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PE Investment in LumiQ to Educate the Accounting Profession
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Welcome back to another insightful episode of The SaaS CFO Podcast! Today, we have an enlightening conversation with Michael Kravshik, the co-founder and CEO of LumiQ. Starting from its humble beginnings between 2015 and 2016, LumiQ has evolved from a recruitment-focused product for CPAs to a leading platform in CPA education, officially launched in 2019. Now operating across North America with a dedicated team in Toronto, LumiQ has achieved impressive milestones, including surpassing an annual recurring revenue of $10 million and securing its first institutional funding through a private equity deal.
Join us as Michael shares his journey in transitioning from traditional CPA roles to innovative banking security, and the entrepreneurial path that led him to creating LumiQ. We’ll dive into LumiQ's unique monetization strategies, their go-to-market approach, and the intricate process of maintaining and expanding CPE credits for finance professionals. Michael also provides valuable insights on fundraising, the importance of transparency with investors, and the impacts of cultural differences on business growth. Tune in for a deep dive into the world of SaaS financial leadership and learn from Michael’s firsthand experiences and strategic outlook.
Show Notes:
00:00 Founded Lumiq, an educational podcasting platform.
04:20 Content and platform integration ensures compliance.
07:19 Founded in 2015-16; launched Lumaq in 2019.
12:05 Initially targeted small businesses, expanded to accounting firms.
15:02 Focused on sustainable, cashflow-positive business growth.
16:51 We prioritized transparency, fostering strong investor trust.
21:49 Canadians less risk-taking, impacting growth and stability.
25:51 Alignment with partners is crucial for success.
27:44 ARR and cash are primary focus metrics.
30:38 Caring deeply about CPAs drives success.
Links:
SaaS Fundraising Stories: https://www.thesaasnews.com/news/lumiq-secures-funding-round
Michael Kravshik’s LinkedIn: https://www.linkedin.com/in/michaelkravshik/
LumiQ’s LinkedIn: https://www.linkedin.com/company/lumiqlearn/
LumiQ’s Website: https://lumiqlearn.com/
To learn more about Ben check out the links below:
Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe
Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page
SaaS Metrics courses here: https://www.thesaasacademy.com/
Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout
Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray
195 episodes
Fetch error
Hmmm there seems to be a problem fetching this series right now. Last successful fetch was on June 19, 2025 11:05 ()
What now? This series will be checked again in the next day. If you believe it should be working, please verify the publisher's feed link below is valid and includes actual episode links. You can contact support to request the feed be immediately fetched.
Manage episode 461072106 series 3458049
Welcome back to another insightful episode of The SaaS CFO Podcast! Today, we have an enlightening conversation with Michael Kravshik, the co-founder and CEO of LumiQ. Starting from its humble beginnings between 2015 and 2016, LumiQ has evolved from a recruitment-focused product for CPAs to a leading platform in CPA education, officially launched in 2019. Now operating across North America with a dedicated team in Toronto, LumiQ has achieved impressive milestones, including surpassing an annual recurring revenue of $10 million and securing its first institutional funding through a private equity deal.
Join us as Michael shares his journey in transitioning from traditional CPA roles to innovative banking security, and the entrepreneurial path that led him to creating LumiQ. We’ll dive into LumiQ's unique monetization strategies, their go-to-market approach, and the intricate process of maintaining and expanding CPE credits for finance professionals. Michael also provides valuable insights on fundraising, the importance of transparency with investors, and the impacts of cultural differences on business growth. Tune in for a deep dive into the world of SaaS financial leadership and learn from Michael’s firsthand experiences and strategic outlook.
Show Notes:
00:00 Founded Lumiq, an educational podcasting platform.
04:20 Content and platform integration ensures compliance.
07:19 Founded in 2015-16; launched Lumaq in 2019.
12:05 Initially targeted small businesses, expanded to accounting firms.
15:02 Focused on sustainable, cashflow-positive business growth.
16:51 We prioritized transparency, fostering strong investor trust.
21:49 Canadians less risk-taking, impacting growth and stability.
25:51 Alignment with partners is crucial for success.
27:44 ARR and cash are primary focus metrics.
30:38 Caring deeply about CPAs drives success.
Links:
SaaS Fundraising Stories: https://www.thesaasnews.com/news/lumiq-secures-funding-round
Michael Kravshik’s LinkedIn: https://www.linkedin.com/in/michaelkravshik/
LumiQ’s LinkedIn: https://www.linkedin.com/company/lumiqlearn/
LumiQ’s Website: https://lumiqlearn.com/
To learn more about Ben check out the links below:
Subscribe to Ben’s daily metrics newsletter: https://saasmetricsschool.beehiiv.com/subscribe
Subscribe to Ben’s SaaS newsletter: https://mailchi.mp/df1db6bf8bca/the-saas-cfo-sign-up-landing-page
SaaS Metrics courses here: https://www.thesaasacademy.com/
Join Ben’s SaaS community here: https://www.thesaasacademy.com/offers/ivNjwYDx/checkout
Follow Ben on LinkedIn: https://www.linkedin.com/in/benrmurray
195 episodes
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