Chatbots give businesses the opportunity to add a personal touch to customer interactions and provide a better overall experience. And, when combined with automation and a little personal touch, they can significantly improve conversion rates.
JivoChat is a an all-in-one business messenger that teams use to talk to customers on live chat, phone, email, and social. Their software increases revenue by connecting businesses directly with clients, as fast as possible.
How much is JivoChat doing in ARR?
JivoChat is a pure-play SaaS business that charges its customers on a monthly recurring basis. While they offer both a free and professional version, the average customer pays them approximately $13 per month at this point in time.
According to CEO Timur Valishev, JivoChat now serves 31k paying customers and is doing north of $5M in ARR today. Valishev explained that the company has added $1M in ARR in the last twelve months and is up from $4M in ARR one year ago.
What is JivoChat’s churn?
Churn is a always struggle for companies at this price point, as small businesses are constantly closing shop. Right now, JivoChat is exhibiting 45% gross logo churn annually, with an average customer lifetime of two years.
With a popular free product – JivoChat is deployed on 230k websites worldwide and adding 20k new sign-ups each month – the company has been able to grow primarily through word of month. In terms of paid acquisition, Valishev has placed emphasis on targeting emerging markets such as Latin America and Southeast Asia, spending hundreds of thousands of dollars on Google AdWords and Facebook advertising in these locations. Overall, the company spends between $3 and $5 to land a new sign-up in these emerging markets.
How much has JivoChat raised?
Founded in January of 2012, JivoChat has grown to scale solely by bootstrapping. Going forward, Valishev has no interest in raising additional capital, but is open to the idea of a potential exit in the near future.
JivoChat’s team of 120 full-time employees is headquartered in Moscow and remotely distributed.
