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Interview

How Slintel Built a 30-Person Sales Team, Reached 200 Customers and Grew 5x in a Year (Interview with Sales Leader Anupreet Singh)

Interview Date
June 10, 2021
Interviewee
Anupreet SinghSales Leader
Watch
Watch the full interview

Company Metrics at Interview Time

Customers (2021)

200

Year-over-Year Growth (2020)

400% (5x)

Series A Raise (2021)

$20M

Paid Ad Spend (2021)

$200K per month

Year Founded

2018

Historical Snapshot

These numbers were reported by Anupreet Singh during the interview recorded in June 2021 and are a historical snapshot, not current figures. See Slintel’s current numbers.

Key Takeaways

  • 01Slintel reached 200 customers at the time of the interview in June 2021
  • 02The company grew 5x in 2020, the year before the interview
  • 03A $20M Series A from GGV Capital was announced on the day of the interview
  • 04The company raised $4.2M in a prior round in 2020
  • 05Slintel was spending about $200K a month on paid ads and drove about 700 to 800 leads a month overall, though Anupreet said it was very difficult to attribute a lead directly to paid spend
  • 06The sales team comprised 30 people including 20 SDRs and 10 AEs, with 10 CSMs in a separate function
  • 07Each AE carried a quota target of $30K per month in new ACV, with many overachieving at 150 to 200%
  • 08Slintel had landing pages for about 15 million companies and was building pages for its 250 million people profiles as part of its organic SEO strategy
  • 09The company offered annual-only contracts with a pool of export credits that rolled over year to year
  • 10First-year revenue was $100K ARR before Anupreet joined

Company Metrics at Time of Interview

MetricValueSource
Customers (2021)200Interview, June 2021
Year-over-Year Growth (2020)400% (5x)Interview, June 2021
Series A Raise (2021)$20MInterview, June 2021
Prior Funding Round (2020)$4.2MInterview, June 2021
Paid Ad Spend (2021)$200K per monthInterview, June 2021
Monthly Leads, All Channels (2021)700 to 800Interview, June 2021
Sales Team Headcount (2021)30Interview, June 2021
Account Executives (2021)10Interview, June 2021
SDRs (2021)20Interview, June 2021
Customer Success Managers (2021)10Interview, June 2021
Total Team Size (2021)More than 100Interview, June 2021
Engineers (2021)30Interview, June 2021
Product Managers (2021)10Interview, June 2021
AE Monthly ACV Quota (2021)$30K per monthInterview, June 2021
Companies in Database (2021)15 millionInterview, June 2021
People Profiles on Platform (2021)250 millionInterview, June 2021
Technologies Tracked (2021)40,000Interview, June 2021
First-Year Revenue (Before Anupreet Joined)$100K ARRInterview, June 2021
CSM Upsell Commission (2021)4% of upsell valueInterview, June 2021
SPIFF per Achievement (2021)$500Interview, June 2021
Alexa Rank (US) (2021)10,000Interview, June 2021

Growth Breakdown

Revenue

Before Anupreet joined, Slintel's total revenue was $100K ARR, which he described as roughly its first-year revenue, with the founder selling most of the deals himself. The company grew 5x in 2020, and at the time of the interview most of its 10 AEs were beating their $30K-per-month new ACV targets.

Customers

Slintel had just reached 200 customers at the time of the interview. The first 10 to 20 customers came organically from the HR tech sector, where the founder Deepak and Anupreet both had prior backgrounds. The company then expanded into staffing and other industries.

Team

The total team had grown to more than 100 people by June 2021, including 30 engineers and 10 product managers. The sales function alone comprised 30 people: 20 SDRs and 10 AEs. A separate 10-person customer success team carried expansion quotas.

Funding

Slintel raised $4.2M in 2020 and announced a $20M Series A from GGV Capital on the day of the interview. Anupreet noted the Series A was inbound and that the company had not yet fully deployed the prior $4.2M round when the offer arrived.

Growth Strategy

Organic SEO at Scale

Slintel had launched landing pages for its roughly 15 million company profiles, combining company names with keywords such as funding, revenue, and technologies used, and at the time of the interview was building pages for its 250 million people profiles. Anupreet said competing on SEO within its own industry was very difficult because rivals ran the same many-pages strategy; Slintel's US Alexa rank had improved to about 10,000 from roughly 30,000 to 40,000 a year earlier.

Paid Advertising Against Competitors

Slintel ran large ad campaigns against its competitors and was spending about $200K a month on paid ads. Anupreet said leads were hard to attribute to paid spend, because many people searching for Slintel clicked the company's own brand ad, but overall Slintel drove about 700 to 800 leads a month. The marketing head and the founder made the spend decisions; Anupreet was one of the influencers, since he had to keep CAC in check and confirm the AEs had capacity for the leads.

Inbound-Led Sales Motion with SDR and AE Structure

Most revenue came from inbound at the time of the interview. Slintel divided its SDR team into inbound and outbound functions, with 20 SDRs feeding 10 AEs. AE quota targets were deliberately set conservatively at $30K per month so that overachievement became the norm, with many AEs hitting 150 to 200% of quota.

Customer Success Driving Expansion

Ten CSMs each managed a book of accounts targeting 110% net dollar retention. CSMs earned 4% commission on upsells and received $500 SPIFFs for achievements such as video testimonials, G2 reviews, and references from customers. The goal was to replace competitor tools entirely within accounts over a 12-month period.

Technographic and Intent Data as Product Differentiation

Slintel's core differentiation was fact-based intent derived from digital signatures left by technologies across 12 to 15 data sources, refreshed frequently. This approach contrasted with search-based intent used by competitors like Bombora and gave sales teams leading indicators such as recent technology adoption, funding events, and headcount growth.

Best Quotes

“We have algorithm that goes out in the web. We try to understand digital signatures that technologies leave when someone is using them.”
“We believe more like in facts than assumptions, if I may put it that way. So, we share fact based intent which is based on which company is using which technology.”
“Most of our revenue today comes from inbound. We do massive ad campaigns against our competitors. We do massive investment in our SEO. By nature, our SEO is pretty strong because we have data of, you know, around 15,000,000 companies, customers of around 40,000 technologies.”
“We're spending around 200,000 right now every month, on paid ads.”
“We have 200 customers today. We've recently hit that number of 200.”
“It was inbound. We did not need it. To be honest, we did not even spend our 4,200,000, when we got an offer for 20,000,000.”
“The valuation has increased approximately 20 times since I've been hired.”
“We don't piecemeal our product. ... The reason being that we see organic upsells and organic renewals when someone is getting success out of the platform and in our case success is directly related to revenue.”

What Happened Next

This page captures Slintel as it stood in June 2021, when the company had just reached 200 customers and announced a $20M Series A from GGV Capital. The figures here reflect what Anupreet Singh reported during the interview and should be read as a point-in-time snapshot. For the latest data on Slintel, visit the company profile on GetLatka.

View Slintel’s current profile and metrics

Full Transcript

Introduction and Company Overview

Nathan Latka

00:00Hello, everyone. My guest today is Anupreet Singh. He's currently leading sales at Slintel, a SaaS sales intelligence platform. He set up sales teams and functions from scratch for various companies and firmly believes that the initial revenue target is achieved only when the entire organization works with grit to support those initial sales reps. Anupreet, you're ready to take us to the top?

Anupreet Singh

00:18>> Hey. Hey, Nathan. Thanks a lot for having me on the session.

Competing in the B2B Intelligence Space

Nathan Latka

00:21You bet. So before we jump into how you're building the sales team at Slintel, let's just get an overall of the company. Right? So, you know, are you sort of in the ZoomInfo, Bombora, B2B intelligence space?

Anupreet Singh

00:30>> Absolutely. And I'm, you know, very, excited about that space at large, you know, the way all of us have grown in the last two, three years. It's amazing.

How Slintel Identifies Technographic Intent

Nathan Latka

00:38So how are you picking you must have some trick you guys use, whether it's a sales script or a piece of product or tech code that you have that ZoomInfo doesn't have, but how are you picking customers off from the legacy players?

Anupreet Singh

00:48>> Very good questions. So, know, Nathan, what we do is that we have algorithm that goes out in the web. We try to understand digital signatures that technologies leave when someone is using them. By which I mean, you know, there are different places in which a particular technology would leave additional footprint. Like for example, Salesforce gives you a dedicated login URL, which would have your company name.my.salesforce.com, which means that each of the customer of Salesforce will

01:12>> have a dedicated login URL. We have means to understand you know which URLs have been dedicated to which companies out there. Similarly, some companies would ask you to install a JavaScript in their HTML source code or in the JavaScript of their front end of the website And we would have means to identify which companies have have a mention of that JavaScript that has been given by that technology. And then there are a lot of, you know,

01:33>> technologies that leave a good footprint behind the firewall. By which I mean, you know, for example, mainframes. It's a very, very old programming language, but the additional footprint could be in the job description wherein, say, a company that is using mainframe might mention in the job description that, Hey, we need experience working with COBOL and JCL and DB2, all the mainframe technologies. That gives us an indication that, Hey, this company is on mainframes today. So, go

01:57>> to around 12 to 15 different sources and the number of sources is the trick and the frequency at which we refresh our digital signatures and the frequency at which we go out on the web and get this information together is the trick, which is

Nathan Latka

02:08helping Do you feel like you have identified leading indicators that others like Bombora, ZoomInfo, others they

Anupreet Singh

02:14>> have not identified yet? Absolutely. So, Bombora follows a very different way to identify intent. Say, they do search based intent which is very different from technographics based intent. So, we believe more like in facts than assumptions, if I may put it that way. So, we share fact based intent which is based on which company is using which technology. Have they recently started using a technology in your ecosystem? Like if you notice, right, a lot of companies

02:39>> fall into similar ecosystem. Like someone has just purchased a CRM, they might purchase a sales engagement tool next, they might purchase a database tool next. Right? So, that leading indicator of which company has just purchased the tool is our leading indicator for buying intent scores. And then we toss it up with which company got recently funded, which company has been growing their number of employees, which company has a lot of job postings to further give an

03:02>> indication which companies will be investing in which kind of tools in the near future. Bombora does intent based on searches. So based on, you know, who is consuming what content on the internet. And I'm not sure how it's doing for them right now, but because of people working from home, they believe that search based intent is not as accurate as it used to be because it's based on IP addresses and all of that.

Pricing, Credits, and Upsell Model

Nathan Latka

03:23So, with this product understanding, right, I think my audience understands this now, what are customers paying on average per month to use this technology?

03:42Dollars per Are you upselling against anything else? And this is now getting into your sales world. Are you upselling against anything else besides number of seats?

Anupreet Singh

03:49>> We are. We also, upselling on the basis of number of export credits that they require. So, the more the number of exports that they need from our platform to their CRM, like Salesforce or HubSpot. That also is the number of

Nathan Latka

04:00exports and if so, do you roll them into the next Yes, year if you don't use

Anupreet Singh

04:04>> we roll them into the next year.

Nathan Latka

04:05Okay. So, you're a nice guy. You don't make them disappear,

Anupreet Singh

04:08>> Absolutely. And we don't have a monthly limit. Most of our competitors do, like per user per month kind of a limit. We don't have that. So, we give you a pool of credits. You can decide to use as many per user as you want. You might want, say, 10 of your users to not export at all because they can just view everything on the platform and do their research, while five sales ops people would need exports

04:27>> to CRMs or to CSVs. So, you know, that's totally fine with us.

Nathan Latka

04:31Are you up so so you have a usage based upsell and number of credits. You've got a seat based upsell, which is obvious seats. The last pricing axis you like to see is obviously feature based upselling. So are do you do any feature based upselling?

Anupreet Singh

04:44>> We actually don't. We don't piecemeal our product. We don't like to, So, like to give the full blown platform to everyone that comes on board. The reason being that we see organic upsells and organic renewals when someone is getting success out of the platform and in our case success is directly related to revenue. So, if they are making revenue using our platform, they will definitely upsell, they will definitely renew. So, for us, giving them everything that

05:09>> they need to get to those revenue goals is our motto and we don't limit them to the extent of features that they can use on the platform.

Nathan Latka

05:16Anupreet, teach us about churn, right? So, when you look at your gross revenue churn over the past twelve months, what was it?

Anupreet Singh

05:23>> We've seen 110% as our NRR. So, mostly we've seen that, you know, if there is around ten-twenty percent companies that are churning, against that we are able to upsell around 30%. So, so far we are maintaining a pretty healthy NRR so far. We've been in the business only for the last two-three years, so, you know, it's very early to kind of predict the churn rates annually, but we're doing pretty fine so far.

Nathan Latka

05:48So, you launched in 2018?

Anupreet Singh

05:50>> We did. So, first one point five year was all about building the product and then we went into the

Nathan Latka

05:55GTM side of things. So you were there in the early days, I believe. What employee number were you?

Anupreet Singh

06:02>> I was in the first 10.

Nathan Latka

06:03Okay, first 10. Great. So, question for you. I mean, how did you guys get your first five customers?

Anupreet Singh

06:09>> Very interesting. So first five customers, like anyone else was more from, you know, friends and families. Started reaching out to companies that we've worked at and organically, we started doing very well in the HR tech side of business because Deepak, the Founder is from Eightfold. I am from Mettl, which now got acquired by Mercer. So, you know, both of us have an HR Tech background. So initial few customers were from HR Tech for those reasons. Then

06:32>> staffing companies started coming in organically when we started closing to HR Tech. And then we expanded into other industries. So first ten-twenty customers were from the HR Tech for those reasons and they're still sticking around with us, giving I us a fresh

Nathan Latka

06:43always like to ask that first year of operations. It's usually an embarrassing number, but it's part of the process. Do you remember what that first year revenue was?

Anupreet Singh

06:51>> Yeah. So before I joined, the total revenue of the company was $100,000 and that was like kind of first year revenue where the founder was trying to sell most of the deals himself. And then the second year was a very

Nathan Latka

07:03poor You joined in like 10 ks of MRR then?

Anupreet Singh

07:05>> Yeah. We do only do annual deals. We only do annual deals. So, it was 100 ks ARR when I joined them. And from there was the actual, you know, massive journey that we've taken so far. We just announced our Series A today, by the way, with GGV Capital for $20,000,000 So we've closed two rounds in the last six months. So we've just expanded very, very fast in the last two years.

Nathan Latka

07:26We'll talk about the $20,000,000 raise today, the $4,200,000 last year and even the initial $300 back in 2018. But first, want to understand how we're getting customers now today. Right? So what's the sales motion look like today?

Sales Motion: Inbound, SEO, and Paid Ads

Anupreet Singh

07:40>> So we have SDRs and account executives in place. We have further divided the SDRs into inbound and outbound. Most of our revenue today comes from inbound. We do massive ad campaigns against our competitors. We do massive investment in our SEO. By nature, our SEO is pretty strong because we have data of, you know, around 15,000,000 companies, customers of around 40,000 technologies. So, all of that results in a lot of SEO strategy for us.

Nathan Latka

08:07But Yeah. I want dive in there for a second. So, on the SEO side of things, have you launched individual landing pages for 15,000,000 companies? So when people search like company x revenue, you rank high or something.

Anupreet Singh

08:18>> Yeah. We're there. Yes.

Nathan Latka

08:20What are those combinations? That's what I'm really interested in because that's the magic to this, right? So it's company name plus what word?

Anupreet Singh

08:26>> Plus funding plus revenue plus technologies used, you know, plus it could even be at a personal level. So, have around we have a total of two fifty million people profiles on the platform today. So, we're building pages for individual people profiles as well as we speak.

Nathan Latka

08:41So, people So, people's plus what keywords?

Anupreet Singh

08:45>> Yeah. Like, for example, you know, your name plus your designation might land you to our company, you know, page dedicated to you. So, we're trying to, you know, get into that as well so that, you know, the SEO is taking care of itself. There's so many pages.

Nathan Latka

08:57How are you outranking others? I mean, you're you're young. Your domain authority on Ahrefs is 29, so that's not great. You want to see like sixty, seventy, 80. How are you outranking others with higher domain authority?

Anupreet Singh

09:07>> Yep. So I think we know that it will take some time. In terms of our overall, you know, website rank, we are around 10,000 in US as of today.

Nathan Latka

09:1710,000 what in The US?

Anupreet Singh

09:19>> Our rank is 10,000, Alexa rank is 10,000, which means that, you know, and it was around, I think thirty, thirty five, 40,000 last year, same time. So, we're trying to improvise on those ranks gradually. We're doing better than any other company in any other industry which is three years old. But competing against our own industry for SEO is very, very difficult. The reason being that all of them have the similar strategy of having multiple pages for

09:43>> multiple companies and multiple people.

09:45>> It's One of the difficult problems is you're trying to boil the ocean. You're not hyper focused on one business sector. You're trying to do every business possible. So, it's hard to win in one spot.

Nathan Latka

09:54Absolutely. Absolutely. This is interesting. Okay.

Anupreet Singh

09:57>> That's SEO. Let's talk about paid.

Paid Ad Spend and Lead Volume

Nathan Latka

09:58How much did you spend on paid ads last month?

Anupreet Singh

10:01>> We're spending around 200,000 right now every month, on paid ads.

Nathan Latka

10:06And are you the guy that's going, keep doing it or no, shut it off. It's not working.

Anupreet Singh

10:11>> I am one of the influencers because every time they do a 200,000, I definitely have to maintain CAC and I have to give them that, hey, do I have the capacity? Do I have the, you know, AE capacity to handle those many leads? So, I am one of the influencers, but the decision is taken together by the marketing head and the founder.

Nathan Latka

10:27How many leads will $200,000 in paid spend drive?

Anupreet Singh

10:32>> Right now, so it's very difficult to attribute a lead directly to a paid spend. The reason being that a lot of times people would just search for Slintel, but instead of clicking on slintel.com, they would click on the ad that we run for our own brand. But overall, we're able to drive around, I think around 700 to 800 leads every month.

Sales Team Structure and AE Quotas

Nathan Latka

10:47Then let me down the funnel, right? So, how many current AEs are on the team?

Anupreet Singh

10:53>> We have a total of 10 AEs, already expanding that to 15, gradually, and to 20 later this later next quarter.

Nathan Latka

11:00And are the AEs the only one that carry a quota?

Anupreet Singh

11:03>> Yes. Only AEs.

Nathan Latka

11:05So so okay. So 10 account executives, 10 how many how many, like, when you add up your entire sales team, SDRs, CSMs, everyone, how how big is that?

Anupreet Singh

11:13>> The sales team is around 30 people, and then we have a 10 member CSM on top of that. So SDRs around around 20 SDRs, 10 account executives, and 10 customer success managers.

Nathan Latka

11:22Do you give your CSM's quota targets for expansion?

Anupreet Singh

11:26>> We do. Yeah. So, our CSM's carry expansion. Yes. They carry a quota of upsells and cross sells and, you know, maintaining the retention rates.

Nathan Latka

11:33Okay. I'm working for you.

11:35I'm a CSM. I'm a year and a half into my work at Slintel. We're having our one on one performance meeting. What kinds of questions are you like, tell me what my goal is for the next year.

Anupreet Singh

11:43>> Absolutely. So, you know, you'll be given a certain book of accounts which might amount to somewhere around $1,000,000 for the year. And your goal is to maintain, you know, the $1,000,000 as it is, but while trying to sell, upsell into the accounts that are extremely happy and are, you know, using the platform authority. The ones that are not trying to understand what's going on, try to set up one on one weekly calls with them because, you

12:06>> know, we want to know if there's anything going wrong, we need to know that immediately. So, if they're happy to do a weekly call with your call with you, you should do that every week with your customers. So, our goal is to keep them happy, see if there's any upsell opportunity and make sure that that $1,000,000 is not slipping away.

Nathan Latka

12:21Anupreet, in a year when we have our next call, man, I want to raise. So, I want you to tell me a metric that I have to beat where you're going be really happy with me. What metric do I have to beat?

Anupreet Singh

12:29>> So, you know, making sure that you're maintaining and managing the most important customers really well and they're able to upsell to even a two x kind of standpoint if, you know, your customers are using our competitors as well. Find means to replace competitors completely in the next one year. We'll see how many customers could you double up in terms of the total number of users, terms of the total number of credits consumed, which kind of indicates

12:52>> that they're using more of us than the competitor. Because, you know, in our industry, tools coexist. We can coexist with ZoomInfo and Bombora.

Nathan Latka

13:01Dollar my retention goal?

Anupreet Singh

13:04>> We've been maintaining an average of 110, so we'll stick to that for you.

Nathan Latka

13:07No, but is that the goal for every CSM? That's what I'm trying to get into here. What is your metric? Okay, so you say here's a million dollar book of business. Your goal is to keep a 110% net dollar, 10% on this million. So, you should grow this million to 1,100,000 ARR in a year. If you do that, Nathan, I'll be really happy with you.

Anupreet Singh

13:23>> Correct. Anything less than 90 is is is really bad for our company right now. So because anyone who's doing less than 90 is is not anywhere close to our our goals right now.

Nathan Latka

13:32That seems really conservative. I mean, you guys, I feel like should be at, a 130, 125% net dollar retention. Why so conservative?

Anupreet Singh

13:39>> So, we see that the biggest growth comes from only the enterprise customers, the ones that are all from fast growing startups. But we also have a chunk of less than 50 employees customers that kind of churn after one year. A lot of those companies shut down. We So, have to take into consideration that a lot of companies that started working with us because sales intelligence tool is one of the first few tools that companies start using.

Nathan Latka

14:00So, those are small ARPU accounts. If they churn, it shouldn't impact your net dollar retention in a big way.

Anupreet Singh

14:06>> Yeah. But in the first year or two, right, we had a lot of such customers coming at it. So we are moving away from them and we are also focusing a lot more on the 51 and above. So we know that those companies, those customers are still in their pipe. The goal is to definitely go towards one twenty, one thirty in the next six months or so. But today, the book of accounts that we have, we

14:22>> know that has a mix of both very small accounts as well as relatively larger accounts. And now our focus from here on after this recent raise is going towards enterprises, you know, Fortune 1,000, Fortune 500. So, that's when we can focus on that kind of bonus.

Nathan Latka

14:37As a CSM, if I hit 110% net dollar retention, what bonus do I get? How do

Anupreet Singh

14:40>> you incent me to do that? Quite a few things. So, you get 4% of every upsell that you 4%. Yes.

Nathan Latka

14:47Perpetuity? Of every upsell.

Anupreet Singh

14:48>> Like, 4% flat for the upsell. So, if you upsell $10,000, you get $400 in your bank account.

Nathan Latka

14:55Just for the first year? It doesn't go on in perpetuity?

Anupreet Singh

14:58>> For the first year.

Nathan Latka

14:59Okay. Got it.

Anupreet Singh

15:01>> Yep. We also do it just for the first year for the account executives as well. We don't do it for perpetuity for account executives as well, just for the first year. And then we also give you SPIFFs. So, we have $500 SPIFFs for, you know, every little achievement. So, for example, a SPIFF if you are able to get a video testimonial, a SPIFF if you get a great G2 review, a SPIFF if you are able to,

15:21>> you know, get a reference from a customer. So, there are a lot of SPIFFs to V1. So, you know, there's a lot of

Nathan Latka

15:29Okay. Very good. Is really valuable. We're getting short on time here, so I want to keep digging here. But just to summarize that, you basically give a million dollar book of business to every CSM and they go to 110 net dollar retention. They make 4% of whatever they upsell.

Anupreet Singh

15:40>> Correct.

Nathan Latka

15:41Okay. Talk to me about your first sales hire. What quota did you give them? That's always really hard to figure out.

Anupreet Singh

15:45>> Absolutely. So, when we started off, we figured out a way to do around $50,000 per month, you know, internally. So we had just one person. First couple of months, there was no quota for that person. Me and that person was trying to, you know, figure out means to deliver $50,000 per month consistently. And once we're able to do $50,000 between the two of us, we started hiring more with a target of $20,000 per month. Just to

Nathan Latka

16:12be clear, adding $50,000 in new monthly recurring revenue per month or 50 ks in ACV value?

Anupreet Singh

16:18>> 50,000 ACV in the beginning per So, these are days when our total ACV was $100,000 right? So, we started from there. In three months, we started doing $50,000 per month of ACV. That was our initial decision.

Nathan Latka

16:31You were figuring out the model, you set a quota target of basically $600,000 of new ACV, right? So $50,000 per month, right, for you as the first rep. Then you said, how do I edit this to go hire my first external AE? Talk me through that.

Anupreet Singh

16:44>> Absolutely. So when we hired, we hired two AEs and two SDRs together. And we tried to make sure that 50,000 even if I am not in the picture, am not going to the demos, we are able to maintain this 50,000 per month consistently. And then we plan ways to go from 50 to 100 which we did eventually in three months. But 50,000 for the first three months was split between three AEs with a target of somewhere

17:06>> around 20,000 per AE per month. So, we went from two AEs $20,000 per AE per month to three AEs $20,000 per AE per month. Eventually, we started doing thirty-thirty 5 each and we went to 100,000 with just three AEs and then eventually to 150,000 with just three AEs while their target was 30,000 per month. So the thing that we did differently from others was that our targets were still low while they were doing 200% of their

17:30>> numbers and even today the per AE target is still 30,000 while we have quite a few AEs and most of them are overachieving. So, with 10 AEs we are doing 30,000 per month but it doesn't mean that AEs are only doing $30,000 It basically means that there are some AEs doing 200%, 150%. Anything less than 100, they feel that it's low themselves. So for us, 100 is just the number that you need to meet to be

17:51>> an average AE. And every good AE is doing 250%.

Nathan Latka

17:54So 10 AEs, they're all doing way more than $30,000 in new annual contract value close per month. Many are at a $100. I mean, so what? I mean, you guys are adding like 500, $600,000 a new ACV per month right now, something like that?

Anupreet Singh

18:05>> Somewhere around that. Yeah.

Customer Count and Growth Rate

Nathan Latka

18:06Okay. That's great. Now, with all this strategy, now we understand how the whole machine sort of works, How many customers are you now at today?

Anupreet Singh

18:13>> We have 200 customers today. We've recently hit that number of 200.

Nathan Latka

18:17That's great. So, yeah. Can, now can I multiply the 200 times the ARPU you gave me earlier of about $2,000 or you guys are doing about $400,000 per month right now in revenue?

Anupreet Singh

18:27>> So we just started doing that, right? But yeah, we can. So right now is when we started hitting 500. We, we're doing like almost, two x every quarter, if I'm about it that way. Last year we grew five x. So last quarter was not as big as this quarter. So, yeah. And next quarter will be probably double of this.

Nathan Latka

18:45So you're at about $500,000 per month right now in revenue and a year ago, were only at $100,000 per month in revenue for five x year over year growth.

Anupreet Singh

18:52>> Absolutely.

Series A Raise and GGV Capital Partnership

Nathan Latka

18:53That's great. But you've raised a bunch of capital to do it. So why did you guys raise 20,000,000? Why did need it?

Anupreet Singh

18:58>> It was inbound. We did not need it. To be honest, we did not even spend our 4,200,000, when we got an offer for 20,000,000. There was no way that we would accept it. There was no way that it was on the card, but GGV was a great partner to have. Let me put it that way. They come in with a lot of US experience. You know, our Founder is Indian. Most of our leaders are from India.

19:19>> We have all the intentions to now start hiring in US pretty aggressively. And that in that next phase of growth, right, we wanted Deepak is one of the only people in the leadership team that is in US right now. Most of our other team members are in India. So while we expand, you know, our US team, we wanted someone from US to participate as an investor. And the partner should be in US, the Board of Directors

19:41>> should be in US and GGV was a great partner that way. So when we got them on board, the other things that opened up for us was exposure to The US market in terms of hiring, in terms of campus recruitment. They referred us to Stanford. Recently, we had a bunch of interns from Stanford in that virtual campus drive. I mean, lot of things opened up for us, and that's the reason why we accepted that inbound offer

20:00>> from GGV.

20:01>> Yep.

Nathan Latka

20:02Now, were you early enough to get equity in the business, personally?

Anupreet Singh

20:04>> Yes.

Nathan Latka

20:05Okay. So anytime, obviously, you do a round, right, you're getting you're getting hit, right? There's a bit of dilution. Most series a companies were giving up between, call it, 10 to 20% of the business, like, on that series a round. Were you guys sort of in that range?

Anupreet Singh

20:16>> Yeah. We were. Absolutely. But I think the valuations are also crazy. The valuation has increased approximately 20 times since I've been hired in

Valuation Discussion and Prior Round

Nathan Latka

20:24the What was the we won't talk about today, but the 4,200,000 you raised last year, what valuation did you raise that at?

Anupreet Singh

20:31>> Somewhere in the range of 15 to 20,000,000 was that valuation.

Nathan Latka

20:34That is so crazy. 15 to 20,000,000, so 15 to 20 x the year million dollars in ARR at that time. Yeah. That's crazy. And you said valuation's growing basically 5x year over year?

Anupreet Singh

20:46>> Revenue is, and yeah, valuation is also in the same page. Yeah.

Nathan Latka

20:49Okay. Got it. So, I mean, we can say it in this last $20,000,000 raise you guys, it was above a $100,000,000 valuation.

Anupreet Singh

20:55>> Yeah. We can say that it's in somewhere in that range.

Total Team Size and Engineering Headcount

Nathan Latka

20:57Yeah. Okay. Fair enough. Very good. Well, listen. This is interesting. Last question I have. We talked about your sales team. What's your total team size?

Anupreet Singh

21:03>> Total team size is around 35 right now.

Nathan Latka

21:0630 the total team is 35 and you have 30 on the sale just the sales team?

Anupreet Singh

21:11>> Excluding the CSM. So CSM's don't really report into the sales function. They have a different vertical altogether. So, the SDR is account executive, sales operation, sales enablement operate, you know, reports into the sales.

Nathan Latka

21:21What about like engineers and everybody?

Anupreet Singh

21:23>> Oh, the total Oh, sorry. I thought you asked me the question Whole around team is, more than 100.

Nathan Latka

21:28100. Okay. Got it. That makes sense. And then what? How many engineers?

Anupreet Singh

21:32>> Around 30.

Nathan Latka

21:3330. Very cool.

Anupreet Singh

21:34>> 30 engineers, 10 product managers. Yeah.

Famous Five: Books, CEOs, and Tools

Nathan Latka

21:37That's great. Let's wrap up here with the famous five. Number one, what's your favorite business

Anupreet Singh

21:42>> it is actually this one, Good to Great. I just love it by Jim Collins. Also one of the most first few books that I read ever, around sales. So, really like it.

Nathan Latka

21:50Number two, is there a CEO you're following or studying?

Anupreet Singh

21:54>> Quite a few, actually. I like to follow CEOs who are from SaaS ecosystem. So, Girish from Freshworks is one of those CEOs that I follow very, very closely. So, if there's one name, I would say Girish, from Freshworks.

Nathan Latka

22:06We will see if they IPO here in the twelve months. I know it's he he's he's really Yes. Wanting to. We'll see. Number three, what's your favorite only What's your favorite only tool for building Slintel besides your own?

Anupreet Singh

22:17>> I think Gong. Gong has been a great, great partner. We use Gong for all our forecasting today. All the stand ups happen on Gong.

Nathan Latka

22:24Are you in acquisition talks with Gong? They have $250,000,000 of fresh powder to work with.

Anupreet Singh

22:29>> No, we're not. We're not looking for acquisition at all, but we're getting a lot of inbound interest from a lot of companies, but, not looking to get acquired at this time.

Nathan Latka

22:38What's largest company that's reached out?

Anupreet Singh

22:40>> I can't give out the name, but, largest ABM company reached out to us.

Nathan Latka

22:45Okay. Interesting. Fair enough. All right. Number four. How many hours of sleep do get every night?

Anupreet Singh

22:51>> I work in The US hours, and I'm in India right now. So, I sleep from 5AM, to around one or 2AM, so, one or 2PM, so I sleep very, very odd hours, but around, I take around seven hours of sleep.

Nathan Latka

23:02Okay, and what's your situation? Married, single, kids?

Anupreet Singh

23:05>> I recently got married, no kids.

Nathan Latka

23:07Oh, congratulations. And how old are you?

Anupreet Singh

23:10>> I'm 29. Turning 29 this month.

Nathan Latka

23:12Yeah. Very cool. Last question, Anupreet. What's something you wish you knew when you were 20?

Anupreet Singh

23:16>> Sorry. What was that? I missed the question.

Nathan Latka

23:18Something you wish you knew when you were 20.

Anupreet Singh

23:21>> I think I wish I knew that money is not as important that I didn't have money at 20. I thought money is everything and I kept chasing that. And that is one of the reasons I was so aspirational in my life that I became a sales leader at 20 I'm the youngest sales leader in the industry today, you know, leading such a such a big function and was leading sales function since I was 26. But the

23:43>> reason I could do that is because I was so aspirational. But after I achieved that, I realized that money is not as important as I thought it was.

Host Recap and Wrap-Up

Nathan Latka

23:49Guys, Slintel competing in the b to b SaaS intelligence space. They had a $100,000 in MRR a year ago. Now over $500,000 in MRR or $6,000,000 run rate. Over 200 customers, again, growing rapidly. They spent $200,000 on paid ads last month and also doing a strong SEO motion. 30 folks on their sales team, 10 AEs carry a quota, 10 CSMs carry a net dollar retention quota. We dive into all of it today. Anupreet, thanks for taking

24:12us to the top.

Anupreet Singh

24:13>> Absolutely. Thank you so much, Nathan. I had a lot of fun. Thank you so much for making it so insightful. Hope, you know, the listeners get some value out of it.

Nathan Latka

24:21One 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, 1PM

24:45central. Additionally, remember these recorded founder interviews go live. We release them here on YouTube every day at 2PM 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 an acquisition, a big

25:07fundraise, a big sale, a big profitability statement, or something else. I don't want you to miss it. Additionally, if you wanna take this conversation deeper and further, we have by far the largest private Slack community for B2B SaaS founders. You wanna get in there. We've probably talked about your tool if you're running a company or your firm if you're investing. You can go in there and quickly search and see what people are saying. Sign up for

25:28that 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 counter those people. We gotta

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