How Glean and Huntress Reached $100M ARR

Targeting specific customer segments can unlock opportunities. Kyle identified a need within smaller businesses.

"I realized...there was a lot of the market that was never going to have access to my talent. So how could I distill my talent into a product for all the businesses that fall below that 1% Fortune 500?"

• Recognized unmet needs in a niche market. • Adapted expertise to serve smaller businesses. • Niche focus can lead to substantial impact.

Technical prowess alone may not secure investment. Kyle emphasizes mastering storytelling to convey value.

"I didn't know how bad I was at pitching...Some of your biggest hurdles might actually be how you sell your own story."

• Effective pitches require clear communication. • Understanding investor perspectives is crucial. • Storytelling bridges technical and business gaps.

Convincing investors of a novel idea can be tough. Arvin faced doubts when pitching enterprise search solutions.

"But nobody actually wanted to invest in this idea that I had...search inside the company...I had investors actually come and tell me...don't do enterprise search, do something else."

• Remained steadfast despite investor doubts. • Believed in solving a real industry problem. • Sometimes founders must educate investors.

Wisdom from experienced founders is invaluable. Arvin and Kyle offer succinct guidance for newcomers.

Arvin: "Well, work hard and actually believe in your idea, don't give up." Kyle: "You can ship much earlier than you believe, even if it's busted broken, if it's delivering value, it's probably good enough."

• Persistence is key to overcoming challenges. • Early product release can accelerate learning. • Value is confirmed when customers are willing to pay.

Recognizing product-market fit isn't always immediate. Both founders discuss the elusive nature of this realization.

Kyle: "I didn't believe it because of the bootstrapping...I almost couldn't believe my own success...even when I had it, I didn't know." Arvin: "Same here actually...I still feel we're still looking for it...you have to continuously iterate and keep learning."

• Product-market fit may not be obvious at first. • Continuous iteration remains essential. • External validation can aid self-recognition.

Deciding how much market research to conduct can be challenging. Arvin focused on solving a known problem over detailed analysis.

"I think first you have to start with fundamentals...if you see a problem that you believe a large number of people have, that's enough...I don't need to actually go and quantify that with dollars."

• Trusted intuition about a widespread problem. • Prioritized solution development over analysis. • Real-world problems can indicate market size.

Debates about hustle culture are common. Kyle and Arvin share insights on balancing hard work with smart decisions.

Kyle: "There is a real misnomer...If you just grind infinitely hard...you'll have success. I actually think that is a huge misnomer." Arvin: "It's important to actually work really hard...you're setting a culture and an example for the company as it grows."

• Hard work is essential but must be strategic. • Founders influence company culture through actions. • Awareness of trade-offs is crucial in growth.

Achieving product-market fit often requires bold actions. Kyle's decisive move underscores taking calculated risks.

"We scratched up all of our last cash...We slept in the car going down...That was our big moment that produced our first handful of customers...the flywheel never stopped at that point forward."

• Invested final resources in a pivotal event. • Direct engagement led to first customers. • Bold actions can catalyze growth momentum.

Fundraising can be arduous, especially when entering new markets. Kyle's perseverance demonstrates resilience in the face of rejection.

"At least 60 nos that I counted...Some of your biggest hurdles might actually be how you sell your own story."

• Faced numerous rejections from investors. • Realized the importance of refining his pitch. • Persistence and adaptability led to eventual success.

Founders often face the dilemma of leaving success to tackle new problems. Arvin's decision highlights the importance of addressing real pain points.

"...we had this one big problem like everybody in the company was complaining about like not being able to find any information inside our company. And I'm a search engineer...we should go and buy a product...there's nothing to buy."

• Arvin identified a critical issue within his own company. • Leveraged his expertise to fill a market gap. • Shows that addressing genuine problems can justify starting anew.