In the consumer goods world, scaling your business can be extremely complicated. You must be able to manage your sales, distribution, wholesale, supplier, and retail relationships all at once and ensure they’re on the same page.
Luckily for growing businesses, Bizom emerged on the scene in 2012 to help bring these processes and relationships into the 21st century. Their mobile-first, cloud solution is aimed towards helping consumer product companies digitize their sales force, distribution, and retailer workflows when entering emerging markets.
How much is Bizom doing in MRR?
Bizom is a pure-play SaaS company that charges its customers on a per user, per month basis. With pricing beginning at just $60 per user each month, the company is playing in the mid-market today and is generating approximately $2k in revenue from their average customer each month.
According to CEO Lalit Bhise, Bizom is currently serving 307 total customers and is doing $600k in MRR right now. The company has exhibited 8% month over month growth for the last two years and is up from $350k in MRR 12 months ago.
What is Bizom’s churn?
Bizom has exhibited healthy retention thus far and is churning only 1.3% of their logos each month. The company has a team of 30 employees focused on driving expansion revenue and has been able to grow contracts 150% year over year, on average. Bhise noted that Bizom has achieved net negative revenue churn annually.
The company is exhibiting a CAC payback period between 6 and 12 months today. Bizom hit profitability in 2015 before raising additional venture capital earlier this year.
How much has Bizom raised in total?
Bizom has raised $4M in total capital to date, according to Bhise. The company is focused on growth today and is burning roughly $200k in cash each month to fuel additional customer acquisition efforts.
Going forward, their team of 150 employees in India is aiming to find new ways to increase their month over month expansion and ultimately reach a 12% monthly growth rate.