Massive global brands often struggle when it comes to gaining transparency and granular data around their product’s performance. With a myriad of retail and eCommerce channels, it can seem impossible to gain the necessary intelligence needed to optimize product mix and performance overall.
Sky IT Group was built to remedy complex business problems with innovative technology and targeted solutions. Their platform has become the world’s leading sales and inventory platform for retailers and wholesalers and is designed to easily share and report on sales and inventory data between merchant and supplier.
How much is Sky IT Group doing in ARR?
Sky IT Group operates on a pure-play SaaS business model and charges its customers on a monthly basis. With a wide range of prices based on features and footprint, the average customer pays them approximately $1,300 each month right now.
With 500 total customers, Sky IT Group is doing around $8M in ARR today, CEO Jay Hakami explained on The Top Entrepreneurs podcast. The business has more than doubled year over year and is up from just $250k in MRR twelve months ago.
What is Sky IT Group’s churn?
Launched ten years ago, Sky IT Group has developed an extremely sticky product and have lost virtually no customers other than by way of closure of business. The company has also found effective pricing axises for driving expansion revenue and is currently exhibiting 140% net revenue retention annually, according to Hakami.
Through partnerships with retailers, Sky IT Group has been able to drive customer acquisition cost down relative to their peers. Today, the company will spend approximately 10-15% of first year contract value on landing a new customer and receives payback with two months.
How much has Sky IT Group raised?
Founded in 2008, Sky IT Group has grown to scale without any outside capital. The fully bootstrapped business has no intentions of raising capital or exiting at this point in time.
Sky IT Group’s team of 45 full-time employees is split between eastern Europe and New York.