Virtual events are on the rise throughout the world. In a recent survey conducted by the PCMA Education Foundation, it was found that 67 percent of respondents expected to leverage technology to remotely participate in events for the coming three years.
vFairs was designed to help businesses host amazing virtual events that make them stand out. Their offering makes it easy for companies to host virtual job fairs, online tradeshows, open days, and with a customizable virtual event software backed with robust customer service.
How much is vFairs doing in ARR?
vFairs is a pure-play SaaS business that charges its customers on both a monthly and annual basis. According to CEO Muhammad Younas, around half of the company’s deals come from annual licenses at this point in time. On average, customers pay them approximately $30k each year for an annual license.
With 65 paying customers today, vFairs is currently doing more than $2M in ARR right now. The company has more than doubled revenue in each of the last two years and is up from around $80k in MRR twelve months ago.
What is vFairs’ CAC?
Younas explained that a large portion of the company’s growth has come via referrals and word of mouth thus far. In terms of paid acquisition, they have recently began experimenting with Google AdWords and are spending $10k each month on that channel.
vFairs has just started investing in growing their outbound sales team in the last two months, is spending between $4k and $5k to land a new customer today, and receiving payback within 6 months.
Customer retention has been strong for vFairs early on. Among their monthly subscribers, the company is seeing 80% annual gross logo retention, while customers who sign an annual contract are exhibiting 95% gross logo retention yearly.
How much has vFairs raised?
Founded in 2015 by Younas, vFairs has grown to scale as a solely bootstrapped entity. As the business continues to evolve, Younas hinted at the company’s interest in raising venture capital, but, for now, no plans are in play.
vFairs team of 40 full-time employees is spread across four different countries.
