Getting traffic to your company’s website is undoubtedly a great thing: it can build awareness, inform your potential customers, provide value, and ultimately drive sales. But, with inherently short attention spans, how do you engage the 98% of people who visit your site, yet never convert?
Privy is a solution built for the SMB eCommerce space to help capture more emails, reduce abandonment and grow online sales. Their software delivers results in minutes with a powerful drag and drop designer, a wide array of display types, intuitive triggers and targeting rules, and conversion-centric reporting.
How much is Privy doing in ARR?
While initially founded as a product to help brick and mortar stores track online conversions, Privy pivoted in 2015 and hasn’t looked back. Today, their pure-play SaaS product generates around $50 per month from their self-service model and $300 from their higher touch, enterprise product.
The company’s freemium model has scaled to 100k active users and 5k paying customers and is at $3.1M in ARR, according to CEO Ben Jabbawy. Privy has exhibited impressive growth and is up from just $1.3M in ARR 12 months ago.
What is Privy’s churn?
Churn is critical in any SaaS business and is especially important when serving customers in the SMB space. Privy is currently at 3-4% gross revenue churn per month, but is exhibiting negative net revenue churn each month. The company is driving expansion revenue based on number of site visits and size of email list.
Fully weighted CAC is not measured by the Privy team at this point in time and the company is not spending any money on advertising. Most new customers are acquired through integrations with brands like Shopify, Wix, and Weebly right now.
How much has Privy raised?
Despite pivoting, Privy did not clean their cap table and retained their existing investors from their first concept. The company has raised $4M in total capital to date.
While Jabbawy explained the company is not currently looking to sell, he keeps an open mind about acquisition talks at all times. Going forward, he believes that his team of 20 full-time employees has a clear path to growth laid out and are focused on executing.
