As a marketer, nothing is more important than understanding your target audience better. The more intelligence you have around your potential customers, the better you can cater your messaging and offers, thus increasing conversions.
Wayin is a platform built to help non-technical marketers at the world’s top brands create interactive experiences that collect valuable customer data. Their software collects actionable data, creates meaningful connections, and optimizes communications, all while integrating with the leading digital experience platforms.
How much is Wayin doing in ARR?
Wayin is a pure-play SaaS business that charges its customers on an annual subscription basis. The company provides various mechanisms for engagement and charges its average customer around $65k annually today.
According to CEO Richard Jones, the company is serving 150 enterprise customers right now and is doing $11.5 in ARR. The business grew revenue 62% year over year last year and is up from approximately $600k in MRR twelve months ago. Jones noted that the growth has come from a combination of new deals and expansion within their existing base.
What is Wayin’s churn?
While Jones explained that churn within their SMB cohorts has been traditionally high, their retention and expansion has been superb among enterprise clients. Overall, Wayin is exhibiting 125% net revenue retention annually within their enterprise cohort.
On any given month, Jones said the company spends around 2% of their revenue on marketing efforts. Today, Wayin is willing to spend upwards of $65k to land a new deal, receiving payback in about 12 months.
How much has Wayin raised?
Launched in 2011, Wayin completed a merger with EngageSciences in 2016. In total, the company has raised more than $50M in venture capital and most recently closed a $2.5M bridge round in 2018.
Wayin’s team of 72 full-time employees is situated throughout Europe, the U.S., and Asia.