Getting honest feedback from your customers is crucial for you business’ long-term strategy. You need to understand how people interact with your products and services, identify your strengths, and find valuable opportunities for growth.
Consent.io was built to create a universal platform for customer feedback. They believe that users and companies alike are ready for a more open, democratized approach to market research and have constructed a solution that delivers insights in this manner.
How much is Consent.io doing in MRR?
Consent.io is a pure-play SaaS company that charges its customers on a monthly basis. Today, businesses pay them anywhere from $300 to $3k per month, with an ARPU of $1,500.
According to CEO Rado Raykov, Consent.io has landed 10 total customers thus far and is doing $15k in MRR today. The company, launched in Amsterdam less than 2 years ago, is focused on landing mid-market and enterprise customers going forward.
What is Consent.io’s churn?
Churn is critical in any SaaS business and Consent.io has experienced this early on. Raykov explained that churn was high among their piloted customers initially, but they’ve been able to deploy strategies to minimize it. To date, Consent.io has only churned one of its ten paying customers.
In terms of customer acquisition, Consent.io is finding new leads through direct sales, investor introductions, conferences, and event sponsorship. They are paying between $1,500 and $2,500 in CAC at this point in time and are receiving payback within 2 months.
How much has Consent.io raised?
Consent.io has raised $500k in outside capital, coming in the form of both convertible notes and equity. Going forward, they will be looking to raise a seed round in the next 9 months, Raykov noted.
Their team of 10 full-time employees is split between Bulgaria and Amsterdam and is focused on growing their footprint within Europe. Consent.io is looking to cross $50k in MRR before raising approximately $1M on a $5M valuation
