Remote teams are prevalent within most scaling businesses in 2018. Regardless of the industry you’re playing in, distributed employees are here to stay. Yet, with the immense convenience afforded by remote work, accountability and productivity need to be ensured. This is where Hubstaff thrives.
Hubstaff is a desktop and mobile app that makes tracking time easier than ever. Once time is tracked using their app, users can invoice clients, pay employees, see in-depth reporting and much more. Their tools measure activity levels, take screenshots, and track location data to ensure you’re getting the most out of your workforce.
How much is Hubstaff doing in MRR?
Hubstaff is a pure-play SaaS company that charges its customers on a monthly subscription basis. Today, they are helping 7,500 business owners and managers track output and reduce waste.
While the company offers a free model for solo entrepreneurs, paid plans begin at $7 per user per month. The average customer pays Hubstaff $43 monthly and, according to CEO Dave Nevogt, the company is doing $315k in MRR right now. This figure marks 95% growth year over year due in large part to a move upmarket and newly deployed features.
What is Hubstaff’s CAC?
Hubstaff acquires a majority of their customers via word of mouth and SEO today. While the company has experimented with paid channels, they have yet to gain significant traction. Overall, Nevogt noted their fully-weighted CAC to be around $100 at this point in time.
Churn still remains an issue for this Midwest-based startup. Hubstaff is exhibiting 6% gross logo and revenue churn per month at present. Nevogt explained that credit card failure alone is responsible for roughly 25% of all churn today.
How much has Hubstaff raised?
To date, Hubstaff has grown to scale solely by bootstrapping. Headquartered in Indianapolis, their entire team of 40 employees, including 25 engineers, are remote. Nevogt and the entire leadership team have no interest in raising outside capital in the near future.
