InspectionXpert reduced its annual revenue churn to under 8%
Jeff Cope · 1577 Why He Sold His $3.1m ARR Company For 3x ARR 2 Months Ago · Nov 18, 2019 · at 12:31
Jeff Cope, founder of InspectionXpert, discusses customer retention metrics and improvements after investing in customer onboarding and customer success.
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“Our renewal rate was 90%. Our turn was 10%. That's gone down. Now we're under eight percent on our turn.”
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More from Jeff Cope
85% of InspectionXpert's business is generated through inbound marketing
“I would say something like 85% of our business comes from inbound.”
Cope left his day job when InspectionXpert reached $70,000 annual revenue
“In 2008, I quit my day job naively thinking that, you know, our revenue when I quit was a little over 70,000 dollars for the year.”
InspectionXpert reached a $3.1 million annual recurring revenue run rate
“So we're 3.1 million revenue annual recurring revenue run rate right now.”
InspectionXpert is projected to reach $5 million ARR next year
“But it looks like we're gonna, we're expecting to do five, five million next year.”
InspectionXpert saw 50-75% annual growth before a 2014 SaaS transition slump
“So, yeah, for the first seven years, we were seeing 50 to 75% growth year over year. In 2014, we made the switch from a perpetual license software model to you know, to the full SAS play and annual recurring revenue, and we hit a trough.”