Socialsuite continues to increase it's annual recurring revenue (ARR), which has been driven by both new clients and existing client increases.
Notably, the Software as a Service (SaaS) platform for organisations to manage their social impact is on track to meet a major milestone of $1 million ARR by late 2019.
Socialsuite is also in the final stages of closing out a venture capital led $1.8 million pre-series A investment round.
READ: Socialsuite targets multi-billion dollar social impact measurement market with leading technology
Socialsuite is a way for both not-for-profit businesses to better report on the effectiveness of their work, and for government, philanthropic, and corporate funders to receive better insights on how their investments are being used.
Notable new customers
Marks & Spencer (UK)
Socialsuite was selected by Marks and Spencer as the technology solution to measure the impact of elements of their Plan A project, which is their way to help build a sustainable future by enabling customers to have a positive impact on wellbeing, communities and the planet.
St George Community Housing
St George Community housing provides housing to more 8,900 people across 4,700 in metropolitan Sydney. Following a competitive tender process, Socialsuite was awarded the contract to power their impact measurement.
New version of Socialsuite
August saw a significant release of Socialsuite. The new version has been designed based on customer research and the engagement of a high-calibre designer to assist in transforming Socialsuite to a self-service solution.
After seven months in the role of chief executive officer of Socialsuite, Brad Gurrie has reported that the business is progressing well against the company’s strategic initiatives.
Gurrie added: “As the business looks to complete its pre-series A round we have significant momentum with the signing of new deals, strong retention, the growth of existing customers and major product enhancements.”