There are a number of task management applications designed for employees working from behind a desk. What sets TakeTask SA apart from applications such as these, though, is that TakeTask is a task management app designed for deskless workers such as retail employees, helping them better organize and execute various day-to-day tasks and communicate the completion of those tasks to their fellow employees and management. So far, the results of this innovative approach to product management have been astounding.
- ARR: $2,000,000
- Valuation: $10,000,000
- ARPU: $5,000
- Team Size: 20
Understanding the Model That Has Yielded TakeTask’s $10,000,000 Valuation
TakeTask has adopted a unique approach to task management software by focusing its services on deskless employees. This includes factory workers, retail employees, field employees, and anyone else who does not regularly work from a computer. When an employee does not have regular access to a computer, staying updated on the tasks they are responsible for and communicating key information can be a challenge. Typical task management applications are not especially well-suited for deskless employees, and the companies overseeing these employees instead are forced to rely on a hodgepodge of solutions that include paper documents, text messages, and word-of-mouth communication.
By delivering an intuitive and easy-to-use mobile application where deskless employees can track their assignments, log updates, communicate key information, and beyond, TakeTask serves essentially as a version of Clickup for deskless employees. Given TakeTask’s current $10,000,000 valuation, the demand for this type of solution is clearly evident. Offering a task management application that is specifically designed for on-the-move employees has enabled to TakeTask to attract customers in industries not typically served by task management applications, including retail, service and maintenance, delivery, and manufacturing.
How TakeTask Generates an ARPU of $5,000
TakeTask is an enterprise SaaS service that comes available in several different subscription plans. The monthly fee for using TakeTask is charged on a per-user basis, enabling the company to profit heavily from large clients while at the same time making TakeTask affordable for smaller customers as well. According to TakeTask founder and CEO Sebastian Sarzyńskis, most clients purchase a plan that costs €15 ($17.71) per user per month. With many of TakeTask’s customers having hundreds or even thousands of users on the app, TakeTask has been able to generate a substantial amount of revenue since the app was launched in 2018, achieving $5,000 in average revenue per user.
TakeTask’s 16 Customers
As an enterprise software solution, TakeTask isn’t an application that requires a multitude of customers in order to achieve profitability. Instead, it’s the size of the customers that TakeTask has been able to attract that have made this application successful. Shell is one such customer that has partnered with TakeTask in order to provide task management solutions to its employees. The largest customer of TakeTask so far, though, is the Polish government, which has utilized TakeTask as a home quarantine monitoring solution throughout the COVID-19 pandemic that brought in around nine million user accounts.
Breaking Down TakeTask’s $2 Million ARR
Only about half of TakeTask’s revenue comes from SaaS. In addition to charging for the application on a per-user basis, Sebastian Sarzyńskis says that the company also generates revenue from implementation fees – which are $5,000-$7,000 on the low end and up to $70,000 for customers with more demanding implementation requirements. TakeTask also charges for special integrations and customizations of the software for customers that require additional features. Between these services and the revenue generated from SaaS, TakeTask has been able to reach an ARR of $2 million.
TakeTask’s $60,000 ACV
Because of its focus on attracting large customers, TakeTask has been able to achieve an ACV of $60,000. According to Sebastian Sarzyńskis, though, the company’s customer cost of acquisition is something that is very difficult for them to track. He explains that the sales cycle for bringing in new customers tends to be quite long — sometimes upwards of a year — making customer cost of acquisition a metric that the company does not actively track.
$1 Million Total Capital Raised
To date, TakeTask has raised right at a million dollars in capital. The current breakdown of TakeTask’s equity ownership is as follows:
- Sebastian and co-founder: 60%
- ESOP plan: 8%
- Polish Seed VC: 5%
- Angel investors: 20%
In the near future, though, TakeTask is hoping to raise an additional $2-$3 million on a $10 million valuation. Sebastian Sarzyńskis says that most of this money will go toward business development. The company has plans to launch a sales team in the United Kingdom. After that, they’re eventually onboarding sales teams in Germany, France, and the United States.
Plans to Grow From 16 Customers
TakeTask is currently geared toward larger organizations. However, Sebastian Sarzyńskis says that the company does have plans to dramatically grow its customer base. They’re working on a version of the application that’s better suited for smaller organizations such as restaurant chains. This new application will be launched on a single server and will be designed for smaller tickets. This will make it much faster and affordable to implement. TakeTask is currently testing this new version with eight small retailers, hoping to launch by the end of the year.
TakeTask’s 20 Team Members
Right now, TakeTask employs 20 team members but plans to add an additional 5 team members when the company launches its UK sales team. Of these 20 team members, 10 are engineers. TakeTask offers an ESOP plan to these team members that includes 8% of the company’s equity.
About TakTask CEO Sebastian Sarzyńskis
In addition to serving as the founder and CEO at TakeTask, Sebastian Sarzyńskis has also served as the Co-Founder at the Education for the Future Foundation. This foundation localizes the resources of Khan Academy Foundation in Poland. He is described as a futurist and evangelist of artificial intelligence, Big Data, the Internet of Things, nanotechnology, collaborative economy, and human enhancement.