AUSTIN, Texas, Jan. 25, 2017 /PRNewswire/ -- eRelevance Corporation, the leading tech-powered marketing automation service for small- to medium-size businesses (SMBs), today announced it ended 2016—its second full year of selling—with 444 percent year-over-year revenue growth, approaching nearly $4M in annual recurring revenue (ARR).
At the pace the business is growing, the company expects to exceed $500K in monthly recurring revenue (MRR) in the first half of 2017 and $1M in MRR in the second half of the year.
"Our financial results and strong customer acquisition and retention rates reflect the continued traction we're experiencing across all growth drivers," said eRelevance CEO and Co-founder Bob Fabbio. "We have created an innovative solution to a multi-billion-dollar industry that is clearly ripe for disruption."
In 2016, the company also:
- Closed a Series A round of funding totaling $4.5M (Prior to this funding, eRelevance raised $4.1M in seed capital, bringing its total capital raised to $8.6M since inception in July 2013.)
- Achieved 97 percent customer retention per month
- Generated an estimated $12.7M of repeat business for its SMB customers
- Earned a Net Promoter Score® (NPS) of 51, ranking eRelevance above the 75th percentile of all business services companies in North America
- Launched an innovative and exclusive partnership program that is changing the competitive landscape for its device manufacturer partners
- Received the Red Herring Top 100 North America and Top 100 Global awards
- Increased headcount by 240 percent
About eRelevance Corporation
eRelevance's marketing automation service leverages marketing experts and sophisticated proprietary technology to help SMBs generate more repeat business from customers. Its expert marketing, done by marketing experts, is faster, more effective and priced right compared to alternatives. On average, eRelevance generates 16x the ROI potential per month for its customers.
PRLog ID: www.prlog.org/12615694
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SOURCE eRelevance Corp.