In the eCommerce world, seemingly small improvements can drive massive upticks in revenue. Bringing personalization, remarketing, cart recovery, and other tools to your site can have profound impacts on bottom line.
HiConversion was built as the world’s first and only adaptive experience optimization solution for eCommerce businesses. Their software helps companies achieve high returns from incremental lifts, discover new profitable audiences, and optimize customer experiences without IT dependency.
How much is HiConversion doing in MRR?
HiConversion is pure-play SaaS product built for enterprises that charges its customers on a monthly subscription basis. On average, customers pay them around $5k per month today, but the company is currently in the process of moving downstream and creating a more simplified product at a lower price point.
According to CEO Zee Aganovic, HiConversion serves more than 100 total customers right now and is doing $500k in MRR. The company, through strategic partnerships with eCommerce leaders, has grown revenue 10x in the last twelve months and is up from just $50k in MRR one year ago.
What is HiConversion’s churn?
HiConversion is currently exhibiting 10% gross revenue churn annually. With product line pricing based on volume of site visits, the company grows as their customers grow and has net revenue retention north of 100% at this point in time.
HiConversion’s main source of new customers comes from their strategic partnerships right now. The company has deployed a four person sales team to close new deals and is aiming for payback within one month, despite falling short of that mark today.
How much has HiConversion raised?
Launched in 2014, HiConversion initially self-funded their operation before getting traction and raising their first growth round. To date, the company has raised $10M from institutional investors with their most recent round of $3.5M coming in 2017.
HiConversion’s team of 27 full-time employees is based in Boca Raton.