Yoseph West. He dreams of a world where accountants and bookkeepers never have to ask their clients for documents—that’s why he joined HubDoc to lead growth. He previously co-founded Vuru, a stock analytics platform for retail investors and led it into its acquisition by Wave Accounting in 2012. Listen as Yoseph shares his experience with Vuru’s acquisition and how he ended up now with HubDoc.

Famous Five:

Favorite Book? – The Hard Thing About Hard Things
What CEO do you follow? – William Rockefeller

Favorite online tool? — Text Expander
Do you get 8 hours of sleep?— No
If you could let your 20-year old self, know one thing, what would it be? – Stay patient

Time Stamped Show Notes:

01:34 – Nathan introduces Yoseph to the show
02:10 – Yoseph co-founded Vuru to make investing easier
- 02:33 – Vuru was making money off ads, they then supposedly reached out to Wave Accounting
- 03:15 – The acquisition was a soft landing
- 03:36 – “All of us want to work with people that we’re excited about”
- 04:29 – Yoseph and his team got a little excited as they talked more with angel investors
- 04:50 – Vuru was having a fundraising
05:30 – HubDoc offers SMBs a cloud accounting space
05:42 – There’s a movement to make accounting space invisible
06:13 – There’s a big shift in the accounting industry
06:40 – HubDoc has a feature similar to how bills and other documents are being consolidated in a bank
07:04 – HubDoc has over 700 web scrapers
07:50 – Business owners won’t be bombarded with reminder emails from their accountants and bookkeepers using HubDoc
08:25 – HubDoc was re-launched in early 2014
08:55 – Number of HubDoc’s paying customers
09:28 – HubDoc caters to bookkeepers and accountants who then add all their clients
10:40 – Average monthly RPU
11:20 – MRR
12:00 – CAC is quite low
12:18 – Customers stay for approximately 32 months
12:30 – Gross monthly churn is usually negative
12:40 – Bookkeepers are always continually adding new clients
13:45 – Lifetime value
14:10 – Team size is 22
14:27 – The Australian market is 3-5 times ahead of the American market
14:40 – HubDoc has raised capital
- 15:00 – The funding market in Toronto described
15:40 – 2017 revenue goal
16:49 – Follow Yoseph on Twitter and HubDoc is looking for content marketers and other marketing people so touch base if you’re interested
19:00 – The Famous Five

3 Key Points:

The future of accounting and bookkeeping is far better with technology; it’s much faster and paperless.
Acquisition is sometimes painful but there are always new opportunities ahead.
Stay patient AND optimize for learning—there’s time to learn and grow.

Resources Mentioned:

Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal
Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens and follow-up with email sequences
@YcWest – Yoseph’s Twitter handle
Show Notes provided by Mallard Creatives

EP 510: HubDoc Hits $132k MRR, 1200 Customers, $2M Raised to Help You Accountants Manage Their Documents with CEO Yoseph West

SaaS Interviews with CEOs, Startups, Founders

EP 510: HubDoc Hits $132k MRR, 1200 Customers, $2M Raised to Help You Accountants Manage Their Documents with CEO Yoseph West