GrowSurf Revenue (2024)

GrowSurf generated an estimated $831.8K in annual revenue in 2024.

GrowSurf reported $26,000 in monthly recurring revenue as of May 2021, equivalent to an annualized run rate of approximately $312,000. One year prior, in May 2020, MRR stood at $12,000, representing an annualized figure of roughly $144,000. The company more than doubled revenue year over year, a growth rate of approximately 100 percent, without raising outside capital.

GrowSurf served 213 customers as of May 2021, paying an average of $120 per month, which Yun confirmed as the company's ARPU. The customer base spans both B2B and B2C tech companies, with B2B customers described as generating a higher return on investment given the low price point.

Yun noted that even at $120 per month, nearly every customer wants a phone call or personal contact, creating a support burden for the four-person team. He identified $700 in lifetime value as the minimum threshold at which dedicating a customer success manager or sales resource to an account would make economic sense, and said GrowSurf's current LTV falls below that level. The company is pricing against number of referral participants, with seat-based and feature-based upsell tiers also built into the pricing page.

GrowSurf operates a subscription SaaS model with auto-upgrade mechanics that allow customers to move to higher tiers as their referral participant counts grow. Monthly churn averaged 8 to 9 percent over the six months preceding the May 2021 interview, which Yun described as unsatisfactory. Annualizing that figure implies logo churn of roughly 96 to 108 percent per year on a gross basis.

Net dollar retention stood at approximately 90 percent as of May 2021, meaning expansion revenue from upgrading customers does not yet fully offset lost revenue from churned accounts. Yun said the goal is to push net retention above 100 percent. The company's minimum LTV threshold for a dedicated customer success or sales motion is $700, a level GrowSurf had not yet reached at the time of the interview.

Monthly burn rate was approximately $26,000 in May 2021, matching monthly revenue and leaving the company at roughly breakeven, or cash flow neutral. The majority of expenses go toward headcount. Profitability beyond breakeven was not discussed. Gross margin, CAC, LTV, and payback period were not stated in the interview.

GrowSurf had four team members as of May 2021: three full time and one part time. The full-time staff included Kevin Yun, a technical support specialist, and Chris Tweeten, a newly hired CMO. Derek, the co-founder, worked part time. The company was also actively hiring a customer success manager at the time of the interview.