**Excited to share we’ve hit $10M ARR + Profitable ($838,688.32 in May)!**
To get here in just 3 years (in spite of market conditions) with only a seed/$8.4M raised speaks volumes about the great team we have here and what we’ve been working to build.
One of the best parts (practically-speaking) of having a business model that scales with our customers is that we live (or die) by the success of our customers.
With this in mind, hitting this milestone for Skio isn’t just a celebration, but also validation that having an engineering/product-first DNA is a winning strategy (our product speaks for itself 😉).
Some people have asked why we’re announcing this milestone and I thought this post would be a great opportunity to recap our DNA (and also explain) to our customers (as well as future ones) why this benefits them.
Our DNA:
* We’re engineering-first. All engineering is in-house (vs. contracted out) and we only recruit the best engineers. This results in a much better product which helps our customers grow faster.
* World-class support. I personally find it extremely irritating getting support from someone who doesn’t understand you so we made sure great customer support was a priority from day 1.
* We let our product do the talking. Spending our dollars on product over marketing/awareness definitely has some tradeoffs. The con is that there’s potential customers who don’t know we exist (we’re fixing this), but the pro is we’re almost always the best partner for anyone evaluating us vs. other options.
* Customer-first instead of growth-first. This requires not losing company control to investors who chase growth at all costs. Given we’re Shopify-first subscription software, we think it makes the most sense to stay capital efficient so it is natural staying laser-focused on being customer-first. This is different from raising as much money as possible (and subsequently being forced by investors to spend money chasing any possible growth). This growth at all costs mentality definitely works for certain businesses, but doesn’t make as much sense here.
Practical reasons for announcing $10M ARR + Profitable:
* We’re here to stay. Typically, total funding is used to gauge traction/ability to stay in business since businesses don’t want to reveal their revenue numbers. While we may have less money raised, our traction to money raised ratio is exceptional so we’re ok sharing our numbers if it means reassuring customers that we’re stable.
* Validation that our DNA works/matters. We wouldn’t have hit this milestone if being engineering/product-first didn’t work. Our existing customers probably already understand this, but we hope any potential customers seeing this post will be more inclined to partner after reading this.
Thank you so much to our amazing customers/team/partners/investors for your hard work & support in helping us reach this milestone.
Can’t wait to see where we are in 3 years!
Director of Partnerships and Business Development @ Relo - Repeat Revenue for DTC brands
3moRelo x Skio FTW