As a business owner, providing healthcare to your employees can oftentimes seem convoluted and confusing. Getting quotes, dealing with representatives, and managing everything with spreadsheets can be a nightmare for any operator looking to run an efficient organization.
Luckily, Limelight Health was designed to provide dynamic and connected quoting for all users in the employee benefits ecosystem. Their software brings comprehensive quoting and decision support that creates seamless end-to-end integrations with the latest technologies.
How much is Limelight Health doing in MRR?
Limelight Health is company that provides both a pure-play SaaS offering and professional services at this point in time. According to CEO Jason Andrew, the company is focusing more on SaaS going forward with 40% of their revenue coming from that product.
Product pricing differs for Limelight Health based on the customer segment. Smaller brokerages pay them approximately $1,800 per month on average based on annual contracts. Enterprise deals, on the other hand, range from $80k to $100k per year, with the average company signing 3-year deals and paying for the first upfront.
Today, the company is doing $420k in MRR across 300 brokerage customers and 5 large enterprise customers. Overall, they are exhibiting healthy growth and are up from $200k in MRR 6 months ago.
What is Limelight Health’s churn?
In their enterprise cohorts, Limelight Health has yet to churn a single entity at this point in time. Within their brokerage segment however, the company is currently at 3% gross logo churn annually.
Customer acquisition is mostly done through field sales right now as the company has allocated eight representatives to enterprise sales at this point in time. Generally, Limelight Health aims for payback within 12 months and is hitting that mark today.
How much has Limelight Health raised?
Limelight Health has raised a total of $11M to date with $2M of that capital coming in the form of debt back in 2015. Going forward, Andrew expressed the company’s plan of raising $30M in the near future at a pre-money valuation north of $50M. Limelight is looking to use the additional capital to fuel growth and expansion through product development.
Limelight’s remote team of 100 full-time employees is distributed throughout the world.
