As more and more applications move to the cloud, security and management of your assets is becoming increasingly important. And, for large enterprises, keeping track of your cloud spend is critical to reducing bottom line and running lean.
Thanks to Adya, companies can now save time, reduce errors, secure data, and save costs on all of their SaaS applications. Their software is at the forefront of the Cloud Applications Management market and is bringing traditional IT operations to SaaS applications.
How much is Adya doing in MRR?
Adya is a pure-play SaaS product that charges its customers on a per user, per month basis. On average, customers pay them between $2 and $3 per user each month with an average deal size of around 50 seats.
According to CEO Deepak Balakrishna, the company is serving 8 total customers right now and is doing $1k in MRR at this point in time. Adya is a new platform, launching just 4 months ago, and is aiming to land mid-market deals going forward.
How is Adya acquiring customers?
While still too early to have established metrics around customer acquisition, Adya has acquired their first eight customers via existing relationships and channel partners. According to Balakrishna, the company pays 20% commission on referrals in perpetuity.
Despite being a young company, Adya has yet to churn any customers; Balakrishna credits their customer success team with creating this stickiness.
How much has Adya raised?
Adya has raised just $250k in outside capital from a small friends and family round. The company is looking to hit 20 total customers and $15k in MRR before raising a seed round.
Balakrishna noted that the company is only burning $10k in cash each month, with their team of 5 engineers in India, and will look to raise an equity round in the U.S. They are aiming to raise within the next 6 months and feel confident in their ability to hit these ambitious goals.