In a world where distributed and cross-functional teams are commonplace, being able to communicate efficiently across time zones and organizations is crucial. Your business needs to be able to share important documents, chat, and get things done faster than ever to keep pace with your competitors.
Ryver was designed to house all team communication in one place. Their technology makes managing your team’s collaboration easy, simple, and affordable by organizing it all in one app, complete with group messaging, task management, workflow automation, and more.
How much is Ryver doing in MRR?
Ryver is pure-play SaaS business that generates revenue by billing its customers on a monthly subscription basis. They currently offer three pricing plans, with the starter package beginning at $49 per month, the unlimited offering priced at $99 monthly, and enterprise deals for teams of 500+ employees negotiated individually. On average, Ryver CEO Pat Sullivan noted that customers pay them roughly $70 each month.
With over 1M users and between 1k and 2k total paying customers, Ryver is currently north of $70k in MRR. Founded in 2013 and launched in 2016, Sullivan explained that the company is on track to cross $1M in ARR soon and has grown to scale from virtually no revenue 12 months ago.
What is Ryver’s churn?
In a highly competitive space, churn is a critical metric for Ryver. The company is exhibiting less than 1% gross logo churn per month at this point in time and have hit net negative revenue churn overall.
Specifics around customer acquisition cost were not disclosed, however Sullivan shared that Ryver pays approximately $17 per lead today through digital marketing channels. In terms of budgeting, the company spends less than $30k per month on paid advertising.
How much has Ryver raised?
Ryver has raised $13M in venture capital over their 6 years of operation. The company is not currently profitable, but Sullivan shared that they are on track to hit break even within the next 6 months. Going forward, their board is not interested in raising additional capital nor exiting at this point in time.
Ryver’s team of 20 full-time employees is based in Scottsdale.