Technology

PeakSpan Capital and Ibbaka Unveil 2nd Annual Net Revenue Retention Survey Results

Published

5 hours ago

October 30, 2024

SAN MATEO, Calif. and NEW YORK and VANCOUVER, BC, Oct. 30, 2024 /PRNewswire-PRWeb/ — PeakSpan Capital, a leading growth equity firm with $1.5 billion in assets under management (“AUM”) investing exclusively in high-growth business-to-business (or “B2B”) software companies, and Ibbaka Performance Inc. (“Ibbaka”), a provider of pricing optimization and value management solutions, today announced the release of their 2nd Annual Net Revenue Retention (NDR) Survey Results.

For any B2B SaaS company, understanding these trends is essential to driving sustainable growth and staying competitive. – Karen Chiang, Co-founder and COO, Ibbaka

This comprehensive report offers valuable insights for SaaS professionals seeking to improve customer retention and reduce churn in an increasingly competitive landscape. This year’s findings underscore significant shifts in NRR performance across various SaaS verticals, driven by the integration of AI technologies, based on the responses from 503 SaaS companies.

Key Findings:

Emerging NRR Patterns: The survey identifies a growing cluster of companies exhibiting high churn yet achieving strong NRR through substantial expansion revenue. This trend is attributed to the disruptive nature of generative AI.AI-Driven Growth: Companies leveraging AI-related pricing metrics reported an average NRR of 118%, significantly outperforming the overall average. The General AI vertical leads with an impressive NRR of 130.6%.Organizational Design Impact: Dedicated teams focused on revenue expansion are outperforming other organizational models, achieving an average NRR of nearly 125%.Sector Performance: General AI, Healthcare, and Energy sectors are leading in NRR performance, while Communication, MarTech, and CRM sectors are struggling amid post-COVID adjustments and AI-driven market shifts.

Vertical-Specific Insights:

AI and Machine Learning: Companies in this sector maintain their position as top performers, with 35% achieving NDR rates above 130%Data Analytics and Management: Close behind AI, with strong growth potential and high retention ratesHR Tech and EdTech: While still facing challenges, these sectors show signs of improvement, with several companies implementing successful retention strategies

Sanket Merchant, Partner at PeakSpan Capital, noted: “We couldn’t be more thrilled to partner with the Ibbaka team on our 2nd Annual NRR Survey! The preceding year has been challenging for most scale-ups who sought to drive the best absolute view of efficient growth. Like most, we believe retention is one of THE most powerful measures of utility, and expanding customer relationships is a powerful lever to drive (efficient) growth and reinforce the ongoing value being delivered. We’re excited to see how these insights help software or SaaS businesses build a robust relative view of performance against their relevant peer set and identify best practices to maximize performance. The wealth of insights from this year’s survey will help scale-ups better understand what more can be done to drive best-in-class performance and sustainable growth acceleration, which will undoubtedly be a boon for our scale-up community and well beyond.”

Karen Chiang, Co-founder and COO of Ibbaka, added, “We are thrilled to unveil the results of the 2nd Annual Net Revenue Retention Survey, which provides crucial insights for B2B SaaS companies navigating today’s dynamic market. For any B2B SaaS company, understanding these trends is essential to driving sustainable growth and staying competitive. The findings highlight emerging patterns in net revenue retention and offer strategic recommendations that can empower companies to optimize their pricing models and enhance customer value. We believe this report will be an invaluable resource for SaaS professionals aiming to refine their retention strategies and achieve long-term success.”

Strategic Recommendations:

Embrace Expansion Revenue: Companies should prioritize expansion revenue to counterbalance increased churn during this transitional period.Adopt Hybrid Pricing Models: Transition to hybrid metrics or outcome-based pricing to optimize value capture from AI-driven solutions.Leverage Generative AI for Growth: Explore new growth motions, such as AI-led growth, to complement existing strategies and maximize potential expansion revenue (PER).Design for Flexibility: Offer diverse configurations and packaging options to enhance customer value and retention.Monitor Industry Shifts: Stay informed about industry changes, particularly in packaging and pricing strategies influenced by major players like Salesforce and Adobe.

Accessing the Full Report

The complete 2nd Annual Net Dollar Retention Survey Results report is now available on the Ibbaka website. Access the report here. SaaS professionals are encouraged to leverage these insights to refine retention strategies and drive long-term success in their respective markets.

About PeakSpan Capital

Based in New York City and Silicon Valley, PeakSpan Capital is a $1.5 billion AUM growth equity firm with a singular mission to be the partner of choice for growth-stage entrepreneurial teams building amazing business software companies. PeakSpan combines deep domain expertise within a select number of themes with an active partnering approach to help entrepreneurs drive excellent risk-adjusted growth and value creation. PeakSpan Capital prides itself on a collaborative approach to working with entrepreneurs and other stakeholders.

To learn more about PeakSpan Capital and its portfolio, please visit www.peakspancapital.com

About Ibbaka

Ibbaka empowers SaaS businesses to optimize their packaging and pricing strategies through its cutting-edge Valio platform and expert consulting services. The Valio platform enables companies to create sophisticated value models that quantify the economic benefits their solutions provide, considering various value drivers and use cases. By leveraging AI and data-driven insights, Ibbaka helps develop pricing models that align with the value delivered, including usage-based, tiered, or hybrid structures tailored to maximize revenue while remaining competitive. Additionally, Ibbaka assists in designing optimal product packages that resonate with different customer segments, facilitating effective communication of the value proposition to prospects and customers.

To learn more about Ibbaka, please visit www.ibbaka.com

Media Contact
Liam Hannaford, Ibbaka, 1 7788981483, lhannaford@ibbaka.com, www.ibbaka.com
Sanket Merchant, PeakSpan Capital, 1 650-337-6000, sanket@peakspancapital.com, www.peakspancapital.com

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SOURCE Ibbaka

Technology

Charles IT Launches Business-Focused Podcast, One Pour Problems, Tackling Real Business Challenges Over a Drink

Published

4 mins ago

October 30, 2024

Charles IT, known for providing cutting-edge IT solutions and compliance expertise, is excited to announce the launch of its brand-new podcast, One Pour Problems. Unlike their traditional tech-focused content, this podcast shifts the spotlight to business, offering a fresh perspective on the most pressing issues businesses face today—all while enjoying the guest’s favorite drink.

MIDDLETOWN, Conn., Oct. 30, 2024 /PRNewswire-PRWeb/ — Charles IT, known for providing cutting-edge IT solutions and compliance expertise, is excited to announce the launch of its brand-new podcast, One Pour Problems. Unlike their traditional tech-focused content, this podcast shifts the spotlight to business, offering a fresh perspective on the most pressing issues businesses face today—all while enjoying the guest’s favorite drink.

“We have leaned on a lot of smart and influential leaders throughout our journey at Charles IT. I am excited to be able to create a space to bring those leaders together to share their insight and memorialize it for others to lean on and what better way to do it than over a great drink!”

The podcast, hosted by Sal Marino, Director of Finance and Operations at Charles IT, aims to bring together the area’s top business leaders to discuss the real-world challenges they encounter. In the pilot episode, released on October 24, Marino sits down with Charles IT’s founder and CEO, Foster Charles, to give listeners a sneak peek of what’s to come in Season 1.

In each episode, Marino invites a special guest to join him for an engaging conversation, covering topics like post-pandemic workplace dynamics and company culture. The first two episodes feature Bryn Tindall, CEO and Founder of Rebellion Group and Michael O’Rourke, Nasdaq’s Head of AI & Emerging Technology.

Listeners can look forward to more than just inspirational stories too. That’s because each guest will also share their favorite drink along with the fun, personal story behind it. Plus, every episode wraps up with a friendly competition – a unique typing test challenge where guests try to out-type their predecessors in a lighthearted showdown!

“It is so exciting bringing the One Pour Problems podcast to life,” said One Pour Problems Producer, Caitlyn Raftery. “Sal has been a wonderful interviewer, and our guests have been outstanding. I can’t wait to see where this journey takes us,” she added.

The pilot episode of One Pour Problems is available to stream now on the Charles IT website, YouTube page, and Spotify. The first episode drops Monday, November 4.

To learn more about One Pour Problems and stay up to date on future episodes, visit www.charlesit.com/one-pour-problems-podcast/.

About Charles IT

Charles IT is a Connecticut-based Managed Service Provider (MSP) and the Northeast’s compliance expert, specializing in comprehensive cybersecurity solutions. Their proactive approach ensures that businesses remain secure, compliant, and resilient against cyber threats. For further updates and information, visit CharlesIT.com.

Media Contact

Charles IT, Charles IT, 1 (860) 344-9628, hello@charlesit.com, Charles IT

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SOURCE Charles IT

Technology

Dot Inc. and WEBTOON Entertainment Release World’s First Tactile Digital Comics

Published

4 mins ago

October 30, 2024

Hit WEBTOON series “Yumi’s Cells” and “Hooky” will be made available for free in braille on Dot Inc.’s Dot Pad technology, expanding access to more fans around the world

Key supporting assets available HERE

SEOUL, South Korea, Oct. 30, 2024 /PRNewswire/ — WEBTOON Entertainment, a leading global entertainment company and home to some of the world’s largest storytelling platforms, today announced a first-of-its-kind collaboration with social venture company Dot Inc. to create tactile digital comics. Through the partnership, popular WEBTOON series will be converted into braille on Dot Inc.’s innovative Dot Pad.

Dot Inc. provides barrier-free products and services to build inclusive public infrastructure for the visually impaired. Its tactile display, the Dot Pad, is the first smart tactile graphics display for the visually impaired, converting any input from a connected device into a tactile graphic.

Hit WEBTOON series “Yumi’s Cells,” by creator Donggeon Lee, and “Hooky,” by Míriam Bonastre Tur, will be the first two series to launch on the Dot Pad. Tactile digital comic versions of both titles will be available globally on the Dot Pad.

“The popularity of webcomics is at an all-time high and we thought it would be great if visually impaired individuals could enjoy them too. This is my first time exploring webcomics, listening to audio descriptions, and reading dialogue. It brought the imagined scenes vividly to life in my mind, and made the content even more engaging,” said Misook Go, the community manager at Dot, who is visually impaired herself. “I was especially curious about how the individual cells in ‘Yumi’s Cells’ looked, and being able to feel their shapes brought a new level of excitement.”

“Part of our mission at WEBTOON is to make webcomics more accessible for fans around the world,” said David S. Lee, Head of US WEBTOON. “Dot Inc. shares WEBTOON’s commitment to innovating for inclusivity. After making comics more accessible to people all over the world in a mobile digital format, we’re thrilled to work with Dot Inc. to create a new content experience for the visually impaired.”

“The new experience of engaging with webcomics through touch was very impressive. Even if you did not know Braille, the process of understanding through illustrations was fascinating, and I hope to help many people visiting the library experience the world through the new tactile opportunities provided by the Dot Pad,” said Monique E. Mariani, Braille instructor at the Braille Institute of America.

The Dot Pad is a real-time tactile graphic and multi-line braille display for the visually impaired and the blind. The Dot Pad is compatible with mobile devices and laptops via Bluetooth. It displays charts, graphs, images and visual data with 320 refreshable braille cells. Users can run their fingers over the display and perceive the image with their fingertips.

About WEBTOON Entertainment
WEBTOON Entertainment is a leading global entertainment company and home to some of the world’s largest storytelling platforms. As the global leader and pioneer of the mobile web-comic format, WEBTOON Entertainment has transformed comics and visual storytelling for fans and creators.

With its CANVAS UGC platform empowering anyone to become a creator, and a growing roster of superstar WEBTOON Originals creators and series, WEBTOON Entertainment’s passionate fandoms are the new face of pop culture. WEBTOON adaptations are available on Netflix, Prime Video, Crunchyroll, and other screens around the world, and the company’s content partners include Discord, HYBE and DC Comics, among many others.

With approximately 170 million monthly active users (as of the quarter ended June 30, 2024), WEBTOON Entertainment’s IP & Creator Ecosystem of aligned companies include WEBTOON, Wattpad–the world’s leading web-novel platform–Wattpad WEBTOON Studios, Studio N, Studio LICO, WEBTOON Unscrolled, LINE MANGA, and eBookJapan, among others.

About Dot Inc.
Dot Inc., a leader in solutions for the visually impaired, has introduced groundbreaking products like the Dot Watch, Dot Pad, and Dot Kiosk since 2015. Recognized as a CES Innovation Award honoree in 2023 and 2024, Dot is expanding partnerships across North and South America. Through collaborations with Google, Microsoft, and Apple, Dot drives global accessibility. With a strong focus on the Social aspect of ESG, Dot strives to address social challenges through technological advancements for people with disabilities.

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SOURCE Dot Inc.