As the old adage goes, you can’t manage what you don’t measure. And, as a business owner, perhaps nothing is more important to measure than the productivity of your employees and work force.
Oitchau was built to help business save money and time by managing their employees’ workday in real time. Their software platform helps small and medium-sized businesses control overtime limits, spend less on payroll, and reduce fraudulent behavior.
How much is Oitchau doing in MRR?
Outchau is a pure-play SaaS business that charges its customers on a per seat basis each month. While pricing varies based on volume, the average customer pays them around $100 monthly at this point in time, CEO Lonny Szneiberg shared.
With 200-300 total customers landed since the company officially went live in August of 2018, Oitchau is now doing approximately $30k in MRR. According to Szneiberg, the company is on track to hit $1M in ARR by August 2019.
What is Oitchau’s churn?
While still in the early days, Oitchau is currently exhibiting 2-3% logo churn per month. Their customer success team is dedicated to on-boarding new clients and found getting seven employees on their platform to significantly improve stickiness.
Customer acquisition comes mostly through converting users from their free, 14-day trial subscription. While Szneiberg explained that much experimentation is yet to be conducted on paid channels, the company aims for a 3 month payback period when landing a new deal.
How much has Oitchau raised?
Founded in 2017 when Szneiberg left Investing.com ($60M in ARR), Oitchau has grown to scale with $1.6M in outside capital, primarily from angel investors. The company is not interested in raising additional capital at this point in time.
Oitchau’s team of 14 full-time employees is based entirely in Brazil.