How Mintent Crossed $1M in ARR in British Columbia

In the marketing world, superb content is an excellent tool for driving organic growth in any business’ long-term strategy. If you can find high-interest topics to provide quality information around, audiences will naturally flock to your website, channel, or blog.

Mintent functions as a content marketing platform that helps teams plan, produce, distribute, and measure results. Their software helps businesses optimize their entire content marketing process from start to finish with a powerful suite of tools and services.

How much is Mintent doing in ARR?

Mintent is pure-play SaaS company that charges small and medium-sized enterprises on an annual basis. The company prices on a per user, per seat model, with the average user generating $40 in revenue per month and the average logo paying them $15k annually.

According to CEO Matt Dion, Mintent is serving 100 total paying customers and doing $1M in ARR at this point in time. The company has been flat over the last 12 months and has recently transitioned to a freemium model to driving future growth.

What is Mintent’s churn?

Founded in 2012, Mintent hired Dion as CEO at the end of 2016 with just one month of runway remaining. Upon taking over, Dion immediately began focusing on reducing the company’s poor retention marks and ultimately reduced net revenue churn by 80% over two years. By focusing on product quality, uptime, and features, Dion was able to reduce net revenue churn from 57% annually in 2016, to close to 10% today.

Due to increases in customers acquisition cost, Mintent made the decision to move downstream and create a freemium product. Today, the company receives payback within 12 months when landing a new customer.

How much has Mintent raised?

Immediately after joining the company, Dion was tasked with raising additional capital to keep Mintent afloat. Through his network of Canadian angel investors, he was able to secure $1.3M in funding in 2016. Overall, Mintent has raised $3.8M in outside funding, all coming in the form of equity.

Mintent’s team of nine full-time employees is based in Vancouver and is in the process of merging with another marketing automation startup.