In the marketing world, you need to understand your audience and how your message is performing. One campaign could be a grand slam for one segment and a disaster for another. You need robust data to guide your decisions and optimize your conversions.
Versium was built to apply the power of data science and analytics to the abundance of data that marketing agencies and enterprises have to deal with today to improve their marketing ROI. Their platform is helping businesses figure out who is likely to buy, and who will never buy, so they can spend their sales or marketing budgets wisely.
How much is Versium doing in ARR?
Versium is a pure-play SaaS company that charges its customers on a monthly recurring subscription basis. They currently offer three plans – a self service plan priced at $1k per month, a mid-market offering between $5k and $7k monthly, and enterprise plans north of $20k each month – with the average customer paying approximately $10k per month.
According to CEO Chris Matty, the company is serving 500 total customers today and has hit $7M in ARR. Versium is growing 50-60% year over year and is up from $4M in ARR 12 months ago. In the near term, their goal is to hit $9M by the end of 2018.
What is Versium’s churn?
Churn is critical in any SaaS business, especially in the enterprise space. Matty explained that Versium is exhibiting less than 5% net revenue churn annually and are looking to drive additional revenue expansion based on the volume of records each customer uses.
Partnerships with agencies and consulting firms has been the key source of growth for Versium in the last 2 years, Matty noted. The company pays these channel partners between 30% and 50% of first-year revenue for closing these deals.
How much has Versium raised?
In total, Versium has raised $4.2M in outside capital with the latest round coming more than 2 years ago. Founded in 2012, the company has grown to scale in an extremely capital efficient manner and has been cash-flow positive for seven consecutive quarters.
Going forward, Matty and the entire Versium leadership team have large visions for long-term success in this competitive industry. Be sure to keep an eye on Versium as they look to secure approximately $25M in venture capital in exchange for 20% of their business.