As your business scales, having a functional org chart is paramount for running efficiently and maintaining the chain of command. If all roles and responsibilities are clearly defined, it becomes easy to bring in new talent and sustainably grow your operation.
Pingboard was built to make it easy for businesses to organize their teams, plan for growth, and keep everyone informed. Their software replaces static org charts with real-time, collaborative versions that are kept up-to-date automatically and accessible from anywhere.
How much is Pingboard doing in MRR?
Pingboard is an enterprise solution that charges its customers on a monthly subscription basis. According to CEO Bill Boebel, the company’s average customer pays them around $220 per month right now.
With 1,200 total paying customers, Pingboard is now north of $260k in MRR, Boebel confirmed. The company is growing fast and is up from the $2M in ARR mark in January of 2018.
What is Pingboard’s churn?
Boebel explained that churn has typically been attributed to poor integration within the customer’s HR software during on-boarding and has been a recent focal point of improvement. At this point in time, Pingboard is exhibiting 1.5% gross revenue churn per month with 100% net revenue retention.
A large portion of Pingboard’s customer acquisition comes through their free product today: the company lands 3,500 new free users each month. Overall, they spend approximately $2k to acquire a new paying customer, receiving payback in about 12 months.
How much has Pingboard raised?
Founded in 2014, Pingboard has raised $7.5M in total outside capital across 3 seed rounds. The company is looking to take on venture debt in the near future, but continues to operate on Boebel’s “Touch Zero” model:
We have a Touch Zero Date, which is the basis of my whole operating strategy. A Touch Zero Date is the moment when two key data points align: we reach $0 in the bank account and profitability. That means we don’t go out of business or need to raise more money; we are always in control of our own destiny.-Bill Boebel, Anatomy of our $5 million seed round
Going forward, Boebel did not rule out the idea of raising a larger round of venture capital, but is patient in doing so.
Pingboard’s team of 23 full-time employees is headquartered in Austin.