8Base
8Base started as a backend-as-a-service product, with Albert Santolo building an API-first low-code platform. The company bootstrapped successfully, growing to $1.5M ARR by early 2021 with 1,200 customers paying $100/month on average, and a largest customer generating $240,000 annually.
Albert's strategy was to dogfood the product while building it out. The team ran professional services engagements implementing 8Base for customers while simultaneously developing the missing half of the product—the frontend tools. This hybrid approach funded R&D and validated the market. By the time of this interview, the frontend tools had launched and the company had expanded to about 60 people, with 40 core engineers. Additionally, 8Base opened an offshoring operation in Medellín, Colombia as a wholly-owned subsidiary.
After proving out the business model and completing enough R&D, Albert decided it was time to raise venture capital. He closed a Series A of $10.6M with two closings in February and April. The capital raise was from Foundry Group out of Boulder, with Chris Moody leading the round. Notably, Albert didn't negotiate on valuation (which implied an $80-100M company valuation), instead focusing on finding the right partner and securing clean terms—no ratchets, no liquidation preferences. He praised the term sheet as the cleanest he'd seen in a decade of fundraising.
8Base's positioning narrowed the competitive landscape significantly: "JavaScript applications." Rather than forcing developers to learn a new language, the platform lets the 14 million JavaScript developers in the world use their existing skills. The company implemented an 8Base Academy with video content, transcriptions optimized for SEO, and taxonomy-based organization of learning materials—generating organic traffic through Google. The business model shifted away from services-heavy implementation to building an ecosystem of external providers who implement 8Base for customers, freeing the team to focus on product-led growth.
8Base is positioning its platform as capable of handling MVPs through to hypercale applications without rearchitecting. The frontend and backend tools are evolving toward a unified product experience while maintaining the flexibility that makes it appealing to framework developers like React and Vue.js developers. The company is moving from a bifurcated product experience to a cohesive full-stack offering, with aggressive R&D into both backend core services and frontend flexibility.
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