Whether you’re an entrepreneur running your own company or an employee aiming to take your career to the next level, education is critical. If you’re not constantly investing time into learning the latest techniques, strategies, and trends, you’re susceptible to falling behind as competition intensifies.
Bizversity was born to become the world’s best and most accessible business training resource. Their platform gives individuals and enterprises access to more than one thousand business training videos across 80 topics, available on any device.
How much is Bizversity doing in MRR?
Bizversity is a pure-play SaaS platform that offers free trials and charges on a monthly subscription basis. They offer 40% discounts on annual plans and charge between $14 and $21 per month for recurring subscriptions.
The company spent the entirety of 2017 as a free product to build awareness and just began monetizing in the last month. Thus far, Bizversity has converted 160 users to paid customers and is doing $2.2k in MRR right now. Going forward, CEO Dale Beaumont is focused on exploring ways to drive more enterprise deals and thinks this could be a substantial growth channel for the company.
How much has Bizversity raised to date?
Bizversity is a bootstrapped company, at this point in time. Beaumont, a successful self-publishing author, has funded the company from Business Blueprint, an event-based education company. Business Blueprint serves 600 total customers today, with each generating $10k in revenue annually.
Despite the profitable nature of his event company, Beaumont has shifted focus towards Bizversity as a means to create a more scalable business.
How is Bizversity reducing churn?
Churn is typically high in the education space, with the average customer churning after just 4 months. Bizversity believes their focus on gamification and building relationships with individual customers, combined with their incentives for annual plans, will build stickiness within their product.
Going forward, only time will tell if this young platform can reach critical mass with their learning platform. The team of 22 full-time Bizversity employees is confident they can own this space and change the way businesses learn forever.