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Ben Murray

Founder & Fractional CFO, The SaaS CFO · 1 appearance on the record.

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founderexecutivehostoperator@TheSaaSCFO ↗LinkedIn ↗thesaascfo.com ↗

Murray provides fractional CFO services, financial modeling templates, and benchmark frameworks to help software companies establish financial foundations. He hosts The SaaS CFO and SaaS Metrics School podcasts and runs The SaaS Academy, educating founders and finance operators on subscription unit economics, accounting, and fundraising.

10statements → 3claims → 3claims resolved → 100%fully supported → 3.6/5average certainty → 1.6/5average debate potential → 10said about them ↓

3 supported 0 partly supported 0 contradicted how the 3 claims stand · each chip opens the sources

3 assertions · 7 insights · every statement was checked. The predictions and assertions are the 3 claims: statements the public record can support or contradict. 3 are resolved. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Ben argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Murray: Median SaaS seed rounds currently sit at $4 million
“And so this is from the last six months of fundraising announcements that I cover on my site. And you can see these are bottom quartile to top quartile. And seed, ranging around four million.”
Ben Murray Jul 19, 2023 ▶ 5:00 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars

Everything Ben Murray said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight
Murray: Founder-investor fit is the top fundraising priority
“I'd say founder investor fit, probably number one on the leaderboard, is finding that fit with investors with your company.”
Ben Murray Jul 19, 2023 ▶ 2:03 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars
Assertion Supported
Murray: Median SaaS seed rounds currently sit at $4 million
“And so this is from the last six months of fundraising announcements that I cover on my site. And you can see these are bottom quartile to top quartile. And seed, ranging around four million.”
Ben Murray Jul 19, 2023 ▶ 5:00 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars
Assertion Supported
Murray: Median SaaS headcount is 16 at Seed, 36 at Series A
“If you're approaching that seed stage, median employees around 16, series A, 36, 82 for series B.”
Ben Murray Jul 19, 2023 ▶ 13:17 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars
Insight
Murray: Startups need $2M+ revenue before engaging a fractional CFO
“Usually it's a couple million in revenue, at least, because there's enough volume of data going through your company that we can really latch on to. You know, that we can calculate all your metrics, growth metrics, margins, retention, sales and marketing effic…”
Ben Murray Jul 19, 2023 ▶ 21:53 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars
Insight
Murray: Wait until $10M in revenue to hire a full-time CFO
“Usually I say above ten million in revenue is when I think you should have your own CFO are in that range. And it just depends. But less than ten million can definitely take advantage.”
Ben Murray Jul 19, 2023 ▶ 22:45 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars
Insight
Murray: Scaling GTM before product-market fit burns significant startup capital
“Be careful if you're overlaying go to market fit on top of your product market fit, that's going to cost you a lot of money.”
Ben Murray Jul 19, 2023 ▶ 10:38 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars
Assertion Supported
Murray: Post-crash median SaaS Series C rounds dropped to $30M–$50M
“You can see with the SAS crash, you know, big rounds, and now the median C down in the 30 to fifty million range. And there's a line missing from this chart, but also the volume of activity went down for median series C ranges, you know, or rounds.”
Ben Murray Jul 19, 2023 ▶ 10:54 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars
Insight
Murray: SaaS CFOs need bank partners for treasury and asset management
“CFOs, I think, we're operators you know, we don't know where maybe to place that money, and that's where usually you need to partner with A good bank in their treasury function to help, have that guidance to help you.”
Ben Murray Jul 19, 2023 ▶ 19:38 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars
Insight
Murray: CFOs need a dedicated tech roadmap for finance and accounting
“So CFOs need their own product roadmap for their finance and accounting organization.”
Ben Murray Jul 19, 2023 ▶ 27:12 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars
Insight
Murray: SaaS companies under $10M ARR typically outsource their accounting
“Usually what I see less than ten million they are, your accounting is outsourced. Rarely do I see someone, an in-house accountant or controller, which is nice.”
Ben Murray Jul 19, 2023 ▶ 24:36 SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars

The other half of the tape: Ben Murray's own voice is left out of every number here. Other people bring the name up 10 times in 3 episodes on Top Founders. every mention, with the transcript →

Who brings them up most David Appel 7Andrew Gauthier 2Nathan Latka 1

Every mention by year

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002.515220232024episodesmentions per episode
2024 1 mention in 1 episode
2023 9 mentions in 2 episodes 5 per episode

Appearances (1)

EpisodeDateSpeaking time
SaaS Founder Confessionals: Lessons Learned From Raising $500 Million Dollars Jul 19, 2023 16m
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