# 8base Financial Model Low-code/no-code platform providing backend and frontend development tools for building digital products, internal apps, and SaaS. - Canonical: https://finamodel.com/startups/8base - Excel download: https://finamodel.com/startup-models/8base.xlsx - Category: Dev Tools - Model type: SaaS ARR / Valuation - Funding round: Series A - Funding: $10.6M - Founded: 2022 - Geography: US-primary (Miami/FIU ties implied by customer logos); cloud-delivered globally via AWS (Google Cloud coming soon) [DECK, slide 6]. - Customer: B2B ## About the company 8base is a low-code platform for teams building SaaS products, internal tools, marketplaces, and customer portals. It combines a headless backend, managed database, serverless functions, security controls, and a visual, code-extensible frontend builder - giving developers flexibility without the burden of managing cloud infrastructure. The company targets professional developers who need more flexibility than a closed no-code tool can provide. Its pitch deck highlights headless architecture, self-hosted deployment, and DevOps-free infrastructure, alongside plans to expand further into internal tools. 8base was raising a $10 million equity round to fund marketing, product development, executive hires, and a transition from direct services to solution partners. The financial model separates recurring SaaS revenue from professional services, with services declining as partners take on more implementation work. A monthly ARR waterfall tracks new customers, expansion, and churn, then links to the P&L, headcount plan, and cash runway. Scenarios flex acquisition, retention, services mix, margins, and hiring to test the stated goal of growing recurring revenue tenfold over 18 to 24 months. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## Product & value proposition - Headless backend-as-a-service: visual data schema builder, managed relational database, serverless functions, role-based security, auth/SSO, email/SMS services, auto-generated GraphQL API. - Frontend builder: drag-and-drop progressive web app builder, rich component library, fully code-extensible, connects to any backend. - DevOps-free serverless architecture - no cloud infrastructure management required. - SaaS-delivery or self-hosted deployment options. - App Builder product (internal tools) flagged as a future expansion to move up-market. - Target use cases: multi-tenant SaaS, micro-SaaS, marketplaces, portals, BPM applications, consumer apps, field-workforce apps. ## Market - TAM framing: Low-code is "quickly cannibalizing the $500B yearly Worldwide Custom Software Development Market". - Projected Low-Code Development market size (Forrester, via slide 12): - 2016: $2,800M | 2017: $3,800M | 2018: $4,350M | 2019: $6,525M | 2020: $10,114M | 2021F: $15,170M | 2022F: $21,239M. - Developer universe growth (Morgan Stanley, via slide 4): - Low-code developers: 1.8M (2019) → 6.2M (2024); 28% CAGR. - No-code developers: 0.8M (2019) → 2.5M (2024); 25% CAGR. - Combined CAGR called out as 27%. - Gartner: "By 2024, 65% of app development will be done using low-code tools". ## Revenue model - SaaS subscription implied (recurring revenues referenced explicitly in slide 13: "10x recurring revenues in 18-24 months"). - Services revenue implied (deck mentions transitioning services to an ecosystem of solution partners as a use of funds, suggesting current direct services component). - Channels: direct (current), partner/ecosystem (planned post-raise). ## Traction & metrics - Customer logos shown: FIU, IBM, NATO/OTAN, VIZSLA, photag, LEADVOLT, collab-grow, Resident, BIGFOOT CAPITAL, Tradeblock, Livo - ~11 named customers/logos. - Recurring revenue base exists (implied by "10x recurring revenues" target) but current ARR level not stated. - No revenue figures, MRR/ARR, user counts, churn, NRR, or growth rate disclosed in the deck. ## Competition / moat - Competitive positioning: 8base sits in the "Low-Code" tier for professional developers; Bubble cited as a "No-Code" example. - Differentiators called out: headless architecture, fully programmable, managed relational DB, DevOps-free serverless, powerful GraphQL API, SaaS or self-hosted. - Moat narrative: architectural flexibility + headless backend vs. more opinionated no-code alternatives; SOC II compliance in progress to enable enterprise/mid-market. ## Team & funding ask / use of funds - Founder & CEO: Albert Santalo (LinkedIn: albertsantalo). - Funding ask: $10 million equity round. - Use of funds (four pillars): 1. Enable Marketing Engine 2. Transition Services to Ecosystem of Solution Partners 3. Expand Executive Team 4. Double-Down on Product Development - Target outcome: 10x recurring revenues in 18–24 months. --- ## Recommended financial model - **Archetype + why:** SaaS ARR model with a services/professional-services revenue line. Core revenue is subscription (recurring), with a transitional services component being handed off to partners. A blended SaaS P&L is appropriate: ARR waterfall (new, expansion, churn, net) + services revenue declining as % of mix + headcount/opex build-out. - **Forecast horizon & granularity:** 3 years monthly (Month 1–24 critical given the "10x in 18–24 months" target stated in deck); Year 3 can step to quarterly. Monthly needed to track the marketing engine ramp and hiring plan against the funding burn. - **Key drivers & assumptions:** | Driver | Value | | -- | -- | | Starting ARR | Unknown - need actual figure | | ARR growth target | 10x in 18–24 months | | Implied ARR CAGR (18 months to 10x) | ~88% YoY | | Revenue mix: SaaS vs. services (Year 1) | 70% / 30% | | Services mix decline | Falls to ~10% by Year 3 as partner ecosystem absorbs it | | Gross margin - SaaS | 70–75% | | Gross margin - services | 30–40% | | Blended gross margin | ~60–65% | | New logo adds per month (post-raise) | 5–10/month initial, ramping as marketing engine activates | | Average ACV | Unknown - not in deck | | Net Revenue Retention | 110–120% | | Gross churn (annual) | 10–15% | | CAC payback period | 12–18 months | | Headcount adds | Sales/marketing + exec team ramp post-raise | | Burn rate / runway | ~$500K–$700K/month opex at scale; model to solve for runway | | Market CAGR (low-code) | 28% (low-code dev users); $15B+ market by 2021F | - **Scenarios (Base / Bull / Bear - which variables flex):** - **Base:** 10x ARR in 24 months; services mix declines steadily; gross margin expands to 68% by Year 2. - **Bull:** 10x in 18 months; strong NRR (120%+); partner ecosystem activates faster, reducing direct services cost. - **Bear:** ARR growth stalls at 3–4x in 24 months (marketing engine slower to activate); higher churn from small/startup customer base; services margin squeezed. - Flex variables: new logo adds per month, ACV, churn rate, services mix, headcount ramp timing. - **Required sheets / outputs:** 1. Assumptions dashboard (all drivers in one place, color-coded input cells) 2. ARR waterfall (beginning ARR + new + expansion − churn = ending ARR, monthly) 3. Revenue build (SaaS subscription + services, monthly) 4. P&L (gross profit, S&M, R&D, G&A, EBITDA) 5. Headcount plan (by function, linked to opex) 6. Cash flow & runway (burn rate, funding tranches, months of runway) 7. Scenario toggle (Base / Bull / Bear outputs side-by-side) 8. KPI summary (ARR, MRR, customers, NRR, gross margin, LTV/CAC if assumptions populated) ## Frequently asked questions ### Is the 8base financial model free? Yes. The 8base model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.