This is Upsales
Upsales is a Swedish Software-as-a-Service company with 600 customers in ten countries. From industry leaders with global sales organisations to start-ups, thousands of people use Upsales everyday to drive an effective sales process, generate more leads, and manage existing client relationships.
In an increasingly digitalised world, the demands on sales organizations are high. In the same way as before, we want to revolutionise the work for these companies by making it easier. We want to make it easy for our customers to grow.
We do this by providing a CRM solution that helps companies generate more leads, drive effective sales processes, and seize upselling opportunities from existing clients.
Our vision is “Enabling sales & marketing greatness in B2B organisations”. Upsales is and continues to be a critical component for companies with high growth ambitions. The fastest-growing companies, don't have the time to spend months on implementing CRM and Marketing software. This is the main reason why our goal is to deliver a product that creates results fast.
Upsales is a team of 50 full-time employees along with an additional 20 contracted specialists around the world who help us with product development and marketing. The combination of our own employees with free-lance specialists enables us to accelerate our product development and helps us build an organization at a vastly higher rate than with a traditional set-up. Our ambition is to build a fast-growing and efficient company and we strive to be the best workplace possible for driven, and ambitious people. I am grateful for the blood, sweat, and tears my team puts in every day in order to help build this great company.
The Product and Our Customers
When Upsales launched in 2003 it was a CRM-software with a heavy focus on simplifying the sales process. However, throughout the years, it has become clear that our customers require three things; CRM, Marketing Automation, and Business Intelligence. Our strategy is to broaden our product in order to increase the average revenue per customer and to penetrate new market segments. Historically, we have succeeded in doing so while nearly doubling our average revenue per customer over the past five years. Another crucial aspect of our growth strategy is to deliver an exceptional customer experience. We achieve this by continuously improving our platform and user experience but also by coaching and guiding our customers to use Upsales in a more profitable way. This results in lower churn, increased cross-selling, and most importantly, happier customers.
Growth Strategy and Business Model
Software-as-a-Service (SaaS) is a scalable business model with a high gross margin. Annual recurring revenue (ARR) accounts for more than 90% of our total revenue and our strategy is to continue to have a high share of pure SaaS revenue. We believe that the best way to build value in the long-term is to focus on our ARR. We will, therefore, continue to invest aggressively in product development, marketing, and growing our sales team. We have proven historically that we can grow profitably with positive cash flow - this is also our future ambition, but, if we have to choose between optimizing short-term margins and increasing our ARR, we will always choose the latter. In addition to our license-based revenue, we also offer consulting services where primarily our larger accounts require project management, guidance, and technical configurations such as integrations and other customizations. We believe that these services help us deliver more value to our customers. We do, however, avoid building client-specific solutions and instead focus on increasing the flexibility of the platform in order to add more standardized integrations. This results in increased flexibility for our users in a faster and more efficient way than that of our competitors.
Stockholm, May 2020
Daniel Wikberg, CEO & Founder