How to Secure $25 Million in Series A Funding

Welcome to The SaaS CFO Podcast! In today’s episode, host Ben Murray welcomes Lyndon Stickley, CEO of Iplicit, and Rob Steele, CFO at Iplicit, for a lively exploration of SaaS, accounting software, and the dynamics of scaling a tech company. Lyndon, a seasoned entrepreneur with multiple exits, and Rob, a finance software veteran, share their unique backgrounds and how they teamed up to breathe new life into Iplicit—a cloud-first finance solution born from a deep understanding of complex ERP challenges in the mid-market.  Listeners will hear the inside story of Iplicit’s evolution, from humble beginnings and sizable personal investment to rapid growth—leveraging over $25 million in Series A funding and a people-centric, remote culture. Lyndon and Rob pull back the curtain on their fundraising process, explaining how clear vision and disciplined focus created high investor demand. They also dive into go-to-market strategies targeting CFOs and FDs, the pivotal role of partners and resellers, and how channel sales are poised to fuel their next phase of expansion.  This episode is packed with real-world insights on the modernization of accounting platforms, the nuanced role of AI in finance, and the metrics that drive SaaS success. If you’re interested in the intersection of SaaS, finance, and innovation—or curious about how to build, fund, and scale a company in a competitive software landscape—this conversation will leave you inspired and informed.  Show Notes:   00:00 The origins of Iplicit software  06:20 Realizing broader customer demand  08:47 Open API for flexibility  10:50 Opening up to growth funds  16:12 Building Investor Relationships  19:47 Challenges in direct sales and marketing  20:36 Shifting to partner sales channels  26:41 Trust and adoption of AI solutions  28:00 Discussing AI native queries  31:06 Growth slowing as company scales  Links:  SaaS Fundraising Stories: https://www.thesaasnews.com/news/iplicit-raises-29-7-million-in-funding/   Rob Steele's LinkedIn: https://www.linkedin.com/in/rob-steele-686a21169/  Lyndon Stickley's LinkedIn: https://www.linkedin.com/in/lyndon-stickley-bab38b78/  Iplicit's LinkedIn: https://www.linkedin.com/company/iplicit/  Iplicit's Website: https://www.iplicit.com/  To learn more about Ben check out the links below:  Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe  Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page  SaaS Metrics courses here: https://www.thesaasacademy.com/  Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout  Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray