The Intersection of Digital Transformation and Customer Experiences with Zhi Li of Customer.io

The Modern CFO

As customer expectations continue to evolve, marketers must adapt by delivering more personalized, timely, and efficient communication. This is where the online marketing platform Customer.io truly shines.

Customer.io enables tech-savvy marketers to engage with their customers in a more meaningful way through emails, SMS, push notifications, and more. For the fast-growing SaaS companies that Customer.io serves, this capability could translate into stronger customer relations, higher conversion rates, and increased scalability.

In this episode of The Modern CFO, host Andrew Seski talks with Customer.io CFO Zhi Li about his nonlinear career path, the impact Customer.io can have within organizations, how marketers can use AI as a fractional assistant, and more.

Show Links

• Check out Customer.io
• Follow Customer.io on LinkedIn, Twitter, and Instagram
• Connect with Zhi Li on LinkedIn
• Connect with Andrew Seski on LinkedIn

Transcript
Please note that the transcript is AI-generated and may contain errors. The content in the podcast is not intended as investment advice, and is meant for informational and entertainment purposes only.

[00:00:00] Andrew Seski: Hello, everyone. Welcome back to another episode of The Modern CFO Podcast. As always, I'm your host, Andrew Seski. Today, I'm joined by Zhi Li, CFO of Customer.io. Zhi, thank you so much for being here today.

[00:00:21] Zhi Li: Thanks for having me.

[00:00:23] Andrew Seski: So I'd love to talk about your career progression, the route to the CFO role, your first time as a CFO in earlier companies. But before we do so, I'd love to hear a little bit of background as to what you were interested even in undergrad and some of the first roles that you had, you know, right out of Penn.

[00:00:41] Zhi Li: Yeah, yeah. So maybe just a little bit of myself and then we can probably launch into different topics that would go in there. But so I was born in China and then grew up in the Bay Area and then went to Penn. You and I just chatted about like Philly, which is the city that I really love. But after Penn, I actually started my career in Canada. So I was in finance at a wireless division of a large telco called Bell Canada. And then after that, I moved back to the US. So I worked in investment banking in New York in the tech group of Credit Suisse. So if you follow banking, you know, Credit Suisse might be called UBS or First Boston later on or something like that. So that's the some of the new dynamic there. But I learned a lot during that time in banking. Worked a lot as well but, you know, on many tech M&A and IP financing deals there and also get to interact with a ton of smart, hard-working, talented people. And then after that, I actually moved to Seattle cold turkey. And the backstory to that was my wife and I were both actually in grad school in LA. When I took the job to move to New York, I made a deal with her and say, Hey, you know, we need to transfer your grad school. She's got two more years. You know, whenever you are ready to leave, I'll hold up by end of the bargain. So no questions asked. When you're ready to leave New York, then I'll go. So the time came. This is probably like seven years ago. She says she wants to move to Seattle closer to her family. And then, I picked up and go. I did not know anybody in Seattle going in. But Seattle, I — now, like it's home for me. So I love it. It reminds me of maybe the Bay Area when I was, you know, many, many years ago, you know, back in high school when I kind of grew up in the Bay Area. So but yeah. So now, I'm in Seattle. I focus on helping fast-growing SaaS companies, helping them scale. So, you know, the one of the company was Skytap, which is a Seattle-based enterprise SaaS company. And we did a number of transactions, including a Series E Round led by Goldman Sachs. And then after that, I was with MedBridge. So it was a growth P/E-backed company, and we sold the company from one growth P/E to another growth P/E. And now, I'm at Customer.io. So very happy at the momentum and everything that we have here at the company. So just really, I think, very fortunate to be part of this growing story with Customer.io. Yeah, so that's generally the work background.

[00:03:07] Outside of work, I also, you know, spend time doing the alumni interview for the Penn undergrad admission, which I always find super refreshing to see the fresh applicants every year. And I've always been amazed with the quality of the applicants. And then also, I'm on the board of an organization called LCYC — Legal Counsel for Youth and Children. So we're focused on advancing the rights of our youth and children so.

[00:03:35] Andrew Seski: That's a pretty incredible resume. I want to — we're gonna pick it all apart, but let's start right at your last and current role right now, Customer.io. And I'm curious to know first, what attracted you to the firm, the leadership, maybe some of the cultural ways that the firm's been building out over the last decade, and also maybe the value add of working together. I know there are a million SaaS solutions out on the marketplace today. The venture world has been in flux over the last few years. So I'd love to learn a little bit more about the firm, how you're delivering value to clients, and what got you most excited. And you've been there for about two years now, so, you know, maybe bring us back two-ish years.

[00:04:19] Zhi Li: Yeah, yeah. So just a little bit about Customer.io. So we're a leading multi-product, customer engagement platform. I think today, it's actually super exciting day 'cause we have our new launch of customer data pipeline that we launched today for early access. So, you know, throughout the last 10 years or so, our core product has been the Customer Engagement Platform, where we allow tech-savvy marketers to engage with their customers through emails, SMS, and push notifications, and also in-app messaging. And now, we also allow a new product called the Data Pipelines, so we can leverage first-party data to create more unified view for our customer records. So super exciting.

[00:05:00] And I think what really attracted me — with my background, I've looked at a ton of software SaaS companies and looking at like their value and their potential. I was really attracted to number one, it's founder-led. So Colin, our CEO, has been there from day one. He's got this really long-term vision, and I really kind of feel aligned with that vision. And also, we are very horizontal in terms of like our approach to our customers. So we want to partner with early tech companies. So if you're like a VC-backed early company, we want to be partnered with you early on and grow with you, and then just try to be, you know, as you kind of advance and mature as a company, we will be part of that. And so throughout that journey, we were able to provide a lot of value for you to engage with your customer. The company's also fully remote, which I find super refreshing as well. When I joined, it was just right around the COVID time, so people are like definitely warming up to that remote idea. But the company...