In today’s competitive sales environment, you need to be an email master. If you’re not taking advantage of the plethora of ways you can optimize your email open and response rates, you could be leaving large sums of money on the table.
Luckily for sales and other customer-facing professionals, Mixmax was built to help improve productivity and engagement through email. Their platform helps track emails, efficiently schedule meetings, manage templates, and send emails at the perfect time.
Mixmax is a pure-play SaaS business that charges its customers on a per seat basis each month. While the company does volume discounts for enterprise teams, the average user pays them around $40 per seat each month.
According to CEO Olof Mathé, Mixmax is working on bolstering their business intelligence, but is currently serving 10k unique credit cards today and north of $5M in ARR at this point in time. The business has more than double revenue year over year and is up from approximately $2.5M in ARR twelve months ago. Going forward, Mathé noted that $10M in ARR is “within striking distance.”
What is Mixmax’s customer acquisition cost?
Growth for Mixmax has come from both adding new customers and driving expansion through number of seats and adding features. Mathé explained that churn minimization is not a priority for the company right now as they have shifted their focus to serving enterprise customers in a top-down model.
Paid customer acquisition is a fairly new activity for Mixmax, as the business only began experimenting with advertising channels five months ago. Going forward, the company is comfortable spending up to $500 to land a new customer with payback in 12 months or less.
How much has Mixmax raised?
Founded in 2014 and launched in 2015, Mixmax has grown to scale with $13M in funding thus far, with the latest round coming in January 2018. The company has just launched the second iteration of their product and is not looking to raise additional funding at present.
Mixmax’s team of 48 full-time employees is based in San Francisco and other remote locations.