SaaS Interviews with CEOs, Startups, Founders
1253 GetAccept Breaks 4000 Customers, Grew ARR 3x to $1.7m in ARR Last 12 Months
29 Dec 2018
Chapter 1: What is the background of Samir and GetAccept?
Be more aggressive. Just do things. Don't analyze so much. Coming from Samir, launched GetAccept in 2016. In the first 11 months grew to about 500 grand in ARR. Now fast forward to 2017 in June was doing about 670K in ARR. And now today doing over $1.7 million in ARR, serving over 4,700 customers, paying 30 bucks a month. Again, helping them sign contracts and get deals closed.
faster he's figured out something remarkable with churn under one percent logo churn per month uh that's on a gross basis it's just incredible cac is 220 so payback seven months again building this with this team of 26 based between sweden the us and the nordics this is the top entrepreneurs podcast where founders share how they started their companies and got filthy rich or crash and burn
Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines. We went from a couple of hundred thousand dollars to 2.7 million.
I had no money when I started the company.
It was $160 million, which is the size of many IPOs. We're a bit strapped. We have like 22,000 customers.
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Chapter 2: How did GetAccept achieve rapid revenue growth?
With over 5 million downloads in a very short amount of time, major outlets like Inc. are calling us the fastest growing business show on iTunes. I'm your host, Nathan Latka, and here's today's episode. Hello, everyone. My guest today is Samir Smite.
She is the CEO and founder of Get Accept and believes that great companies are built by passionate individuals who focus on execution and team building. He's a husband and father of two kids who's convinced that each day has 28 hours you can sleep when you die. Samir, are you ready to take us to the top?
Yeah, let's go, Nathan.
Nice to see you again. How many hours of sleep do you get every day?
Oh, no. If you asked me yesterday, I would say one because the kids were up playing with me. No, no. But normally I try to get at least five, but five to eight is good.
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Chapter 3: What strategies are used to maintain low customer churn?
I don't know how you guys do it. You know, I am a 10 hours a night kind of guy. I take a nap. It's a beautiful thing and I always feel great.
Yeah, but that's because you don't have kids. Maybe you have, but I don't know.
Listen, I don't have any kids that I know of, Samir, unless you have news you want to deliver to me.
All right. Nothing that you need to care about at least.
Yeah. All right. Very good. So tell us about get, except, um, you know, we had you on a year ago. Well, in November, 2016, when you were on last year shared, you were doing about 520 grand in annual revenue, 1100 customers. Where are you at today?
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Chapter 4: How does GetAccept manage customer acquisition costs?
So we're just about 1.7 million today in ARR. Uh, we have about 4,700 customers, uh, running on get except paying customers. We also have the trials and like the freebies that I call them running on GetAccept and continue using it. But that's the core data.
That's great. So 1.7 means you're doing about 140 grand a month right now. 4,700 customers paying on average about 30 bucks a month. Yeah, that's correct. Something like that. Okay, good. So that's significant growth, right? Since when you last came on the show, how have you driven most of that growth?
And actually, before you do that, tell people what GetAccept is in case they didn't hear the first interview.
Yeah, so GetAccept is the e-sign and document tracker
platform made for made for salespeople so we help sales sales reps close more deals by controlling documents that they send us by helping them to take the next step about automating the next step and yeah by helping them to get that signature on to that contract all right and so tell me how you went from again a year and a half ago doing 500 grand a year to now doing 1.7
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Chapter 5: What role do partnerships play in GetAccept's growth?
So much focus has been growing the sales team, both inbound and outbound sales team, growing marketing. And as I said to you last time, I think the virality of GetAccept is our best source of new customers. Every cent document is a marketplace for GetAccept. And as we can get our customers to use our tool in the right way with the full set of features, with video, with chat and so on,
Everyone else will want to use it who is a recipient. So that's where we get our customers.
That's great. And talk to me about churn. What's your churn today and how do you manage it?
It's still super low. We've been focusing on that quite a lot during the autumn here. It's still just below 1% on monthly.
And that's logo churn per month? Yeah, that's logo churn. Gross or net?
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Chapter 6: What are the future plans for GetAccept's product development?
Gross. Gross. Okay, very good. And is revenue basically the same revenue churn? Yeah. Okay. Exactly.
That's great.
This is really, I mean, I want to give you credit here, assuming that, you know, you're calculating it the right way. I'm sure you are. I mean, it's very rare. I see someone selling at a $30 a month price point to SMBs and their churn is so low. I mean, how have you kept it so low?
But churn has always been focused for us. So onboarding has been something that we spend a lot of time in, both like in the beginning, very personal onboarding, even hold hand on the two user deals just to get to know how they work and so on.
Chapter 7: How does Samir view the company's valuation and potential acquisition?
But on top of that, we also, of course, like develop the product and just helping them understand how they can use the product in order to close more deals. And I mean, if we help a sales rep close quota, they will not churn. And the good thing with our tool, it's so close to the money. And with that, I mean, it's the very end of the sales funnel.
So I think that has prevented churn a lot because they see really like, okay, this works. I close more right now. If you compare it to lead generation tool, they get a bunch of leads, but if they don't work with the leads in a good way, they will never close more anyway. So that's harder to like really defend.
Like, okay, it's, it's this helping me close more and that I get more leads, but yeah, you get the drill.
Is there any channel or partner that's driving you kind of a significant amount of customers? For example, I know you work closely with HubSpot.
Yeah. So, I mean, all the CRMs, HubSpot, PipeDrive, Microsoft, Dynamics, we have some local here in the Nordic region that are driving a lot of, a lot of leads to us. So partners has always been focused for us.
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Chapter 8: What personal insights does Samir share about entrepreneurship?
It took a while to get there and to get there like interest in us. But now when we have it, it drives a lot of leads.
Well, so tell me about the Microsoft deal, right? What do you get from it? What do they get from it? And how do you kick off that partnership?
Microsoft is, to be honest, a bad one to look into because that's one of our latest ones. So we are really not into that partnership so well. So to be honest, that's not a good one to talk about. Tell me a different one. So that, of course, drives engagement from their part.
What do they do, though? Will they email their user base about your tool, or is it more like they build your product into their interface somehow?
The discussion has been both. We have built the product into their interface through Chrome extensions, to be honest. And I mean, what we do together with them, as they see that we have similar customers that we can help them, we have done webinars, we have done co-newsletters together and sending out blog posts and so on. So it's a combination.
Of course, we want them to do more, but they are bigger than us. So we need to work a little bit extra for it, of course.
Yep. Yep. That's interesting. So do you pay them a kickback when they drive you channels or it's all kind of soft co-marketing?
No, it's soft call marketing today. We've been discussing that, especially with some of the other firms that are a little bit more local. For example, here in the Nordics, we've been discussing how to bundle your tool plus our tool to get a better product out to our users.
What's your CAC today? When you do pay to acquire customers, what are you paying typically? $220. You knew that right away? Yeah. Why? Is that top of your head all the time?
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