Company: Retention.com, Austin, TX
Company Description: Retention.com technology helps DTC eCommerce businesses grow by unlocking vast new, high-intent customer cohorts. We help clients identify abandoned-cart and browse-abandonment shoppers and convert them into loyal customers by leveraging existing marketing and automation flows, which can 10x abandonment revenue alone. We've grown revenue 21X since 2021, and continue to scale rapidly.
Nomination Category: Achievement Categories
Nomination Sub Category: Achievement in Sales or Revenue Generation
 Nomination Title: Retention.com's Huge Revenue Growth
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization's history and past performance (up to 200 words):
Total 190 words used.
Retention.com technology helps DTC eCommerce businesses grow by unlocking vast new, high-intent customer cohorts. We help clients identify abandoned-cart and browse-abandonment shoppers and convert them into loyal customers by leveraging existing marketing and automation flows, which can 10x abandonment revenue alone. We also help businesses refresh stale sending lists to reactivate dormant customers.
We started in 2019 with an idea and some code, and bootstrapped from nothing to $13MM ARR in only three years with only 6 FTEs: two founders, one engineer, one product person, one salesperson, and one CS person. And through ingenuity and sheer hustle, we signed customer after customer. The product sells itself and closes a critical gap in eCommerce business needs.
We are committed to building our brand in a whole new way. Through our innovative Work in Public podcast, we are building this unicorn right out in the open. In the last 1.5 months, we grew our team from 6 to 40 people with big help from our innovative Join Our Team podcast. Without a single dollar of VC funding, we are on the path to being the next big unicorn in SaaS.
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated organization's sales or revenue generation achievements since the beginning of 2021, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video:
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 191 words used.
There are three growth achievements that we are incredibly proud of: 1) Growing revenue exponentially with a tiny but mighty team, 2) Growing the team exponentially over a short time with some innovative thinking, and 3) Our incredible customer growth.
Achievement 1 - Revenue growth: Since the beginning of 2021, we have grown from $600K to $13MM ARR. The impressive part? We did it entirely with a team of 6 FTEs. Not salespeople, but 6 in total.
Achievement 2 - Team Growth: Within the past 1.5 months we have quickly grown the team from 6 to 40 FTEs, a massive increase in headcount, without an HR person. In order to do this, we had to think on our toes. With no HR team in place and no spare moments in the workday, how do two overworked co-founders achieve hyper-growth in headcount?
Achievement 3 - Customer Growth: Since January 1, 2021, we have grown from 100 to over 1,000 customers, among them some of the top brands in eCommerce. We are incredibly proud of our size and speed of growth, and how well we have retained our core customer base.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 247 words used.
Why are our achievements unique and significant?:
Revenue Growth: First, we found a niche with no direct competitors, and our technology is unique enough to create a strong barrier to entry for the competition. We do have quasi-competitors who either sell to much larger enterprises or work with different parts of the marketing funnel, but we stand alone in what we offer.
Second, 1 salesperson brought us from $600K to $13MM ARR with backup from only a few other people in product, CS, and engineering.
Third, we are not afraid to break things - we are agile and move fast. We can completely revamp our sales deck and subscription structure within a day in response to customer demand, while our competitors have taken months or a year to do so.
Team Growth: Our two overworked co-founders used the “hire one to hire ten” method to get us from 6 to 40 FTEs within 1.5 months. We didn’t hire HR, we hired a sales ace to bring on more salespeople.
Customer Growth: Our strong customer retention speaks for itself, and far outpaces the competition.
A critical innovation in this process was our Join Our Team Podcast. Instead of just putting out a passive job listing on Linkedin or hiring recruiters to spend hours finding talent, we started broadcasting why people should want to come work for our fast-growing company. Paired with our innovative Work in Public Podcast, we drew the best and most motivated prospects to us.
- Optional: Reference here any attachments of supporting materials throughout this nomination and explain how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 86 words used.
Our innovative podcasts that show how we do business differently and also helped us scale so quickly:
Work in Public: Journey to a Unicorn Data Company Podcast
Join Our Team Podcast
Ten Years In The Making Podcast
Our website: Retention.com Homepage
Case studies showing all of our positive customer experiences: Retention.com Case Studies
Video series showing how easy it is for customers to get up and running with our platform: Video Tutorial Playlist - How to Quickly Get Up And Running With Retention.com
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