Carrot reports annual churn dropping from 16% to 10-15%
Aaron Carr · HR SaaS Hits $500k ARR Helping Teams Give Rewards to Employees · Aug 28, 2021 · at 12:14
Aaron Carr, founder of employee rewards SaaS Carrot, details the company's annual logo churn rates over the past two years.
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“Last year we calculated churn at about 16% on an annual basis. This year it's coming in below that. Like it's sort of in the 10 to 15 range.”
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More from Aaron Carr
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“And suddenly the industry like hit this massive uptick and we started getting more calls than we did pre COVID. So it's been interesting to say the least. Certainly some industries, you know, are on tighter budgets, but I'd say our HR tech and specifically emp…”
Carr: Carrot charges $3 per user, averaging ~$215 monthly per account
“We start at three dollars per head per month. On average, based on the account size, it's about, let's say around 202 130 dollars per account.”
Carr projects Carrot will reach $3.5M in total GMV in 2021
“So we've done about 1.5 today. We've got another two million that will come in by the end of the year.”
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“So the gift cards, it's very thin margin. It's three percent.”