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Bootstrapping a $100 Million ARR SaaS Company: The Netcore Story (Part 7)
Written by
Rajesh Jain
Rajesh Jain
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Bootstrapping a $100 Million ARR SaaS Company: The Netcore Story (Part 7)

Netcore Today

Netcore has evolved through the years. Here is how we have transformed over the past few years:

  • SMS and Email –> Full-stack cloud platform
  • Enterprise customers –> Digital first brands
  • India à Emerging markets –> Developed markets
  • Organic growth –> Large acquisitions
  • Everything in-house –> Building a constellation of companies (ecosystem)
  • CPaaS company –> Leader in Digital Experience Platform (DXP)

We have done all this keeping in mind our promise to our customers to help them drive exponential, forever profitable growth.

Here is an overview of Netcore 2022:

  • 750 Netcorians globally
  • 5,000+ brands across all key global markets
  • US$ ~100 million ARR
  • Multi product SaaS across Communication, Engagement and Retention
  • 75% email market share in India; and 50% in SE Asia
  • Sending 18 billion emails and 3 billion SMS each month
  • 100+ billion events and 15 billion notifications monthly
  • Profitable for the past 15 years
  • Zero external capital raised: and debt-free
  • Great Place to Work: 4 years in a row
  • Named Contender in Forrester Wave report of Email Marketing Service Providers, Q1 2022
  • Received highest ratings in Gartner Peer Insights’ Voice of the Customer 2021 reports as a Customers’ Choice for Email Marketing and Multichannel Marketing Hubs
  • Four acquisitions and control investments (Quinto, Boxx, Hansel and Unbxd)
  • Four investments (ANS Commerce, EasyRewardz, ProfitWheel and Comsense)

Even as we build on our strengths in email, SMS and martech, there are many new ideas and innovations that we continue to work on. The one I am most excited about is Email 2.0 to make email cool again and make it a habit (delete to delight). If we succeed in transitioning brands from Email 1.0 to Email 2.0, we will be helping reduce “adwaste” – the $200 billion being uselessly spent by brands in reacquisition and wrong acquisition. Email 2.0 thus is at the heart of what I think of as “profit-centric marketing.” Email 2.0 is a key pillar of the coming martech era (Martech 2.0), which will prioritise retention, growth and cross-sell in existing customers rather than the acquisition-churn-reacquisition cycle.

Little did I imagine when I started Netcore in 1997 that we would survive and thrive. There have many near-death experiences, and we have emerged stronger from every such storm. The failure rate in startups is 99.99%. Netcore has beaten the odds, grown strongly, and is ready for an even more promising and profitable future.

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