*The $53M SaaS Nobody Heard Of: How One Founder Self-Funded a Golf Empire With $10M and Zero VC* Golf Genius is the dominant tournament and handicapping software for golf clubs, private courses, and national associations including the USGA and PGA of America. 11,000 clubs. 62 countries. $53M ARR in 2025. Profitable since 2017. Mike Zisman self-funded $10M of his own money from 2009 to 2020, never needed a VC round, sits on $14M cash today, prints 20% EBITDA margins, and still owns a massive chunk of a company where employees hold 60% of the cap table. He's done 10 acquisitions. He's considering a minority recap. And he's more excited about what's next than he's been in years. --- *In this episode:* - How Golf Genius went from $0 to $1M ARR in 8 years — then $1M to $53M in the next 8 - Why Mike structured his own $10M founder loan as interest-free debt instead of equity — and how it saved him millions in taxes - The GolfShot acquisition: 71,000 five-star reviews, 8M users, bought two-thirds in stock to protect cash - How he offers employees secondary liquidity at 409A pricing — twice done, third round coming — without a single outside buyer - Why he thinks AI will make SaaS companies radically more productive, not obsolete — from a founder whose PhD thesis in 1977 was on artificial intelligence --- 👉 *Get funding at Founderpath:* https://founderpath.com/ --- *Golf Genius Key Metrics (2026)* *Revenue:* $53M ARR (2025), targeting $60M+ end of 2026 *Customers:* 11,000 clubs across 62 countries *Product Scope:* Tournament management, handicapping (USGA + 20 countries), retail, coaching, B2C mobile apps *Pricing Model:* $4,200/year per club (core product), suite upsells, B2C subscriptions *Funding:* $10M self-funded debt (2009–2020) + $20M debt from Bridge Bank (2024 acquisitions). Total equity raised: $11M --- *How Golf Genius is Growing* - USGA partnership (2016) and full handicapping system contract (2019, now renewed) created an institutional moat no competitor can replicate without decades of trust-building - B2C expansion via GolfShot and SwingU acquisitions brought 8M+ consumer users into the ecosystem — a distribution channel most B2B golf SaaS companies will never reach - House-of-brands acquisition strategy preserves brand equity of acquired companies while collapsing cap table complexity behind a single LLC entry - 50% engineering headcount (half based in Cluj, Romania) gives Golf Genius a structural cost advantage that funds 20% EBITDA margins while competitors burn cash on US-only teams --- *Subscribe for more SaaS revenue breakdowns:* *Spotify:* https://open.spotify.com/show/3AA9buFn8oxJf8WSDOUks5 *Apple Podcasts:* https://podcasts.apple.com/us/podcast/saas-interviews-with-ceos-startups-founders/id1023761733 *Visit:* https://getlatka.com/companies/golf-genius --- *Timestamps:* 00:00 $53M golf SaaS nobody knows 00:40 Meet Mike Zisman, Golf Genius CEO 01:03 How the platform actually works 02:53 $4,200/year per club explained 03:40 MIT professor turns entrepreneur 05:16 The USGA deal that changed everything 06:13 Backing into $53M ARR live 07:58 20% EBITDA and $14M cash 08:33 Eight years to first million 09:03 Employees own 60% of cap table 11:47 10 acquisitions under $60M revenue 13:51 Would he sell for $400M today --- #saas #bootstrapped #revenue #arr #ebitda #tech #b2bsaas #GolfGenius