As a leader within your company, once you have the right team in place, the next biggest challenge is getting everyone aligned on strategic goals. If your team is not on the same page, you will likely never reach your potential.
Workboard was designed as a results management platform to help operationalize objective and key results at scale. Their platform, combined with expert coaching, helps customers achieve bolder growth, surface deep dependencies, quickly identify risks, automate business reviews, and simplify the right work.
How much is Workboard doing in MRR?
Workboard is an enterprise SaaS company that charges Fortune 500 business and growth-stage startups on an annual basis. Today, the average customer pays them around $125k annually.
According to CEO Deidre Paknad, Workboard serves 50 total customers right now and is doing roughly $520k in MRR. The business has seen incredible growth over the last year and is up from $175k in MRR twelve months ago: a 3.5x increase in revenue.
What is Workboard’s churn?
In addition to their software subscriptions, Workboard also generates revenue through professional services and coaching attached to their on-boarding sequence. These add-ons have helped the company retain all of its customers to date.
Workboard’s efficacy in the land and expand model has also factored into their impressive growth. The company is currently exhibiting 140% net revenue retention annually and is using their professional services as a way to build awareness within their enterprises and add additional seats.
Prior to raising a Series A in November of 2017, Workboard was acquiring a $5 in new ARR for just $1. Today, this figure has scaled back as the company is landing a new $50k deal for around $17k, receiving payback instantly on a cash basis from annual, up-front payment and professional services.
How much has Workboard raised?
Launched in 2014, Workboard has raised $12M in total outside capital to date. Going forward, Paknad explained that the company would like to ramp up their new sales team prior to raising another round, targeting May 2019 for early conversations.
Workboard’s team of 55 full-time employees is based in the San Francisco bay area and India.