Mistral.vc

A Product Market Fit Show | Startup Podcast for Founders

Business EN ↓ 292 episodes

Every founder has 1 goal: find product-market fit. We interview the world's most successful startup founders on the 0 to 1 part of their journeys. We've had the founders of Reddit, Gusto, Rappi, Glean, Cohere, Huntress, ID.me and many more.  We go deep with entrepreneurs & VCs to provide detailed examples you can steal.  Our goal is to understand product-market fit better than anyone on the planet.  Rated one of the world's top startup podcasts.

Author

Mistral.vc

Category

Business

Podcast website

www.pmf.show

Latest episode

Jul 6, 2026

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Episodes

He raised $150M with $0 revenue. Then hit $1M ARR in 4 months. | Michel Tricot, Co-Founder of Airbyte 02.03.2026

Michel raised $185M and achieved a unicorn valuation before he fully cracked monetization. How? By building a community so strong it broke his engineering team. In this episode, Michel breaks down the chaotic journey from a failed YC marketing idea to becoming the standard for open-source data movement. He reveals why he killed a high-growth fintech product, how he used the "Magic Wand"...

He failed for 5 years. Then hit $20M ARR with 100% outbound. | Didi Gurfinkel, Founder of Datarails 26.02.2026

Didi spent five years building a product that no one really wanted. He raised $10 million, tried endless pivots, and was known as the "black sheep" of his investors' portfolio. Then, with his back against the wall, he made one final bet on a boring, unsexy market: FP&A for Excel users. In this episode, Didi breaks down how that final pivot turned into a rocket ship. He reveals w...

His startup powers OpenAI's Voice Mode. Last month, they became a unicorn. | Russ d’Sa, Co-Founder of LiveKit 23.02.2026

Russ was running a moderately successful live streaming startup. Then he got a terrifying offer from a tech giant: sell to us for cheap, or we'll crush you. He had no leverage. He was about to fold. Then he got an email from OpenAI. They had secretly built ChatGPT's voice mode on his infrastructure. Overnight, everything changed.  In this episode, Russ reveals the wild story of how LiveK...

He pivoted at $1M ARR—then raised $120M. | Kevin Tian, Co-Founder of Doppel 19.02.2026

Kevin was building a successful startup in the NFT space. They'd hit $1M ARR. But he looked at the market and realized it wasn't big enough. So he made the terrifying choice to pivot the entire company into cybersecurity. In this episode, Kevin breaks down how he navigated that transition without killing the business. He reveals how he sold his first $5k/month contract with no product, w...

He sold his first startup for $100M. Then raised $250M in 18 months. | Dileep Thazhmon, Founder of Jeeves 16.02.2026

Dileep sold his first company for over $100M. For his second act, he didn't just want another win; he wanted to solve a problem that banks refused to touch: global business banking. In this episode, Dileep breaks down how Jeeves scaled to $7M ARR in just over a year by doing things that "don't scale"—like physically mailing credit cards to Argentina.  He reveals the counterintu...

He sold his first 2 startups. His 3rd grew to $1M ARR in 3 months. | Chaz Englander, Founder of Model ML 12.02.2026

Chaz has founded 3 companies. The first sold for over $40M. The second sold to GoPuff for even more. Now, he’s on his third act with Model ML, having just raised $75M Series A <2 years in. In this episode, Chaz breaks down the playbook behind his successes. He reveals how he raised his first million by pitching strangers on LinkedIn, why his delivery startup was just a text message system on th...

He fired all his customers. Then built a $1B startup in 2 years. | Jay Madheswaran, Co-Founder of Eve 09.02.2026

Jay was running a respectable AI startup with $3M ARR. But he knew it wasn't a venture-scale rocket ship. So, he decided to fire all his customers, pivot the entire company, and bet everything on a new vertical: legal AI for plaintiff attorneys. Eve went from zero to unicorn status in under two years, raising $100M at a $1B valuation.  In this episode, Jay breaks down the brutal reality of pi...

He wrote the book on Account Based Marketing. Here are his GTM secrets for enterprise. | Bassem Hamdy, Founder of Briq 05.02.2026

Bassem took Briq from a failed data idea to a Series B leader in construction financial automation. But the path wasn't linear.  In this episode, Bassem reveals how he pivoted to RPA bots, why he killed a high-growth fintech product to survive the 2023 cash crunch, and how he uses a relentless "Go-to-Market" strategy. He breaks down his exact ABM playbook, why he hates trade shows,...

He got rejected from YC—then grew to $1.8B in under 2 years. | Max Junestrand, Founder of Legora 02.02.2026

Max went from a YC rejection to building a $1.8B company in less than two years. His company, Legora, is the fastest YC-backed company to become a unicorn in history.  His path to insane growth was not standard: after raising a massive Series A, Max told his board he was pausing all new sales for six months to rebuild the product infrastructure. In this episode, Max breaks down the "burn the...

He sold dog food from his condo. Now he does $100M+ a year. | Russell Breuer, Founder of Spot & Tango 29.01.2026

Russell went from working in private equity to hand-delivering dog food on the NYC subway at 5 a.m. He didn't start with a VC check; he started with a studio apartment kitchen and a belief that dog food was broken. In this episode, Russell breaks down how he turned a side hustle into Spot & Tango, a direct-to-consumer giant doing over $100M in revenue.  He reveals the gritty reality of ea...

He made 100 cold calls a day. Now his startup is worth $600M. | Harman Narula, Founder of Canary Technologies 26.01.2026

Harman went from cold-calling hotels 100 times a day to building the category-defining guest management platform for the hospitality industry. Canary built a $600M company by first solving one tiny, annoying problem: paper credit card authorization forms. In this episode, Harman breaks down how a simple digital form became the wedge into thousands of hotels. He reveals why they stuck with outbound...

He got 100k signups in 30 days. They all churned. 2 years later, he hit $10M ARR. | Rich White, Founder of Fathom 22.01.2026

In this episode, Rich breaks down the wild story of Fathom's launch. He reveals how they secured a prime spot on the Zoom Marketplace and generated 100,000 signups in 30 days—only to realize 99.9% of them were useless.  He discusses the pivot to monetization when the market crashed, how to design a product for viral loops, and why staying in private beta for 10 months was the best decision he...

He grew his startup to $150M ARR & an IPO. Now he's back for the AI wave. | Bob Tinker, Founder of MobileIron & BlueRock 19.01.2026

Bob is a serial entrepreneur who founded MobileIron, grew it to $150M in revenue, and took it public. Now, he's back with his fourth startup, BlueRock, tackling the next massive wave: agentic AI security. In this episode, Bob breaks down the distinct difference between finding Product-Market Fit and finding Go-To-Market Fit—and why confusing the two can kill your company.  He shares the exact...

How his AI-enabled Services startup hit $1M ARR in just 3 months. | Shahar Peled, Founder of Terra Security 15.01.2026

In less than 12 months, Shahar went from an idea to a $30M Series A and a team of 40. He didn't sell another AI tool—he built an AI-first service that replaced expensive human consultants in the massive pen-testing market. In this episode, Shahar breaks down the "Service-as-Software" playbook that allowed him to hit $1M ARR in just three months. He reveals how to convert design part...

He hit $1M ARR with just 2 people. 2 years later, he's worth $1.5B. | Ashwin Sreenivas, Co-Founder of Decagon 12.01.2026

Ashwin built a $1.5B company in two years. He didn't do it with a massive team or a complex 5-year roadmap. He did it by ignoring "strategy" and talking to 100+ buyers until he found a problem so painful they would pay six figures for a solution that didn't fully exist yet. In this episode, Ashwin breaks down the exact playbook Decagon used to go from zero to unicorn. He reveal...

His 1st startup failed. His 2nd became a unicorn in just 18 months. | Jake Stauch, Founder of Serval 08.01.2026

Jake founded Serval in April 2024— by Dec 2025 he'd raised a $75M Series B from Sequoia at a $1B valuation. He didn't look for a "wedge" or a "niche." He looked at ServiceNow—a $160B, 20+ year-old incumbent that everyone IT team relies on—and rebuilt it from the ground up in a YEAR.  In this episode, Jake reveals the audacity behind building a full-platform replacemen...

It took him 4 years to launch—then he hit $1M ARR in 30 days. | Siqi Chen, Founder of Runway 05.01.2026

Siqi was the CEO of a hot startup doing $20M a year. Then COVID hit. Overnight, revenue went to zero. He had to lay off 95% of his staff. In the chaos of trying to save the company using broken spreadsheets, he found his next big idea: Runway. But the path wasn't a straight line. Siqi spent four years building the product before fully launching.  In this episode, he breaks down why product ta...

Solo Episode: B2B SaaS is dead. Here's what the best AI founders are doing instead. 29.12.2025

The startup game has completely changed. If you are still building with the 2018-2022 B2B SaaS playbook, you are already behind.  In this episode, we break down exactly how the GenAI shift has altered value creation, competition, and business models forever. This isn’t just about adding AI to your product—it’s about rethinking your entire reason to exist.  If you want to know where the massive, un...

He got rejected by 60 VCs, burned all his savings—then grew to $100M ARR & a $2B valuation. | Kyle Hanslovan, Founder of Huntress 22.12.2025

For the holiday break we are resurfacing some of our best episodes so far. Here is the best episode of season 3. Kyle left his job as a hacker at the NSA to launch Huntress. He bootstrapped for 3 years and burned all his savings. One of his co-founders quit. He got into an accelerator program, but had to sleep in his car for 16 weeks because he couldn't afford a hotel. Finally, 3 years in he&...

He killed a $100K ARR product & pivoted—then raised $375M. | Viraj Parekh, Co-Founder of Astronomer 18.12.2025

They were building a Segment competitor. It was working—customers were paying. But every sales call, prospects kept asking about the backend tech instead of the product.  So they killed the roadmap and pivoted. It took them 18 months to hit $1M ARR. Then they started growing. And so far, they've raised $350M.  Viraj walks through exactly how he validated the pivot, landed the first 10 custome...

Solo Episode: The Five Steps to Product Market Fit 15.12.2025

For the holiday break we are resurfacing some of our best episodes so far. Here is the best episode of season 2. Here are the key lessons from the past 60 episodes that we've released to date.  Each of the 5 steps to Product Market Fit is based on actual case studies with real examples you can use. It's a recap of everything I've learned over the last two years- you don't want...

He killed a viral app with 50k users. 2 years later, he hit $10M ARR and raised $30M from Sequoia. | David Paffenholz (Juicebox) 11.12.2025

David had a consumer app with 50,000 users and viral traction—and he shut it down. The retention metrics weren't as good as what he'd seen at Snapchat. That difficult decision cleared the path for Juicebox, AI for recruiting that grew to $10M ARR in 2 years.  In this episode, David reveals how he pivoted to AI recruiting, generated millions of views with a simple LinkedIn demo, and groun...

Her VCs said she killed the company. 6 years later, it's worth $1.3B. | Jennifer Smith, Founder of Scribe 08.12.2025

Jennifer went from VC to founder and immediately broke every rule in the book. When she pivoted Scribe from an automation tool to a documentation platform, her investors told her she had just killed the company. She ignored them.  Instead of polishing her product, she launched a "janky" offline MVP on Product Hunt to test for real market pull. Scribe is now used by 95% of the Fortune 500...

He exited to Snap for $166M— built an AI video startup, then raised $50M. | Alex Mashrabov, Founder of Higgsfield AI 04.12.2025

Alex built the original Snapchat filters-- and sold his company to Snap for $166M.  Then he left to start Higgsfield. The company just raised a $50M Series A to help brands create AI-generated video ads at scale.  We go deep on why he thinks Adobe is in trouble, how top advertisers are already producing 10,000+ ad creatives a year, and why the companies winning in AI video aren't building fou...

How his AI-first services company grew $0 to $40M ARR in one year. | Eric Foster, Founder of Tenex 01.12.2025

Eric spent 30 years in cybersecurity. Built and sold an MSSP to private equity for hundreds of millions. Then he started Tenex and hit $43 million in revenue in ONE YEAR.  This isn't theory. This is a founder who's done it multiple times breaking down exactly how AI-native companies are about to eat every services industry alive. If you're building anything that touches AI, services...

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