Ziwo Revenue, Valuation & Funding (2023)

Ziwo reported $10 million in annual recurring revenue as of April 2022, implying approximately $830,000 in monthly recurring revenue. A year earlier, in April 2021, the company was running at roughly $4.4 million to $4.5 million in ARR, meaning it more than doubled revenue over the twelve-month period.

Ziwo serves approximately 350 companies as of April 2022. The customer base spans SMBs, mid-market, and enterprise accounts. The largest single customer, a real estate company in the Middle East, pays roughly $600,000 per year and operates approximately 900 agents on one Ziwo platform for lead generation.

The standard list price is $109 per seat per month. Because of volume discounts and the need to match local spending power in markets such as India and less-developed African countries, the average contract value is approximately $80 per seat per month. The total number of agents across all 350 customer companies runs into several thousands, though de Gonfreville noted the figure varies and he did not have an exact count at the time of the interview.

Ziwo operates a dual revenue model. Customers pay a recurring SaaS subscription license on a per-seat basis and separately generate usage-based telecom revenue when they make calls, send SMS messages, or use WhatsApp through the platform. Telephone calls represent the largest revenue channel within the usage-based component.

At $80 average monthly revenue per seat and 350 customer companies each running multiple agents, the $10 million ARR figure implies a meaningfully higher per-company average contract value than the per-seat price alone would suggest, consistent with the $600,000 annual figure cited for the largest customer. Gross margin, churn, LTV, CAC, burn rate, and profitability were not discussed in the interview. De Gonfreville did note that the company was short of cash before the 2021 SAFE, suggesting it was not generating significant free cash flow at that time, but current profitability status was not confirmed.

Ziwo employed 50 full-time people as of April 2022. De Gonfreville stated that a batch of 10 additional hires was expected to join the following month, which would bring the team to approximately 60. The planned hiring was tied to the company opening new countries and accelerating growth as demand in emerging markets picks up. The breakdown of engineers versus other functions was not completed in the interview.