If you’re a business playing in the hospitality industry, you need to understand where your service is exceeding expectations and falling short. Gathering insight directly from your customers is the fastest way to improve your offering and put yourself in a position to win long-term.
ReviewPro is a platform built to help businesses in the hospitality industry improve their guest experience. Their software makes it easy to interface directly with guests, conduct satisfaction surveys, manage individual cases, and manage online reputation across all platforms.
How much is ReviewPro doing in ARR?
ReviewPro is a pure-play SaaS business that charges its customers on an annual basis with their average customer signing 26 month contracts. Deal size varies widely based on hotel size and features, according to CEO RJ Friedlander and, based on revenue and customer count, the company’s average revenue per user is north of $360 annually at this point in time.
With 43k total paying customers across 150 countries, ReviewPro is currently doing $15M in ARR, Friedlander confirmed on The Top Entrepreneurs Podcast. The company has grown more than 30% year over year and is up from $11.7M in ARR twelve months ago.
What is ReviewPro’s churn?
The ReviewPro founding team leveraged their lack of experience in the hotel industry to listen to their customers and create a product they loved. This has driven stickiness in a volatile industry and has the business exhibiting less than 10% gross revenue churn annually.
Customer acquisition is fairly dynamic for ReviewPro, as they sell four core products to hotels of all shapes and sizes throughout the world. Friedlander explained that their CAC is “very, very small” relative to their average contract values and comes from remote sales teams and content marketing efforts.
How much has ReviewPro raised?
Launch in 2008 as a bootstrapped entity, ReviewPro eventually went on to raise $5M in total outside venture capital, prior to their acquisition. The company sold 80% of its equity to a private equity firm in 2016 for $28M, with Friedlander retaining a large portion of the remaining equity and staying on as CEO.
ReviewPro’s team of 110 full-time employees is based in Barcelona and other remote locations.
