As your business grows, you naturally begin relying more and more on your ERP to achieve scale. So, when it comes time to commit to a process management software, you need to ensure you’ve found the right fit for your needs, with minimum customization required.
Brightpearl was designed as a powerful all-in-one back office solution, built specifically with retailers and wholesalers in mind. Their software provides a complete cloud-based back office solution to help retailers and wholesalers grow efficiently.
How much is Brightpearl doing in ARR?
Brightpearl is a SaaS solution that also provides professional services. They charge their customers on an annual, upfront basis and have an overall ARPU of around $1k with new annual deals landing at approximately $27k.
According to CEO Derek O’Carroll, the company serves more than 900 total customers today and is doing $11.3M in ARR right now, along with another $1M in professional services. Brightpearl has grown significantly since O’Carroll took over as CEO in 2016, growing 30% year over year. The company is aiming for $13.5M in ARR by the end of 2018.
What is Brightpearl’s churn?
Historically, churn has been an issue for Brightpearl, but with a a move upmarket, the company has been able to reduce gross annual revenue churn from 20% two years ago to just 13% at this point in time. Thanks to upsells, O’Carroll noted that Brightpearl has hit net negative revenue churn and is exhibiting 102% net revenue retention annually.
Customer acquisition remains an area of focus for Brightpearl in 2018 as they look to decrease their payback period. At present, the company is receiving payback within 19 months, but is aiming to hit 12 months in the near term.
How much has Brightpearl raised?
Overall, Brightpearl has raised $45M in venture capital thus far. Their team of 84 full-time employees are based in the U.K., U.S., and India and are gearing up to continue their move upmarket and hit their ambitious ARR goal.
