The Ledger
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Struggling early retail clients drive SmartAssistant's customer churn
“And churn really clearly comes just from one segment, which is retail. Our early retail customers are in serious troubles at the moment and just simply can't pull that strategy off anymore to become their customer's trusted advisor and don't have the manpower …”
SmartAssistant's large enterprise contracts reach into the millions
“Our large customers, you know it goes up into the millions, so it's difficult.”
SmartAssistant customers pay $10k to $100k-plus per month
“So multiple 10 to a 100,000 and more per month.”
SmartAssistant revenue grows at triple-digit percentages year-over-year
“Growing at triple, triple digit percent year over year.”
Founders initiated SmartAssistant CEO replacement and convinced the board
“That was after the round. We went to our board and said, Hey guys we had to convince them actually”
SmartAssistant maintains single-digit annual gross churn
“Churn, we have a single figure churn rate in terms of annual churn.”
SmartAssistant's CAC payback period is approximately one year
“The payback time is at around one year at the moment.”
SmartAssistant achieves an 8x to 9x LTV to CAC ratio
“The ratio between customer acquisition cost lifetime value is at about eight, nine.”
SmartAssistant's annual revenue remains significantly below $100 million
“We want we are still significantly below the hundred million, unfortunately.”
Marcus Linder steps down as SmartAssistant CEO to become President
“Yeah, I'm now a president and CMO of the company, so we decided to bring a new CEO on board, like an external, very experienced CEO, because we see a huge opportunity, and we're growing like crazy, and at the same time, none of us, to be honest, had a proper j…”
SmartAssistant raised $3M from SAP Hybris founders
“So we raised about three million dollars from angel investors the original founders of SAP Hybris.”
SmartAssistant raised a $6M equity round from a UK VC
“So 1617, we got ABC on board. UK West based DC we did a six million dollar out.”