In today’s marketplace, with social media and constant mobile engagement, every employee now has a chance to touch a customer at some point in the sales process. A CRM is no longer a tool built just for the sales and marketing teams: it’s a relationship platform your entire company can gain value from.
Nimble was developed to be this solution in the SMB space. Their product is more than a CRM: it blends social media, marketing, and sales all onto one platform for automatically building your contact list. Their software integrates seamlessly with Office 365, G Suite, and many other services, making prospecting smarter and faster.
How much is Nimble doing in MRR?
Nimble is a pure-play SaaS product that charges on a monthly basis. The company currently converts 5% of trial users from their website and 10% of trial users acquired through VARs on Microsoft and Google products to paid plans and has grown to 10,500 total paying customers as of March 2017.
On average, customers pay Nimble $30 per month, according to CEO Jon Ferrara, and the company was doing $225k in MRR at the time of his interview. They have exhibited healthy grow to this point, doubling year over year, and were aiming for $4M in ARR by the end of 2017.
What is Nimble’s churn?
Churn is always critical in any SaaS business, especially one playing the volatile SMB space. Nimble is currently churning 3% of their logos on a monthly basis and has not achieved net negative revenue churn yet.
Ferrara noted that the company assumes an LTV of approximately $600 today over 20 months.
How much had Nimble raised?
Nimble just closed a $9M round in March of 2017, bringing their total amount raised to $12M thus far. Ferrara explained that the capital will be allocated to scaling the channels working today as well as developing parts of the business that can help grow their top of the funnel acquisition.
The company’s team of 32 full-time employees is split between Santa Monica and Ukraine. Nimble has placed a strong focus on leveraging Microsoft and Google’s value added resellers to educate the market and distribute their product. They currently pay 20% kickbacks to resellers in this channel.