Closem Revenue (2024)

Closem generated approximately $30,000 in monthly recurring revenue as of September 2022, based on roughly 300 paying customers at $99 per month. That figure represents 227% growth over the prior year, when the company was doing approximately $10,000 per month in MRR. Annualized, the September 2022 run rate equates to roughly $360,000 per year, a figure the host stated on air and Miles confirmed as about right.

Closem had approximately 300 paying customers as of September 2022, each paying $99 per month. The host calculated this as roughly $30,000 in monthly recurring revenue and Miles confirmed the figure as about right.

The company previously ran a lifetime deal on AppSumo and counted more than 1,200 total users including those buyers, but Miles acknowledged that many AppSumo purchasers did not activate the product and that the company no longer offers lifetime deals. The 300 figure reflects active monthly paying subscribers. Miles noted that some AppSumo users do make in-app purchases, such as postal mail sends, generating additional revenue beyond the one-time deal price.

Closem targets small businesses, solopreneurs, and service providers. Miles noted that a portion of inbound customers come from HubSpot, citing complexity and cost as the reasons those users switch.

Closem operates a flat-rate subscription model at $99 per month per customer, with email included as unlimited and free within the plan. The company previously charged separately for SMS but moved away from that model, instead having customers set up their own SMS accounts directly. Revenue beyond the base subscription comes from margins on physical postal mail sent through the platform, with a first-class postcard priced at 90 cents per send.

Additional monetization comes from standalone and integrated add-on products. Linkum, a short-link and QR code generator, is sold as a separate product and is also embedded inside Closem. A calendar scheduling tool called Book Them was in development at the time of the interview. Miles described the forward model as offering a suite of extras on top of the core platform.

Profitability was not discussed in the interview. The company is bootstrapped, which implies the team operates within its revenue base, but no specific figures on margins, burn rate, or runway were disclosed. Gross margin, churn, LTV, CAC, and net revenue retention were not discussed. The average lifespan of a marketing email, which Miles cited as 17 seconds, was offered as context for why physical mail is a differentiating channel, not as a company operating metric.

Closem had five full-time equivalent employees as of September 2022, which Miles described as four to five and a half people. Two of those employees are developers who handle all engineering work. Neither Miles nor his co-founder Laura Betterly is technical. The company has used outsourced engineering support when needed but relies primarily on its two in-house developers. The remaining team members were not individually described by role in the interview.