Bismarck-based startup CoSchedule announced they hit $2 million in annual reoccurring revenue last month. The startup provides a drag and drop editorial calendar tool for marketing teamsthat has only grown in traction since their launch in 2013.
Co-founders Garrett Moon and Justin Walsh attribute the growth to a few factors, including a recent focus on features such as social templates for faster scheduling. The new feature, according to the co-founders, helped add $4,000+ in expansion MRR (monthly recurring revenue) over a single month during May. This means that their best selling plan now adds $70+ per month in new MRR.
“These numbers serve as yet another reminder that our company has come a long way since our early days as a low-cost product at only $10 per month,” they said.
Moving forward, the co-founders announced some new features in the works including; new guided calendar tours for new users; new calendar plan trials that allow users to try the plan one step above their current plan; a social media campaign option; a beta release of a social media automation option.
This announcement comes after a year of strategic planning and hard work to move customers to a higher priced model, Moon said.
“More than anything, I am most proud of the fact that our ‘Team Marketing’ plan which retails for $79/month is currently our best selling plan – something we could have only dreamed about just a few months ago,” Moon said.
CoSchedule was founded in Septemeber of 2013 after Moon and Walsh saw a need for a simple scheduling platform simple scheduling platform that combines content marketing and social media. Not two years later, Moon and Walsh hit a milestone when they were selected to present CoSchedule at Google’s Demo Day in April 2015. Later that year, CoSchedule outgrew its original parent company, web service provider Todaymade, which was then acquired by MABU.
The company has since tripled in size, with headquarters both in Bismarck and in Fargo.
Here’s the video they made as a thank you to their customers. You might even spot Fargo celebrity dog, Beans.
https://coschedule.wistia.com/medias/qxldug7fgd
