Company: EngageSmart, Boston, MA
Company Description: EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions, simplifying customer and client engagement for over 100,000 customers across the country. EngageSmart offers single instance, multi-tenant, true SaaS vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive.
Nomination Category: Achievement Categories
Nomination Sub Category: Achievement in Finance
 Nomination Title: EngageSmart Achievement in Finance
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 3 words used.
EngageSmart’s growth post-IPO has been recognized by multiple outlets based entirely on financial data and objective corporate growth:
The Boston Business Journal
Deloitte Technology Fast 500
The company’s earnings releases can be found for 2022 and 2023 (so far) also demonstrate this growth.
- Briefly describe the nominated organization: history and past performance (up to 200 words):
Total 3 words used.
EngageSmart operates under the same principle with which it was founded: Every time someone says, “This shouldn’t be so hard,” they’re right. This polestar has guided the company in its growth from municipal payments solution InvoiceCloud in 2009 to the robust suite of comprehensive customer engagement and electronic payments solutions it is today. EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions, simplifying customer and client engagement for over 100,000 customers across the country. By advancing the quality of some of the most routine touchpoints in customer interactions, EngageSmart is able to save thousands of people their most valuable resource: time.
After more than a decade expanding and strengthening its offerings—including by adding solutions for nonprofits (DonorDrive) and mental health and wellness care (SimplePractice) to the roster—EngageSmart went public in 2021. In bringing its payments and engagement solutions to the national stage, EngageSmart doubled down on its commitment to bringing simple and convenient software to essential engagements between organizations and their customers, and to removing much of the friction and frustration that too often accompanies routine chores and activities.
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the nominated achievements since July 1 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 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 submitting written answers to the questions, provide them in the appropriate spaces below:
- Outline the organization's achievements since the beginning of last year that you wish to bring to the judges' attention (up to 250 words):
Total 3 words used.
Anyone who has taken a company public can tell you that it requires the entire c-suite and beyond working as a solid team working in sync—sometimes around the clock. For EngageSmart’s IPO, the backbone of that team was three women, all of whom are seasoned executives in their own right. EngageSmart CFO Cassandra Hudson has taken multiple companies public in her tenure in finance leadership. Chief People Officer Kristen Kenny, too, has been involved in four IPOs in previous roles. CMO Alison Durant had been with EngageSmart for less than a year before leading the marketing efforts involved in taking the company public.
But, of course, the IPO isn’t just the end of one long race—it’s the beginning of a marathon.
These three executives have worked in concert since EngageSmart’s IPO, and the results of their leadership are clear. From January to December 2022—EngageSmart’s first full year as a public company—EngageSmart’s total revenue grew 41% to $303.9 million compared to $216.3 million in 2021, and its total number of customers increased 24% (102,700 as of December 31, 2022, compared to 83,000 as of December 31, 2021).
And in the second quarter of this year alone, EngageSmart’s total revenue increased by 28% to $94.4 million (compared to $73.9 million in the second quarter of 2022), and the total number of customers has increased by 22% to 113.2 thousand as of June 30, 2023, (compared to 92.6 thousand as of June 30, 2022).
- 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 3 words used.
EngageSmart’s successful IPO, supported in large part by its female executives, have led to the company being recognized by the Boston Business Journal as one of the fastest-growing companies in Massachusetts. BBJ also ranked the company as the 22nd largest software developer in Massachusetts, and the 97th largest public company in Massachusetts. The company was listed as one of Deloitte’s Fast 500 in both 2021 and 2022.
From January to December 2022—EngageSmart’s first full year as a public company—EngageSmart’s EngageSmart’s total revenue grew 41% to $303.9 million compared to $216.3 million in 2021, its total number of customers increased 24% (102,700 as of December 31, 2022, compared to 83,000 as of December 31, 2021), and the total number of transactions the company processed increased 32% to 146.8 million compared to 111.4 million in 2021.
And in the second quarter of this year alone, EngageSmart’s total revenue increased by 28% to $94.4 million (compared to $73.9 million in the second quarter of 2022), total number of customers has increased by 22% to 113.2 thousand as of June 30, 2023, (compared to 92.6 thousand as of June 30, 2022), and the total number of transactions processed has increased 22% to 43.8 million (compared to 36.1 million in the second quarter of 2022).
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