{"podcast":{"title":"SaaS Interviews with CEOs, Startups, Founders","slug":"saas-interviews-with-ceos-startups-founders-46902","podcast_index_feed_id":46902,"rss_url":"https://nathanlatkathetop.libsyn.com/rss","website_url":"http://getlatka.com","image_url":"https://static.libsyn.com/p/assets/a/9/2/c/a92c13a488d25883e5bbc093207a2619/Master_Template.png","author":"Nathan Latka","episode_count":3086,"summary":"What if you knew data behind the fastest growing SaaS companies today? Each morning join Nathan Latka as he spends 15 minutes interviewing SaaS founders. You'll learn how SaaS CEO's launched their startup and grew it into a real SaaS business. SaaS Founders range from bootstrapped to funded, MVP to 10,000 customers, pre revenue to pre IPO.","last_synced_at":"2026-06-04T04:19:10.512238+00:00","page_url":"https://stenobird.com/podcast/saas-interviews-with-ceos-startups-founders-46902"},"episode":{"title":"$28M Series A at $100M Val: The Pest Control SaaS Nobody Saw Coming","slug":"28m-series-a-at-100m-val-the-pest-control-saas-nobody-saw-coming","published_at":"2026-05-27T12:00:00+00:00","page_url":"https://stenobird.com/podcast/saas-interviews-with-ceos-startups-founders-46902/28m-series-a-at-100m-val-the-pest-control-saas-nobody-saw-coming","show_page_url":"https://stenobird.com/podcast/saas-interviews-with-ceos-startups-founders-46902","url":"https://nathanlatkathetop.libsyn.com/28m-series-a-at-100m-val-the-pest-control-saas-nobody-saw-coming","audio_url":"https://podtrac.com/pts/redirect.mp3/traffic.libsyn.com/secure/nathanlatkathetop/pestshare-clements-10m-arr-100m-valuation-ep.mp3?dest-id=284781","summary":"How do you build a $100M SaaS company by charging apartment residents $5 a month to keep rats out of their bedroom? Justin Clements is the co-founder and CEO of PestShare, an on-demand pest control platform embedded inside property management software. He bootstrapped from 2019 to 2020, raised just $5M over two rounds, then closed a $28M Series A at a $100M valuation in 2025, the same year he crossed $10M ARR. You'll learn: — Why PestShare's revenue model is structured like a warranty, and why that makes it nearly impossible to churn — The difference between contracted ARR and live ARR, and how that gap almost killed their valuation story — How embedding into the lease instead of selling direct to residents creates structural GRR that VC-backed competitors can't replicate — What it actually took to raise at 10x ARR from an investor that only backs 9 companies at a time — Why Justin's Series A investor pushed him to take $3M in personal secondary and why he says it made him take bigger swings — How IGP's PE background forced a full COGS and gross margin rebuild right after closing the round — Why \"if you don't see pests it means the product isn't working\" is the exact wrong way to think about pest control retention — How PestShare went from $1M (2022) to $5M (2024) to $10M (2025), doubling every year with under 1x ARR in prior capital raised — What property managers actually pay vs. what residents pay and how PestShare navigates that split without losing either side — Why Justin chose a hyper-concentrated, low-profile fund over a brand-name VC, and what they got in return Connect: YouTube: youtube.com/@NathanLatkawatch PestShare: pestshare.com Founderpath: founderpath.com","meta_description":"How do you build a $100M SaaS company by charging apartment residents $5 a month to keep rats out of their bedroom? Justin Clements is the co-founder and…","key_points":[],"chapters":[],"topics":[],"duration_seconds":1281,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/saas-interviews-with-ceos-startups-founders-46902/episodes/28m-series-a-at-100m-val-the-pest-control-saas-nobody-saw-coming/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/saas-interviews-with-ceos-startups-founders-46902/28m-series-a-at-100m-val-the-pest-control-saas-nobody-saw-coming.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}