SaaS Interviews with CEOs, Startups, Founders
736: How Mobile Analytics Company Went $0 to $4 Million in 12 Months
30 Jul 2017
Chapter 1: What is the main topic discussed in this episode?
He's had a ton of experience working in tech companies, decided in 2013 to take the plunge himself and go all in with his two co-founders.
Chapter 2: What is CleverTap and how does it work?
They've since raised a total of $9.6 million, $1.68 million in Series A. They launched revenue in 2016, broke $1.5 million.
million in total sales now in this month which would be june well uh may right in may 2017 broke 400 000 bucks in mr at about a five million dollar arr right he wants to double by the end of the year so we'll see if he does it december 2017 he wants to aim for 800 grand in monthly recurring revenue still early on the economics like gross churn cac they're just figuring that out with their team of 45 based between california new york and india again making it easier for mobile applications to understand what the heck users are doing in their apps
This is episode 736. Coming up tomorrow morning, I talk with Patrick Bosworth. 3,000 hotels are paying him to optimize their pricing and investors have put in $50 million. Will they win?
Chapter 3: How much do CleverTap's customers typically pay?
But first, here's today's episode. This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have. I'm now at $20,000 per talk. Five and six million.
Chapter 4: What funding has CleverTap secured and from whom?
He is hell-bent on global domination.
Chapter 5: What is the customer acquisition strategy for CleverTap?
We just broke our 100,000-unit soul mark. And I'm your host, Nathan Latka. Hello, everybody. My guest today is Sunil Thomas. He's the co-founder and CEO at a company called CleverTap. Sunil, are you ready to take us to the top? Yeah, I am. Okay, good.
Chapter 6: How does CleverTap differentiate itself from competitors?
Good. So tell us what CleverTap does and how do you make money?
So CleverTap combines people-based analytics with user engagement. So you put a little bit of CleverTap into your mobile apps, into your websites, et cetera, and you can get to understand what your users do. And you can use all that data to actually engage with them, send them messages, push notifications, email, all of this.
Chapter 7: What is the significance of user engagement in mobile apps?
We do it at real time and we do it at massively large scale. And we make money based on, you know, the number of, like, we call it events, but the amount of data that people use on our, store on our platforms and use to license their users.
Is this like a mix panel for mobile apps exclusively?
Yes, this is actually like a mixed panel plus app boy kind of combination for mobile apps and websites also, though.
Got it. Okay, good. So I think this is really simple to understand, right? Somebody, I'm making this up, BB&T has you guys installed on their BB&T app on the phone.
Chapter 8: What growth metrics has CleverTap achieved recently?
They can see where I'm clicking, how I'm clicking, how long I'm spending to understand how to make the mobile app experience a better one. Is that accurate?
Absolutely. And then they can, you know, trigger based on your actions. They can like BB app can trigger notifications to you. Like, Hey, you left something in your cart, you know, or you, uh, you know, this is a great feature that we've just launched. Why don't you go try it out? That kind of stuff.
And before we go back to Neil and capture more of kind of your launch story and how you got into this, you know, the good stuff, help us understand what's the average customer paying you per month.
So our average customer or average contract value for the top 15, 20 accounts is north of $150,000.
But don't, obviously that's going to be skewed because it's your top cohort. If you just take an average across your entire customer base, what would that be?
About $2,500 to $3,000 a month.
Okay. Okay, sorry. So about $2,000 a month, and that's all based on event data, right? That's all based on event data. Got it. And then just to be clear, sorry, because I cut you off. I want to get the average first. Your top cohort, you said that will be in the $20,000 to $50,000 per month?
It is the $20,000 to $50,000. It's about, yeah, $10,000 to $20,000 per month.
And the reason those folks are paying so much is they're just processing way, way more events. They're way more popular companies.
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