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SaaS Interviews with CEOs, Startups, Founders

1518 Bynder Hits $48m ARR, Another Acquisition On The Way?

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 20 September 2019

⏱️ 16 minutes

🧾️ Download transcript

Summary

Chris Hall, the CEO of Bynder has grown his company to over 350 employees with seven international offices in just 4 years. He first conceptualized Bynder in 2010, while working to establish a web development company, Label A (still in business). In 2012, the Bynder was incorporated and by early 2013 had a license for business.

Chris is an entrepreneur at heart, has successfully setup and scaled multiple SaaS companies, Bynder being most notable to date. He is a mentor and coach for young professionals interested in tech and entrepreneurship.

Transcript

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0:00.0

Binder rolled out of his agency back in 2013. Big MNA happened recently. They've just, you know,

0:05.9

they did about 19 million bucks in terms of run rate and early of 2018. Then did the acquisition.

0:11.9

You know, now they're serving 1,600 customers. $30,000 ACV is a healthy average. So call it,

0:16.7

you know, 4 million ish right now per month in revenue. The economics look good. 93% revenue

0:21.8

retention annually, 140% net revenue retention annually. That 93% was obviously gross. You know,

0:28.7

trending towards a 12-month payback period, team of 350 folks between San Mateo, Boston, London,

0:34.1

Spain, and remote locations as they continue going after the damn space.

0:39.2

Hello, everyone, my guest today is Chris Hall. He's the CEO of Binder and has grown the company

0:43.8

to over 350 employees with seven international offices in just four years. All right, Chris,

0:48.6

are you ready to take us to the top? Yeah, go for it. All right. Tell us about the company.

0:52.4

What do you guys do? And are you a pure play SaaS model or not?

0:55.4

Yeah, we're a pure play born in the cloud solution.

0:59.6

And it's basically the core of the application is the dam, the digital asset management,

1:04.7

which is basically a repository for all your digital content.

1:09.0

And so, you know, as you're working with customers here,

1:11.7

give us kind of a quick glimpse into what they're paying on average per month for this?

1:16.6

Well, we have two sets of customers.

1:18.6

We have our sort of SMB enterprise,

1:21.1

SMB enterprise,

1:22.3

and that's around close to $30k U.S. dollars a year. And then there's the larger customers that are

1:31.4

upwards from 100 up to. We're getting close to the million mark. Yeah. Is it fair to say,

1:38.8

though, you probably have power laws in your customer base and the average is probably closer

...

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