230. Crisis Coverage w/ David Rabie – Finding PMF, Raising Series B, & Navigating a Startup Amidst the Pandemic



David Rabie of Tovala joins Nick on a special Crisis Coverage installment to discuss Finding PMF, Raising Series B, & Navigating a Startup Amidst the Pandemic. In this episode, we cover:

  • I was just checking and we had you on the show back in March of 2016... that was over 4 years ago, pre-launch, during your Kickstarter campaign.  So crazy how much time has passed.  Can you refresh us on the origin story of Tovala...
  • We've invested in the pre-seed, seed, Series A and now Series B round... and we're fortunate to have a front row seat while  you and the team built an amazing company but bring the audience up-to-speed on the last few years... what have been the key milestones/inflection points?
  • Your revenue was strong, hovering near mid seven figures ARR, until Q3 2019 when it took off at a growth rate like I've never seen... accelerating past $10M ARR and continue a rapid growth rate, even during the crisis.  What changed that caused the ramp?
  • How do you define PMF and when did you know you reached it?
  • What tech companies do you compare yourself to and how do you measure up?
  • North Star Metrics?  LTV, Payback, Yearly Spend, Retention? Overall, how has the crisis affected your business?
  • What are the major levers/measures you've taken to reduce cost?
  • Talk to us about raising the B round -- and How it was trying to raise as the pandemic hit?
  • Let's talk about what's next for Tovala...  On the oven side (Read more...)