He Buys Back His Agency, Now Sortable North of $3M in ARR with SaaS

As a publisher, creating and optimizing advertising revenue can seem nearly impossible. Between the seemingly infinite number of advertisers and increased complication associated with scale, you can often be left more frustrated than satisfied, when it’s all said and done.

Sortable was launched to assist publishers and helps them maximize their display advertising revenue. Their solution simplifies ad operations on a single platform, so publishers can earn more and grow through data-driven decisions.

How much is Sortable doing in ARR?

Sortable is a pure-play SaaS business that generates revenue on a CPM and revenue share basis. According to CEO Chris Reid, the company serves 300 publishers today, ranging from small entities to massive enterprises.

While specifics around ARPU were not disclosed, the average customer pays Sortable north of $10k annually today. Reid noted that the business is “much higher” than $3M in ARR at this point in time and is currently growing 30-40% year over year.

What is Sortables’ churn?

Churn is critical in any SaaS business and Sortable has done an impressive job of retaining its customers thus far. Reid explained that the company is exhibiting 95% logo retention annually today.

In terms of customer acquisition, Sortable places touch on each sale depending on the potential deal size. Overall, they receive payback on new customers within 6 months.

How much has Sortable raised?

Founded initially by Reid as an agency, Sortable was eventually acquired by a private equity company. After three years of operation within the new entity, Reid realized he did not like the direction the new ownership was taking the business and orchestrated a buyout in 2014.

In order to fund this move, Reid raised $1.4M in total funding and has since championed the transition to a SaaS model. Sortable is now a lean, profitable entity and looking to raise approximately $10M in the next 12 months to expand the scope of the product and drive additional market penetration.

Sortable’s team of 60 employees is based in Waterloo and Toronto.