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SaaS Interviews with CEOs, Startups, Founders

1495 Mom of Newborn Passes $1m Run Rate Helping Businesses Text Customers

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 28 August 2019

⏱️ 14 minutes

🧾️ Download transcript

Summary

Adi is co-founder & CEO of IMpower Solutions, which provides businesses with tools to text with their customers. Adi started IMpower in 2011, after realizing how much consumers hate calling businesses and businesses have low response rates when they call customers. Texting is a win-win solution for both sides.

Transcript

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0:00.0

founded in Power Solutions, 2011 today, between a million and two million bucks in terms of

0:04.9

run rate. They've 10x year over year. They raised three million bucks about six years ago,

0:08.9

hoping it cash flow profitability here in the next couple months. They're serving about

0:11.5

2,000 paying customers, 36% gross revenue churn per year, 38% expansion. So added together

0:18.5

about 102% net revenue retention each year. They've got about

0:22.1

12 people all over remote locations, again, building, paying about $6,000 to acquire

0:27.8

customer payback periods anywhere between two and eight months. Hello, everyone. My guest today is

0:33.8

Adi Bitton. She is the co-founder and CEO of Empower Solutions, which provides businesses

0:38.7

with tools to text with their customers. Adi, are you ready to take us to the top? Oh, yeah.

0:43.7

All right. Tell us about the company. And is this a pure play SaaS business or not?

0:48.1

It started as a pure place SaaS. We've kind of done some things that aren't pure SaaS to push us to a place where we can do pure

0:55.2

SaaS. So we can talk about that. It's kind of interesting.

0:57.6

And give us the tease us a little bit. If you look at your total revenue over the past 12 months,

1:01.1

how much of it is pure SaaS percentage wise?

1:04.2

Of like 75%. So a fair amount. It's mostly SaaS. Yeah.

1:08.3

All right. Let's back up. Tell us about the company. What's it do?

1:17.9

So our thesis when we started seven years ago, actually exactly today, was that.

1:19.5

By the way, happy anniversary.

1:20.7

Yeah, thank you.

1:21.1

Thank you.

1:23.5

It's quite a milestone surviving, you know, past three years. So seven years is something we're pretty proud of. So the thesis has always been people are not going to want to call businesses. They're going to want to text businesses. And over time, businesses have caught up to that idea. But how do you give people and businesses tools to do that in an effective way, scalable way? So what we do is exactly that. We take either existing lines or give businesses new phone numbers and give them the tools

1:50.5

they need so that they can text with customers, but not on their cell phones, you know,

...

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