Can Proggio, $10k in MRR, Win in Project Management Space?

The success of a team is directly correlated to their ability to freely collaborate. Whether you’re gearing up for a new product launch or looking to optimize your operations, your business needs transparency and organization to fuel long-term growth.

Proggio was developed to bring this level of collaboration to project management once and for all. Their software helps teams run short-term delivery projects while also planning and tracking long-term, highly integrated projects.

How much is Proggio doing in MRR?

Proggio is a pure-play SaaS business that charges its clients on a per seat basis each month. Each seat costs approximately $10-12 monthly, with the average enterprise paying approximately $300 per month.

According to CEO Yaniv Shor, Proggio has landed 100 total customers and is doing $10k in MRR today. The company, launched in 2016, spent all of 2017 in the beta stage and just hit production three months ago.

What is Proggio’s churn?

As a new company, Proggio has yet to churn any customers at this point in time. Shor noted that most clients have committed to using their product for one year and have signed annual contracts.

In terms of customer acquisition, the company is currently paying around $50 per seat to land a new customer. As the company continues to mature, Shor anticipates that this figure will decrease.

How much has Proggio raised?

Proggio has raised $2M in venture capital to date with the funding coming from both U.S. and Israeli investors. The company has grown to ten full-time employees in Israel.

In a crowded task and project management space, does Proggio stand out enough to win? Only time will tell, but, with an impressive product launch, this company certainly has a chance to make some noise in 2019.