Channel partnerships can be a magic recipe for rapid growth. Companies like Hubspot, Evernote, and Inuit have thrived by implementing reseller and partnership programs to expand their reach.
GrowSumo is a unique tool built to provide everything enterprises require to get started and scale their partner, reseller, and marketing programs. Their platform is a fully automated way to on-board, monitor tracking and attribution, manage assets, track partner payouts, and ensure compliance for all of your channel partners.
How much is GrowSumo doing in MRR?
GrowSumo prices on two components: an annualized subscription charged monthly and a performance fee based on transaction volume. On average, companies pay them $1,500 per month, according to CEO Luke Swanek.
The company has facilitated and supports over 270,000 partnerships globally across 200 unique customers. GrowSumo has landed deals with big names like Intuit, Drift, Asana, and Buffer early on and has been growing revenue 25% month over month. Swanek did not disclose specifics behind MRR figures, but did note that the company is below $300k in MRR right now and has not achieved profitability yet.
What is GrowSumo’s churn?
Thanks to their ability to close the value loop, GrowSumo has exhibited impressive customer retention thus far. Each month, the company strategically sends invoices that highlight the massive value driven through their platform alongside their associated fee. With this tactic in place, the company has gotten to monthly logo churn below 2%.
When acquiring customers, GrowSumo has not placed a large emphasis on tracking fully-weighted CAC thus far. Swanek did mention however, that customer success is a point of focus for the company and a significant level of human touch is placed on the on-boarding process.
How much has GrowSumo raised?
GrowSumo is a proud Y Combinator alum and has raised more than $1M in outside capital to date. The company has remained extremely capital efficient to this point and has grown to scale with a team of just 20 full-time employees.
Going forward, GrowSumo has its sights on building relationships with global institutional resellers to help transform the way they bring value to market.