With the sharing and gig economy in full swing, restaurants have more reach and competition than ever. Services like Postmates, Uber Eats, Caviar, and others make it simple to order online and deliver delicious food directly to your customer, but also complicate operations for the average small business owner.
Luckily, Ordermark was design to make managing all online order easier than ever. Their software and point of sale system help restaurants grow profits while simplifying operations and consolidating all third-party online orders onto a single dashboard in real-time.
Ordermark is a pure-play SaaS business that charges customers on a monthly subscription basis, along with a small fee on a per transaction basis. Pricing is flexible based on volume with the average customer paying between $100 and $150 at this point in time.
According to CEO Alex Canter, the company has grown to serve 1,000 total customers today and is now doing $100k in MRR. The business has scaled impressively over the last year and is up from less than $1,500 in MRR twelve months ago.
What is Ordermark’s churn?
Restaurants are notorious for churn due to poor activation and general closures. Ordermark, with their ability to build a sticky product that brings value immediately, appears to have conquered this issue. At this point in time, the company is exhibiting less than 2% gross logo churn per month.
In terms of customer acquisition, Ordermark is paying around $400 to land a new customers and receives payback within three months on average. New deals have been sourced through content marketing, word of mouth, and digital advertising thus far.
How much has Ordermark raised?
Launched in 2017, Ordermark has grown to scale with $12.6M in outside capital. The company has used this capital to fuel growth through developing a robust product and hiring top talent to fill their leadership team.
Ordermark’s team of 60 full-time employees is based in Los Angeles and Denver.