When it comes to workforce retention, nothing is as powerful as creating a strong emotional connection between your company’s missions and your employee’s core values. If you can find people who align with your purpose and give them meaningful and impactful experiences during working hours, you will quickly outpace your competitors.
Benevity’s Goodness Platform helps brands bring their social mission to life with technology to build a positive workplace culture, amplify the impact of corporate giving, and power pro-social brand engagement. Their software helps businesses create compelling giving programs that help attract, retain and engage their diverse workforce and build an emotional connection between their company and causes.
How much is Benevity doing in ARR?
Benevity is a diversified business that generates revenue from professional services, transaction fees, and their SaaS platform. According to CEO Bryan de Lottinville, the company attributes 50% of their total revenue to SaaS alone right now.
Pricing for the company’s SaaS solution ranges on team size and functionality, but today’s average customer pays around $100k annually, de Lottinville shared. Benevity is focused on serving companies with more than 500 employees and is consequently currently turning away around 60% of their leads that do not meet this criteria.
With 450 total customers, Benevity is doing roughly $45M in ARR right now. Over the last five years, the company has grown exhibited a 82% compounded growth rate and is currently growing in the mid-40% range.
What is Benevity’s churn today?
Benevity has built an extremely sticky product, showing 98% logo retention over the last twelve months. While specifics weren’t disclosed, de Lottinville explained that the company is well north of 100% net revenue retention annually as well.
When acquisition was discussed, do Lottinville noted that their CAC was “frighteningly low”. Today, the company is using word of mouth and organic traffic to grow their business, landing new deals with a payback period of around one month.
How much has Benevity raised?
Launched in 2008, Benevity has grown to scale by raising $38M in total outside capital. Their team of 500 full-time employees is based in Canada and remote locations.