INCRMNTAL Revenue & Funding (2024)

INCRMNTAL generated approximately $70,000 per month in revenue as of November 2021, implying an annualized run rate of roughly $840,000. Sadra confirmed to Latka that the company was pre-revenue as recently as June 2021, meaning the entire customer base and revenue base was built in approximately five months.

INCRMNTAL had a few dozen paying customers as of November 2021, with Sadra describing the figure as in the range of 24 to 36. The company launched its open paid beta only a couple of months before the interview and was not offering a free tier at that time, despite having four pricing packages that nominally include a free entry point.

Pricing runs from $1,000 per month to $5,000 per month depending on company size and features selected, across four packages. Sadra said the majority of current customers were on enterprise-level packages, suggesting average revenue per customer was closer to the higher end of the range. The host calculated an implied average of approximately $2,000 per month per customer, which Sadra confirmed as roughly accurate. Named customers include eToro, Fastic, and Trainline.

INCRMNTAL operates as a pure SaaS business on a monthly subscription model. Sadra said the company deliberately avoided variable or usage-based pricing to eliminate any incentive for the platform to bias its own measurement results in favor of showing customers higher marketing value.

Gross margins were described by Sadra as very high, consistent with a software business with no media or variable cost component, though a specific gross margin percentage was not stated. Gross churn as of November 2021 was zero: no customer had canceled or downgraded since launch. Sadra said he had not yet identified leading churn indicators because no churn had occurred, and that the product results screen was being iterated every two weeks based on customer feedback gathered during the beta period.

Prior to building a product, the company recruited 10 design partners from three continents to shape the product roadmap. Sadra said the product vision never changed but that the product's capabilities grew beyond original expectations. The company had no dedicated sales team as of the interview date, with all growth coming from inbound interest and Sadra's personal network built over 20 years in the industry.

INCRMNTAL had 12 employees as of November 2021. Sadra described the team as almost entirely engineers, with himself as the only non-engineer. The company had no dedicated sales staff at the time of the interview, and Sadra indicated that a portion of the targeted $12 million Series A raise would be used to build out a US-based sales team.