You Can Hit $10M in ARR With No Expansion Revenue!?

If you’re in the financial services business, you understand the importance of compliance better than anyone. Your team needs to stay on top of the ever-changing regulations and ensure your current processes and systems meet compliance on a daily basis.

Luckily for investment managers, FundApps was designed to harness the power of community and technology to automate regulatory compliance. Their software monitors and reacts to regulatory change to provide automated monitoring services that alert users to issues via an intuitive web interface.

How much is FundApps doing in ARR?

FundApps is a pure-play SaaS business that charges its enterprise customers on an annual subscription basis. At this point in time, the average customer pays them around $100k annually, according to CEO Andrew White.

The business has grown to serve 45 total customers and is doing $10M in ARR at this point in time. FundApps has roughly doubled revenue year over year is up from approximately $5M in ARR twelve months ago.

Where is FundApps’ growth coming from?

More than 90% of FundApps’ growth has come from landing new customers, White shared. Despite cross selling to two of their existing customers, the company has doubled revenue year over year solely by adding new logos.

With the fund management space being so small, a lot of their deals have come from inbound channels such as word of mouth and content marketing. While the company doesn’t specifically measure CAC and payback period, White noted that the company usually receives payback within 3 months.

How much has FundApps raised?

FundApps has grown to scale solely by bootstrapping and has no intentions of raising capital anytime soon. The business is currently profitable and is focused on landing new deals before eventually shifting focus to driving expansion revenue.

FundApps’ team of 46 full-time employees is based in the UK and remote locations.