UK Sales Intelligence vendor Cognism continues its rapid growth with $11.5 million in 2020 revenue. CEO James Isilay anticipates 2021 revenue of $20 million. ACV is around $14,000 with over 1,000 customers.
Cognism had an initial one-month hiccup due to COVID as customers in the recruitment and events space were hit hard, and the firm needed to transition to a WFH sales environment. However, the firm is back to growing “and hitting its targets every month.”
“COVID helped us get way more efficient. We didn’t need an office anymore, it slowed our headcount growth,” said Isilay.” We really have an engine now where we can just put more money into headcount in terms of SDRs or into marketing and then get more growth. So it’s really just a question of how much we want to put the foot down on the pedal.”Cognism CEO James Isilay
By the end of October, employment hit 179 with sixty headcount in Croatia and Macedonia.
When the firm acquired email signature marketing vendor Mailtastic back in May, they paid roughly $4 million for the company in a stock and cash deal.
Mailtastic’s net retention is around 110%, and the prospecting service is approaching 90%. However, there is a high percentage of returning customers post-churn. The company started in the SMB space and has moved up-market, so net retention should improve.
While the firm has a negative cash flow, it burns only $200K per month with six to seven million from the last raise sitting in the bank. The August funding round valued the firm at a bit under $100 million.
Cognism offers sales intelligence, B2B DaaS, and sales engagement services. It maintains over 55 million European company profiles.