How we’ve grown to $1.8 MN ARR in just 2 years leveraging GTM partners.

Vaibhav Tiwari: 00:00:00

So what happens is, um, there are, uh, some partners whom we, whom we have done, um, a kind of, uh, revenue sharing where, uh, they have some connection in the industry. They have been there from industry from 20, 25 years, and we met them during some of the events that we have attended. Mm-hmm. So, uh, they, they are from the same industry and then, Help us in connecting to the people whom they knew, some of their companies they knew, and that's how it works.

Upendra Varma: 00:00:27

Hello everyone. Welcome to the B2B SAS podcast. I'm your host of PRA Mine. Today we have Tari with us. Bob Bba is the CEO O of a company called Bill Pan. Hey Webo, welcome to the

Vaibhav Tiwari: 00:00:36

show. Thank you, pen. Thank you for having me here.

Upendra Varma: 00:00:39

Ah, alright, Rabel. So let's try to understand about your company, right? So what does your company do and why customers pay you money?

Vaibhav Tiwari: 00:00:46

Sure. So, um, we are a ci cd platform. It's a continuous integration and continuance deployment platform. So, while working, um, I, I'll take a minute over here. So, uh, while working for various mobile application development companies, I worked for approximately 10, 12 years before starting Build Plan. So we realized that the live cycle of mobile application development is quite manual and if we can automate this process, then we can actually improve the developer's product. Their efficiency and decrease the time that is required to complete the whole life cycle. And there are many, many products which are there in the market, but not a single product which can solve all all the problems at one single place. So that is how. we started So it's a continuous integration and continuous deployment platform where developers, so, uh, we also believe that developers, I mean, I've seen one of the Steve Balmer's interview where he said that developers are the real world heroes. But it's like the salespeople take all the credibility because they say, this is, this is how our product has built. So we have created a product for developers, bio develop. Where they can make their application and deploy directly on the App store. So briefly, it's a continuous integration and deployment platform where you can integrate your code, where you can merge your code. You can test your code by yourself and deploy directly on the app store.

Upendra Varma: 00:02:11

Got it. Alright, so I wanna deep dive into that, right? But before that, I want to understand who you are trying to sell this particular product to as of today. Right? Can you talk about, you know, your customer base as a freight? Like who are these customers? Right? How big they are? Maybe a couple of examples just to get a sense of that. So, uh,

Vaibhav Tiwari: 00:02:27

briefly, e every mobile application development company or every mobile application developer is a potential customer. Uh, because, uh, what happens is, I mean, uh, I mean, normally mobile application is made into batches or. Usually companies follow Agile methodology where people sitting at different locations, they work on the same project. So with Bill Pan, you can use, uh, bill Pan to merge this code. You can use Bill Pan to test this score and you can use Bill Pan to deploy directly on the app store. So every developer who is creating an application can use for, uh, developing the app. Got

Upendra Varma: 00:03:06

it. And, uh, approximately how many customers do you have on your platform? As of.

Vaibhav Tiwari: 00:03:11

So, um, I'll, I'll again take one more minute over here. Sure. Yeah. So when, when we started Build Pan, uh, it was, um, it was December, 2020 when, when we, when we became full-fledged and we got two customers. And, um, so when we started the product, we wanted lot of, I mean, so whenever you start a product you, you want, you want to check how your product is performing, how your baby is working, and, um, Unfortunately, COVID hit during that time. And, um, normally we were speaking to a lot of people, lot of potential customers, but people were trying to avoid to take the new solution, even though we were offering the platform for free. But, uh, normally people were trying to avoid. To take the risk. So during that time, our, um, prime Minister has announced him. So, um, he self, uh, self-dependent India, self-dependent Barr. So we were speaking to lot of freelancers during that time and, uh, they said that we wanted to utilize a product like this, but, um, There is no platform which is there in the market, which is offering it for very, uh, few bucks. And, you know, freelancing industry works on very thin margins. So, uh, we thought that let's release a product, we offer them for dollar five. So any freelancer will utilize build plan can do it in just dollar five for a hundred minutes of platform usage. So we. Two funnels enterprises. So any mobile application development company or any individual uh, app, uh, mobile application development company or any individual app can use and freelancers. Yeah, so we are working with approximately 50 enterprise clients across India, Japan, us, Hong Kong, and Philippines. And we have approximately 25,000 plus freelancers o over the globe. We're using built pan platform right now. Started. And so Covid actually happened to be a blessing in disguise where Yeah, we got lot of freelancers on the board, we got lot of feedback and, uh, yeah.

Upendra Varma: 00:05:09

Yeah. I, I, we'll come back to it, right? Looks like a very interesting story, right? I mean, 25,000 numbers is, that's, that's pretty good number, right? So we'll come back to that in a while. So we just wanna close, uh, close the conversation year around metrics, right? Like, how big are these deals, right? So you talk and let, let's just focus on these enterprise deals for a while now, right? And how big are these deals, right? Are these thousand dollars deals, $10,000 deals? Because I could imagine that a big company, right? Every potential mobile application developer is a user of yours, right? So, so like, uh, uh, as of today, right, based on your customer base, right? How big these deals, So,

Vaibhav Tiwari: 00:05:44

uh, our, um, usually with, with Enterprise, it's a custom made model where what we have done is we have given them a custom plan, depending on the number of team members. Mm-hmm. So typically a team of four members can do it in just, uh, $500 for 500 approximately minutes. It goes till 4,000, 5,000 US dollars. So depending on the number of team members, it's customized.

Upendra Varma: 00:06:12

Right. So, uh, I'm just trying to understand it. On an average, how big are these deals? Right? Is it $50,000? Is it a hundred thousand dollars? Is it $10,000? Just, just a approximate number.

Vaibhav Tiwari: 00:06:21

So I, I mean, on an average it goes from somewhere around from 1500 US dollars. Is this per month?

Upendra Varma: 00:06:27

Per month. Got it. Yeah, that makes sense. Alright. Uh, yeah. So like approximately, can you, can you reveal how much revenue were you doing last month? Something like that?

Vaibhav Tiwari: 00:06:37

So we, we were doing, uh, close to 150 K US dollars last

Upendra Varma: 00:06:41

month. Awesome. That's pretty good. Alright, so yeah, and just to complete the conversation here, right, so like how many enterprise customers you had like a year ago? I'm talking about January, 2021, something like,

Vaibhav Tiwari: 00:06:54

We, we had approximately 36, uh, last, last year. We have added 14 mm-hmm. So the sales cycle is little long. It takes approximately one, one and a half, even 2, 2, 3 months for, for a customer to close down. We, we are trying to, we are trying to narrow that thing, but, um, I mean, we. What, what the process that we follow is we try to give them some free amount of credits so that people can use it and then um, they can start utilizing the platform. So that is how it works.

Upendra Varma: 00:07:24

Yeah, makes sense. Makes sense. All right, so now let's go back to that, you know, December, 2020, right? So when you just start credit, right? So just talk about, you know, that initial stage. So like how did you grow from zero to 25,000 users, all of these freelancers, right? I mean, it's hard, right? So what really worked for you? What happened? Just talk us to the, talk us through that. It was,

Vaibhav Tiwari: 00:07:42

um, it was really interesting. So, uh, what we have done is we thought that let's just roll out the product for free. So anyone who want to utilize Bean can do it for free for, for first hundred minutes, and then they need to pay. So, um, we got, uh, lot of, uh, free registrations. I believe in the very first month we got approximately two or 2000 registrations in. Very, uh, first 10 or 20 days, but we've seen that, uh, there is no repeat customer. Mm-hmm. Then, um, at the backend when we tried to check, there were a lot of people who, what they were doing is they were not connecting their GitHub account. They were, uh, making another email id and were checking, then we have given them, and then we kept a check at the backend that, um, you have to connect your GI account and one GitHub account can only avail that free amount of minutes, but, I mean, you learn from the mistakes that you do, but it was really interesting then, um, we, we get lot of word of mouth. We, uh, we, we get lot of publicity through word of mouth. Then we have, uh, a lot of, uh, people, our sales team is very much active on lot of communities, product and communities where we try to resolve the problems for mobile. So,

Upendra Varma: 00:08:52

so I, I wanna specifically ask you, right, so December, 2020, you've, you've got a bunch of, you know, freelancers. So what is that one thing that really worked for you at that stage? I mean, obviously you were offering your product for free, but how did all of these potential users, you know, started knowing that what channel really worked, where you launch? Did you launch it anywhere? What was that one big thing that worked for you then?

Vaibhav Tiwari: 00:09:12

Uh, for social media marketing worked for us. Uh, LinkedIn marketing worked for us. So that was the

Upendra Varma: 00:09:17

So what were you doing exactly there? So how, how are you reaching out to these.

Vaibhav Tiwari: 00:09:23

Uh, so a, as I mentioned that, um, we used to post about our product that this is the problem that we've been solving and we are doing it just for free. Mm-hmm. I mean, for first hundred minutes it's, it's completely free then. Yeah. I mean, we were just mentioning it that it's completely free. You, all you have to do is you have to come and register on us. So we've, we've done some paid campaigns as well. Mm-hmm. and then we were trying to reach people through a lot of communities, as I mentioned, that, uh, Freelancers hangout. So Slack communities, product and community. So that is how, what the focus has been. And till date now we got 25,000

Upendra Varma: 00:09:59

freelancers. All right, so, so I just want to sort of close this conversation, but I wanna quantify it, right? So where did a big chunk of this. Sort of folks came from, was it through these paid ads? Was it through, you know, uh, you know, these communities? Like, I mean, if you want to sort of pick one, what would you say? Mostly from communities. Mostly from communities. And you were doing this manually, right? So your team was trying to go through this community posting all of all about these new features, all of those things, right? And since you are free, people really sort of attracted to your product, right? Something like that. Got it. Alright, so now let's move on to your, you know, business B2B aspect of it, right? So I wanna talk about these enterprise customers, right? So you mentioned you had two customers during December, 2020, right? So just talk about that zero to one journey. Where did you find these customers? Right? How did you manage to convince them because you were just starting new, right? So what was that journey there?

Vaibhav Tiwari: 00:10:43

So, I mean, um, uh, we, we started uh, back in, I mean, I mean, uh, I mean, um, so I, and my co-founder, we were speaking that this is what has been hitting and this is what the problem has been. Mm-hmm. So, uh, uh, if, if we can make a product. Then there was lot of pivoting, which happened that, no, this should be included, this should not be included. This should be there, this should not be there. The products which are there, what, what, what all the USPS can be there. So, uh, we, we knew some people from the industry already, so since I had worked for 10 years, he had worked for 15, 16 years. So there, there were some people that we already knew and um, uh, when, when we started Build Pan Fullfledge, we pitched through them that this is what we are building and it would be interesting if you could just try it out. Mm-hmm. So they tried it out and they liked it very much. And, um, we got the very first customer on the December 1st December. Got

Upendra Varma: 00:11:41

it. Now I want you to come back to last 12 months, right? So you mentioned you've grown by 14 odd customers in the past 12 months, right? So where did the, strictly, from a top funnel perspective, right? So where exactly are these customers finding you? What growth channels have been working for you like today?

Vaibhav Tiwari: 00:11:55

So, uh, I mean, um, for specifically, I mean, uh, uh, most, uh, uh, we specifically focus mostly for the enterprise side. Mm-hmm. the reason being, um, it's a big ticket size. Yeah. And 70% of the funds, uh, 70% of the revenue comes from the enterprise side. So, uh, what happens is we have, we have some G DM partners. Um, they are, they are, they are based in Hong. Uh, they are based in us and they help us in generating leads. Then we have, um, um, outbound inbound marketing team who helps us in cold calling and lead generation as well, though that part is not working. that it used to be previously, but still, I mean, um, we, we get contacts from LinkedIn from our GTM partners and mostly our team works like this. And then we, so, so

Upendra Varma: 00:12:44

when you say GTM partners, are these, uh, you know, lead generation agencies, something like that?

Vaibhav Tiwari: 00:12:48

Or? Um, no, uh, not, not exactly. So what happens is, um, there are, uh, some partners whom we, whom we have done, um, a kind of, uh, revenue sharing where, uh, they have some connection in the industry. They have been there from industry from 20, 25 years, and we met them during some of the events that we have attended. Mm-hmm. So, uh, they, they are from the same industry and then, Help us in connecting to the people whom they knew, some of their companies they knew, and that's how it works. So

Upendra Varma: 00:13:20

these are sort of your affiliates, right? So they bring you, they send people to you, and then you sort of end up converting those leads, right? That's right. That's right. Got it. And that's, that's, is that how most of your top of funnel works as of today? Primarily. Mostly. Got it. Mostly. And And in terms of revenue sharing, is it a onetime thing or are you gonna pay them forever till the customer sticks? It's a onetime thing. Onetime thing. Got it. Alright, so now I wanna sort of move on to the bottom of funnel, right? So I mean, closing 20,000, like ACVs around 15, $20,000 a year, right? So like once a customer discovers you, right? Once the channel partner pushes a customer to us, you Right. What exactly happens? How does your sales team engage with them? You talked about two months sales cycle. What happens during those two months? Just can you explain the.

Vaibhav Tiwari: 00:13:59

So we try to give them some free amount of credits. I mean, the process is very simple. We try to understand that where exactly are they lacking? Are they using any kind of product? Are they using any kind of competitor? We try to analyze, uh, analyze that before giving them the demo. If they are, uh, I mean on the very first call, uh, what is the issue that they're facing with that? What is the normal process, which, which is the time taking the number of team members, which will be using the product and the, and the demo is customized as per that, and then we try to give them some free amount of credits. Then the sales team come into the picture. Uh, they take, uh, one, two days to try to adapt that. What is the issue that they've been facing with the using in using. Particular product? Is there something that they require? There are some things which can be customized as well in our product as per the customer needs. And if they need it, we can do it. And then normally the follow up process that how is, how things will working, who, who is the key decision maker. And that's how it works. It's a typical

Upendra Varma: 00:15:07

enterprise sales cycle. Right. So you got pitch, pitch to a bunch of people and then sort of convince them and then onboard. Right. Got it. So just. One, one question here. How does the conversion look like? Like since you've got this one top of funnel channel, right? So like on an average, how many people do you end up converting, right? For every 10 leads that are coming in? How does that conversion look like? So

Vaibhav Tiwari: 00:15:26

I mean, um, it, it, it's again, one before margin that, that, that, I mean, a salespeople used, used to take, but, um, we, I mean of, of all the people. Give demo, um, it's approximately 50%, um, close to 50%. Uh, the reason being, um, uh, this is something which, uh, the c I C D pipeline specifically for mobile, um, not many people are using it. Yeah. And we are, what we have done, um, with our product is we have kept the dashboard to be pretty simple and easy. Mm-hmm. uh, we have. Complex things and it helps customers, developers, to use that product. So, um, that is, uh, that is one of the competitive advantage or competitive edge that we have over our competitors. And it works for us. Yeah. Yeah. I

Upendra Varma: 00:16:17

mean, your numbers show that, right? So yeah. So like, how does the churn look like? I mean, I know it's still early days. I mean, it's just been 24 odd months, right? But like, do you see any active churn, people churn? Like, how does those metrics look like as of

Vaibhav Tiwari: 00:16:28

today? Fortunately for us, there have been only two companies who have churned out. Um, they, they were startups. Mm-hmm. and they couldn't survived the Covid wave. Got it. Uh, every customer we have started from the very first day is still working with us. In fact, there are some people who have increased the number of team members. So yeah, that we, we've been on the positive side on that side. It's only been three years. Let's see how things

Upendra Varma: 00:16:51

goes. Yeah, but I mean, that's, that's pretty awesome. Right? So like, and just talk about the team, right? How big your team is as of today. Like and how many engineering versus how many in G T M.

Vaibhav Tiwari: 00:17:01

So we have a team of 25 people, uh, including all the founders. Mm-hmm. uh, mostly are from the development side. Uh, there are some from the finance and, um, the marketing side consist of four people. Uh, okay. I also been active partner into marketing and sales, so mm-hmm. including me, it would be fine.

Upendra Varma: 00:17:21

So these four folks are actually sort of doing those democrats and closing all of these, you know, uh, deals, right? Is that what you're.

Vaibhav Tiwari: 00:17:27

That's awesome. Uh, so I've been a little active on the demos as well. Um, if, if there is something which is related to technical something, then we include the other co-founder. But mostly it's the salespeople, these

Upendra Varma: 00:17:40

four people who Right. And, and have you raised any external funding so far?

Vaibhav Tiwari: 00:17:45

Uh, we've raised three times. So, uh, we've raised in January, 2021. Uh, I mean, we started in December, we raised in January. Uh, it was. it was an angel and family round. Um, so during that time we raised close to hundred K, and uh, then we raised in June July from, um, SSV, an artian. I'm not sure whether you've heard about them. So they are, um, um, I mean, um, uh, venture capitalist and. Accelerators. Mm-hmm. So it's similar to Y Combinator and Sequoia. Mm-hmm. Uh, then last year we have closed, uh, 2 million US dollars. Mm-hmm. from, from the same

Upendra Varma: 00:18:31

investors. Got it. And where are you spending all of this money and is it on engineers or where exactly is

Vaibhav Tiwari: 00:18:36

it going? Mostly it's on the tech side. Uh, so there. Some new cool features that the team is working upon. Um, so that's where mostly the spend is on.

Upendra Varma: 00:18:47

All right. So one last question. Right. What's the vision here? Where do you see your company going in, like, say, five years down the line, what's gonna happen? So,

Vaibhav Tiwari: 00:18:54

there are some really cool things that, uh, the team is working upon. We, we really have a cool vision. Uh, I mean, um, the biggest, uh, competitor that I see in the market specifically related to mobile is. They've recently raised Series E Round and it's, it's really far. So we, we've only raised pre series A round and we are close. Profitable. I mean, not exactly. We are, we are close to breakeven and um, uh, with the features we are counting in, I'm looking. I mean, uh, we, we can, we can be a unicorn, but eventually it'll take some time. The

Upendra Varma: 00:19:33

reason being the tech product. Sure, sure. I ask your vision, right, so your vision. So your vision is to become a unicorn in the next five years. That makes a lot of sense. Alright, we, thanks for taking the time to talk to me. It was a wonderful conversation. Hope you scaled your company to much, much greater.

Vaibhav Tiwari: 00:19:46

Thank you, Pence. Thank you for having me, and it was really nice speaking to you as well.

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