TJM Labs · B2B · AI agents for pharmacies
Announce your funding round to make hiring easier
Founder says it makes hiring talks a lot easier; no numbers
Workedpr-launchteam-process
What they did
Initially stayed quiet about funding, modeled on Veeva; switched to announcing rounds (press release for the $10M A, $15M A1 and $75M B) because candidates worry a startup will go away, and a big raise reassures them.
What happened
Founder says it makes hiring conversations a lot easier
In their words
Top Founders with Nathan Latka · Doctor Strikes it Rich with AI Tool, $10m ARR in 6 Months | TJMLabs CEO Jonathan Adly“However, we have decided that announcing is a good idea, because as we're hiring and we're ramping up, it helps a lot with talent.”
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More from this episode
- TJM Labs: Build your first version for one desperate customer you already knowBecame a $1M+ a year customer; sole customer for 9 months
- TJM Labs: Price each AI agent per year, just under one employee's salary$45K per agent a year; pharmacies average 2.5-3 agents
- TJM Labs: Let happy customers bring in their friends before hiring a sales team~30 pharmacies through customer referrals alone
- TJM Labs: Use LinkedIn as your main outbound sales channelFounder says the team does great work there; no numbers
- TJM Labs: Sell AI agents as a replacement for hired staff, not as softwareFounder says small pharmacies go from 2% to 8% margins
- TJM Labs: Buy small companies in your space mainly to get their teamsUnder 5% of growth came from the deals; bought for the team
- TJM Labs: Raise money while profitable, before you need it$100M raised in ~6 months at 40% EBITDA, with no pitch deck
- TJM Labs: Set your valuation from public company multiples and a bottom-up forecastRaised at over 15x ARR
- Galen AI: Turn a problem you keep solving as a consultant into a productBootstrapped; acquired after ~1.5 years, soon after its first enterprise customer