guess how many how many paying customers you work today we're talking a handful 1020 we don't disclose the number of paying customers at this time right to be able to do that because we are doing this but but you can assume right based on our Revenue that um it's it's right now it's in the tens not the hundreds got it and what's your Revenue today our revenue is close to $40 million in and where were you exactly one year ago so we can get a growth rate we are growing about uh about 20 25% year-over-year okay so you've doing about 35 million uh annualized in October last year yeah and and we are and we are also um um we've been um cash flow positive eida positive in the 20% range for a very long period of time oh that's a congratulations that's huge nice work yeah just clear that means you did about $6 million of profits last year bottom line okay wonderful are you bootstrapped as well we are I'm the main investor in the business in terms of doing this we have not gotten any outside we have any outside institutional investment we have some Angel investment but it's a very small amount I think we only raised about2 to three million and what year was that I was almost 10 years ago when did you launch the business what year um the business was launched about 12 years ago okay so 20 what is that 20 201 2011 yeah somewhere in that range I don't even remember specifically the date okay got it and then you rais two to three million in in a seed round back then most folks you know are selling you know call it 20 25% in their seed round is that what you did back then no we rais we raised very little in our seed round it was like $300,000 or something of that sort ah okay so so I think and then we rais a little bit along the way as...