Ciecko: Cuseum Signs Multi-Year Contracts With Below-Average Churn
Brendan Ciecko · 1673 How He Sells $600/mo Software to Museums · Feb 22, 2020 · at 7:06
Brendan Ciecko, founder and CEO of Cuseum, explains why the vertical SaaS platform for cultural institutions experiences low customer churn despite long sales cycles.
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“These are larger con, you know you know, longer term contracts multi-year contracts. And once people have allocated budget to, you know, utilize one of the One of the products that we serve relatively low churn, lower than, you know, industry.”
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“Realistically for a lot of these spaces, if you're selling to, let's say nonprofits or higher ed or organizations that have been around for a hundred plus years, They want to see that the company has been around for two, three years before they're willing to e…”
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“So we raised about one and a half million dollars. We're backed by Techstars, we're backed by Foundry Group and Accomplice.”
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“Three or four pilot customers, and then over the summer of 2015 being at Techstars, we took that from, you know, the three, three to four up to 30, and have grown to over a 175 paying customers to date.”
Ciecko: Cuseum revenue is growing roughly 3x year-over-year
“So we've been doubling and tripling year over year. So it's going to depend on, you know, which year we've introduced a we've introduced a second product, which has definitely you know, aided our growth numbers. So we're doing maybe three X what we did last.”
Ciecko: Cuseum Account Expansion Outpaces Revenue Lost to Churn
“We've also found opportunities to move you know, move customers to other offerings rather than full churn when, you know, when, you know, budgets are reduced or needs change. But yeah, our growth has more than, you know, accommodated any of that profit loss th…”