Event planning and execution is an industry that continues to grow. As people become more and more connected globally, hosting engaging events that bring individuals together from all parts of the world hold more value than ever.
Hubb is a business built to help planners better manage events and conferences. Their software helps conference managers save time, relieve stress, and get their content to market faster.
How much is Hubb doing in MRR?
Hubb is a SaaS business that also generates approximately 25% of their revenue from professional services. Pricing varies on event size with some enterprises paying well into the six figures annually. According to CEO Allie Magyar, the current average customer pays Hubb around $20k annually.
With 110 SaaS customers, Hubb is doing $180k in MRR at this point in time. Magyar noted that the company has doubled revenue each year since 2015 and is up from $90k in MRR twelve months ago.
What is Hubb’s churn?
Due to the volatile nature of the event business, Hubb has experienced 20% gross logo churn per year due mostly to conference and business shut downs. On the other hand, the company has done a good job of driving expansion revenue within their retain customer base and is exhibiting 110% net revenue retention annually.
In terms of customer acquisition, Hubb lands new deals primarily through content marketing at this point in time. The company pays approximately $5k to land a new customer and receives payback within 4 to 5 months.
How much has Hubb raised?
Launched in 2012 as an internal tool for Magyar’s agency, Hubb spun out of the agency with a clean cap table in 2014 and $3M in initial cash from Magyar. The company has since gone onto raise $10M in total outside capital and just closed a Series B.
Hubb’s team of 40 full-time employees is based in Portland and Seattle.