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Founder Interview

How SalesPanda Reached Nearly $400K ARR with 8 to 10 Enterprise Customers Bootstrapped (Interview with CEO Samit Arora)

Interview Date
August 5, 2021
Interviewee
Samit AroraCEO
Watch
Watch the full interview

Company Metrics at Interview Time

ARR (2021)

Nearly $400K

Contract Value Range (2021)

$30K to $150K

Historical Snapshot

These numbers were reported by Samit Arora during the interview recorded in August 2021 and are a historical snapshot, not current figures. See Salespanda’s current numbers.

Key Takeaways

  • 01SalesPanda was at nearly $400K in ARR as of August 2021, up from approximately $250K at a prior check-in
  • 02The company serves eight to 10 large enterprise customers, including some of the top 10 insurance and financial services companies
  • 03Average contract value ranges from $30K to $150K ARR per customer
  • 04The business is fully bootstrapped with a team of around 20 to 25 people
  • 05MRR was approximately $30K to $35K at the time of the interview
  • 06Samit Arora has over two decades of enterprise sales experience, which he credits for closing large accounts
  • 07Growth strategy centers on account-based marketing targeting a curated list of around 200 accounts
  • 08Land-and-expand model drives revenue growth as enterprise customers scale from pilot to thousands of users
  • 09SalesPanda is expanding cross-vertically into eduTech and healthtech, and geographically into ASEAN markets
  • 10Samit started the company at age 38 and has no plans to sell or raise funding in the near term

Company Metrics at Time of Interview

MetricValueSource
ARR (2021)Nearly $400KFounder interview, Aug 2021
MRR (2021)$30K to $35KFounder interview, Aug 2021
Customers (2021)8 to 10Founder interview, Aug 2021
Avg Contract Value (low end) (2021)$30KFounder interview, Aug 2021
Avg Contract Value (high end) (2021)$150KFounder interview, Aug 2021
Team Size (2021)20 to 25Founder interview, Aug 2021
External SMEs and Consultants (2021)15Founder interview, Aug 2021
ABM Target Account List (2021)200Founder interview, Aug 2021

Growth Breakdown

Revenue

SalesPanda reported nearly $400K in ARR at the time of the interview, up from around $250K at a prior conversation. MRR was running at $30K to $35K, driven by a land-and-expand model where enterprise customers start as pilots and grow into larger deployments.

Customers

The company serves eight to 10 large enterprise customers, including some of the top 10 insurance and financial services companies in India. Each customer typically has 1,000 or more users on the platform, and contract values range from $30K to $150K ARR.

Team

SalesPanda has a core team of around 20 to 25 people, supplemented by approximately 15 external SMEs, consultants, and long-term partners engaged on a need basis. The team is based in New Delhi, India.

Funding

The company is fully bootstrapped. Samit Arora has no immediate plans to raise external funding, stating he wants to execute on cross-vertical and cross-geography expansion before considering outside capital.

Growth Strategy

Account-Based Marketing

Samit credits deep account-based marketing as the primary growth driver. The team maintains a curated list of around 200 target accounts, maps executives via LinkedIn, and runs a combination of newsletters, ads, and targeted outbound outreach to nurture and close deals.

Land and Expand

SalesPanda enters enterprise accounts as a pilot customer for three to six months, then expands as the customer scales from hundreds to thousands of partners on the platform. This model drives significant revenue growth within existing accounts without requiring a large new customer count.

Cross-Vertical Expansion

The company is expanding beyond its core financial services and insurance vertical into eduTech and healthtech, targeting partner automations for tutors, resellers, branches, and franchisees.

Geographic Expansion into ASEAN

SalesPanda is building a presence in the ASEAN region, with active prospecting in Indonesia, Singapore, and the Philippines. Samit noted that Indonesia is particularly attractive due to its large agent-based distribution networks.

Enterprise-First Motion

Samit's two decades of enterprise sales experience informed a deliberate decision to start with large enterprise accounts rather than SMB inbound. This approach delivers higher contract values and meaningful upsell and cross-sell opportunities over time.

Best Quotes

“So we are in the enterprise space, you know, like when I say enterprise means real enterprise. So, you know, we have some of the top 10 insurance companies, top 10 financial services companies. So we have a couple of SMBs, but we have almost eight to 10 large enterprise customers, Each of them having a thousand plus users there.”
“See, we on a month, our ticket size is somewhere around on an annual basis, I'm saying our contract value is somewhere between 30 k to almost 150 k ARR, I'm saying. So $30, $40 k to 150 k ARR.”
“we spoke, I think in December, are around 250 ks. I think we almost like 400 k now.”
“We've added some CR. If you look at a couple of years back, we used to get a customer for five, six months. Then it came about it. Now we're getting faster While we get a customer as a pilot customer initially, right? For three months, six months, and then the revenue goes. Because if you know these organizations, typically they have thousands and thousands of partners, right? So they start with 100,000, 2,000, 5,000. Yeah. So so the one it's a land and expand kind of a model where you engage and continuously engage with these customers.”
“We do a very deep account based marketing. So I exactly know which are those 200 accounts I have to go and close in the next one year. We have mapped every executive from LinkedIn. We have the data. We keep nurturing them. We send newsletters. We have ads. So, we actually do a very, very targeted outbound account based marketing digital as well as, you know, insights. So that's what we do across the country.”
“I've been an enterprise seller for almost more than two decades. That's what I've done throughout my life. So, maybe that's the reason I started top down with enterprise first.”
“Right now, not up for sales. So I tell you, you know, what we want is the plan I told you, let me execute that in the year. Right? And when we have cross vertical, cross geography platform, that's when we maybe we'll we'll be open for funding also that time because I don't think money solves all the problem.”
“The team size has grown by four, five people. So we are around twenty, twenty five still. But see, what we do is we have almost like 15 people outside. We look at SMEs, consultants, partners, and these are like long term partnerships in different areas.”

What Happened Next

This interview captured SalesPanda at a moment when the company was nearing $400K in ARR with eight to 10 enterprise customers, all bootstrapped. Samit Arora was targeting $1M in ARR through cross-vertical and ASEAN geographic expansion. These figures reflect the state of the business in August 2021 and are a historical snapshot. Visit the SalesPanda company profile on GetLatka for the most current available data.

View Salespanda’s current profile and metrics

Full Transcript

Chapters

Introduction and Company Overview

Nathan Latka

00:00Hey, folks, my guest today is Samit Arora. He's a SaaS entrepreneur specializing in channel digital marketing. His company SalesPanda is our flag is their flagship product for partner relationship management covering recruitment, onboarding, enablement, sales and marketing with brand control and deep analytics. Samit, are you ready to take us to the top?

Samit Arora

00:16>> Absolutely.

Nathan Latka

00:17Okay. Tell us a little bit more about what this means. Can you give an example of a company that's using you?

Samit Arora

00:22>> Yeah. So, see, we are in the PRM space, partner relationship management. If you look at the current growth in the digital world, you know, we're moving towards what McKinsey calls, we call it ecosystem 2.0. You know, it's a collaborative ecosystem that is being built. Right? So the channel relationships become important. You work with you take any example of any vertical. Our biggest vertical right now is financial services and insurance. So you have insurance agents, you have

00:52>> distributors, you have branches, you have sales teams. So how do you ensure that you automate digital via the channels as an ecosystem, right? Most of the people focus on direct to customer digital rights. We focus on the PR and the partner relationship. So how do you recruit partners? How do you onboard them, enable them? How do you automate the marketing sales? And, but we have a cross industry solution. BFSI is right now our strongest forte, but

01:17>> we are now expanding to edge tech, edge tech, those areas.

Nathan Latka

01:20And Samit, how many customers do you have today?

Enterprise Customer Base and Scale

Samit Arora

01:23>> So we are in the enterprise space, you know, like when I say enterprise means real enterprise. So, you know, we have some of the top 10 insurance companies, top 10 financial services companies. So we have a couple of SMBs, but we have almost eight to 10 large enterprise customers, Each of them having a thousand plus users there.

Nathan Latka

01:41Okay. And what do they pay per month on average?

Contract Values and Pricing

Samit Arora

01:45>> See, we on a month, our ticket size is somewhere around on an annual basis, I'm saying our contract value is somewhere between

01:57>> 30 k to almost 150 k ARR, I'm saying. So $30, $40 k to 150 k ARR.

Nathan Latka

02:03Okay. And so, how much MRR did you do last month?

Samit Arora

02:08>> So we are maybe crossed around $30, $35 ks MRR there.

Nathan Latka

02:1135?

Samit Arora

02:12>> Okay.

Nathan Latka

02:12That's Yeah. Nice time

MRR and ARR Growth

Samit Arora

02:15>> we spoke, I think in December, are around 250 ks. I think we almost like 400 k now.

Nathan Latka

02:20That's great.

Samit Arora

02:21>> I'm looking at maybe smart revenue at least the bookings to double by December when we meet next week.

Nathan Latka

02:27No. I love that. Congrats on the growth. Now you you I don't think it sounds like you've kept the same amount of customers, but your revenue has increased. Are you just expanding revenue into your current customers? Is that where the growth is coming from?

Land and Expand Growth Model

Samit Arora

02:40>> We've added some CR. If you look at a couple of years back, we used to get a customer for five, six months. Then it came about it. Now we're getting faster While we get a customer as a pilot customer initially, right? For three months, six months, and then the revenue goes. Because if you know these organizations, typically they have thousands and thousands of partners, right? So they start with 100,000, 2,000, 5,000. Yeah. So so the one

03:05>> it's a land and expand kind of a model where you engage and continuously engage with these customers.

Nathan Latka

03:10Mhmm. Yeah. Very cool. And then have you done all this bootstrapped or raised?

Samit Arora

03:15>> Bootstrapped still.

Nathan Latka

03:17We love that. How many people on the team?

Bootstrapped and Team Size

Samit Arora

03:21>> The team size has grown by four, five people. So we are around twenty, twenty five still. But see, what we do is we have almost like 15 people outside. We look at SMEs, consultants, partners, and these are like long term partnerships in different areas. 2025 we announced ten fifteen outside a need based.

Nathan Latka

03:40Very cool. Okay. So 25 on the team and tell me a little bit about how you're going to grow. How do you get to a million dollars a year in revenue?

Path to $1M ARR

Samit Arora

03:48>> So that's the question. Yeah. So in fact, that's the exercise we were doing this month and looking at where the growth comes in. So what we've done is in the enterprise space, we've now building the entire PRM space a little deeper, right? The next close comes A by the number of modules we add, right? Plus we are looking at cross industry expansion like I told you. We entering eduTech and healthtech because they also have ecosystems. So

04:14>> you look at partner automations for tutors and resellers, branches, franchisees. Till December, that's the plan because we we are enterprise based. So we cannot so it's not an inbound, mostly outbound right now. So January onwards, can I'm assuming we can travel. We're getting some traction in the ASEAN region, Singapore, Britain, Asia. We've done almost 15 demos. That's the next growth which comes from the geography. So you add, expand the product cross vertical, cross geographies. Mhmm. And

04:43>> then next year, they probably will look at SMB inbound product also. That's up in the plan. So so multiple areas to grow there.

Nathan Latka

04:51And what would you value the business at today?

Valuation and Funding Plans

Samit Arora

04:56>> I never thought so. I'm just looking at doubling my revenue. So I need to touch the million mark as soon as possible. That's my first target. I'm not looking at any valuation right now, honestly.

Nathan Latka

05:08I know it's on me. If one of us, one of these folks watching on YouTube or listening here on iTunes, if they say, wanna buy a company for a million dollars all cash upfront, do you sell? No. What's the number?

Samit Arora

05:20>> Right now, not up for sales. So I tell you, you know, what we want is the plan I told you, let me execute that in the year. Right? And when we have cross vertical, cross geography platform, that's when we maybe we'll we'll be open for funding also that time because I don't think money solves all the problem.

Nathan Latka

05:39How did you close these enterprise customers? A lot of people struggle closing $30, $40, $50,000 ACV accounts.

How SalesPanda Closes Enterprise Accounts

Samit Arora

05:46>> I've been an enterprise seller for almost more than two decades. That's what I've done throughout my life. So, maybe that's the reason I started top down with enterprise first.

05:57>> So we do a I'll tell you how we do it if you want to understand. We do a very deep account based marketing. So I exactly know which are those 200 accounts I have to go and close in the next one year. We have mapped every executive from LinkedIn. We have the data. We keep nurturing them. We send newsletters. We have ads. So, we actually do a very, very targeted outbound account based marketing digital as well

06:19>> as, you know, insights. So that's what we do across the country.

Target Account List and ASEAN Expansion

Nathan Latka

06:23So what does your total sort of hit list look like? All of your customers in your list, how many total are there potentially?

Samit Arora

06:29>> So it's by country, right? So we do it by country, by vertical. So within the vertical, we do sub verticals. So like, you know, in India, have around twenty, thirty top insurance companies. So you're looking at least you're getting 12 out of those, right? So, and each of them can have 10,000, 5,000 plus users. That's how we look at. So then we also filter out. Not every customer would have a channel network. They might not be

06:54>> relevant for us. So we do a lot of background research. And even if you get 200, 300 good accounts to filter in one geography, then right now we're doing Indonesia. Indonesia looks to be a very good country for us because it's an agent based country, huge population, huge agent network. We're looking at Singapore, Philippines. So that's where we are trying to bring the groundwork. So whenever you open the pandemic and allow us to travel, we are

07:18>> ready.

Nathan Latka

07:19Very cool. And talk to me more about India. You're based in New Delhi. There's a lot of great SaaS companies coming out of India. You you look at Freshworks, look at Document three sixty and Kovai where he sells an office down in Pune, I believe. And then you've got, you know, others like Kissflow. What are some of the fastest growing companies you're seeing in New Delhi?

Samit Arora

07:37>> Wingify is one. I mean, we've already looked up from them.

Nathan Latka

07:40Wingify?

Samit Arora

07:41>> Yeah. In Delhi, otherwise, I'm part of the SaaSBoomi group and we keep deeply engaged with each other on a daily basis. So most of the companies, like you said, are more of inbound SaaS models, maybe might be an exception where I started enterprise first. So, but enterprise, yeah, enterprise gives you growth in terms of upsell, cross sell and volumes.

Famous Five: Books, Tools and Habits

Nathan Latka

08:05Yeah. No. You're that's all accurate. Samit, let's wrap up here with the famous five. Number one, what's your favorite book?

Samit Arora

08:12>> I'm looking at right now Hooked, you know.

Nathan Latka

08:15Hooked by Nir Eyal. Yeah.

Samit Arora

08:17>> It's a building habit forming product. In fact, I'm trying to implement some of the hacks into the product there. Let me see if it works.

Nathan Latka

08:23Number two, is there a founder you're following or studying?

Samit Arora

08:28>> In India, I I look up to Freshworks, the Girish. I mean, he's been an inspiration. Otherwise, my all time favorite has been Steve Jobs. I mean, he's no more, but, know

Nathan Latka

08:39Number and number three, what's your favorite online tool for building SalesPanda?

Samit Arora

08:44>> See, nowadays, in fact, every tool in fact, I was looking, reading, listening to some of your podcast and some of the, you know, every tool I was looking at, you know, really inspiring there. But I I like intercom as one of the tools we've been using. And plus, what do we use? Yeah, Jira. I mean, for development, you know, that's a base bread and butter tool for all developers. They love it.

Nathan Latka

09:10Number four. How many hours of sleep do you get every night?

Samit Arora

09:14>> I sleep well. I sleep seven to eight hours.

Nathan Latka

09:16That's good.

Samit Arora

09:17>> And situation, married, single, kids?

09:20>> I have two kids. I have two daughters.

Nathan Latka

09:22Okay.

Samit Arora

09:22>> So married with

09:23>> two Okay.

Nathan Latka

09:25How old are you?

Samit Arora

09:27>> I am 40, almost I think 48 now.

Nathan Latka

09:3048 or 40?

Samit Arora

09:31>> 48. 48.

Nathan Latka

09:32Okay, very good. Last question. What's something you wish you knew when you were 20?

Samit Arora

09:40>> I think I answered that earlier since I if I had got an opportunity, I would have started much earlier at maybe twenty twenty five. I started almost 38.

Nathan Latka

09:48Guys, there you have it. Start a company consumer consumer salespanda.com is an enterprise motion, 10 enterprise accounts that grew from $20,000 a month in revenue a year ago to $35,000 a month. Today, they're doing this all bootstrapped. They're profitable with a team of 25, 12 engineers building all this in New Delhi. Samit, thanks for taking us to the top.

Samit Arora

10:07>> Thank you. Pleasure talking to you as always.

Nathan Latka

10:11One more thing before you go. We have a brand new show every Thursday at 1PM Central. It's called Shark Tank for SaaS. We call it deal or bust. One founder comes on, three hungry buyers, they try and do a deal live and the founder shares back end dashboards, their expenses, their revenue, ARPU, CAC, LTV, you name it, they share it and the buyers try and make a deal live. It is fun to watch every Thursday one

10:36p. M. Central. Additionally, remember these recorded founder interviews go live. We release them here on YouTube every day at two p. M. Central. To make sure you don't miss any of that, make sure you click the subscribe button below here on YouTube, the big red button and then click the little bell notification to make sure you get notifications when we do go live. I wouldn't want you to miss breaking news in the SaaS world, whether it's

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11:19saying. Sign up for that at nathanlatka.com slack. In the meantime, I'm hanging out with you here on YouTube. I'll be in the comments for the next thirty minutes. Feel free to let me know what you thought about this episode and if you enjoyed it, click the thumbs up. We get a lot of haters that are mad at how aggressive I am on these shows, but I do it so that we can all learn. We have to

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