usage-based Startups

First Blood is a gaming platform built on blockchain that allows amateur gamers to compete against each other for money. The company conducted one of the fastest ICOs in crypto history in September 2016, raising approximately $5 million in under 5 minutes by selling 465,000 ether at $11 per token. The team liquidated 80% of the raised ether (372,250 tokens) immediately to fund operations, converting roughly $4 million into USD for salaries, marketing, and platform development.

June Group is an ad tech platform founded by Mitchell Rich in 2005 that connects brands with consumers through non-interruptive video advertising in mobile apps. The company bootstrapped profitably for 10 years before raising $28 million in mezzanine debt and a private equity investment in 2015, growing to 75 employees with consistent 10-25% year-over-year growth while maintaining profitability.

Widespace is a mobile ad tech platform founded by Patrick Figerland in 2007 that evolved from selling media to building enterprise SaaS technology. The company processes approximately $36-40 million in annual ad spend through its system, serving ~1,000 advertisers (including 75% of top 50 global advertisers like Procter & Gamble) and 500+ publications, generating ~$17 million in gross profit in 2016 with 130 employees. After raising $30 million in VC funding, Widespace shifted to a high-margin technology model charging usage-based fees (typically 50% of spend for demand-side, with supply-side cuts as well) rather than media margins.

Lead Crunch AI is an intelligent B2B demand generation platform founded by serial entrepreneur Olan Hyde that pivoted from a healthcare AI project to help mid-market companies find high-quality leads. Launched in September 2016, the company reached 90 lifetime customers with 55 active within 10 months, growing at 37% compound monthly rate with $200k in monthly bookings and $2M in trailing twelve-month revenue. The company operates on a hybrid subscription/on-demand model with 186% revenue expansion on customer rebookings.

Matchcraft is a 20-year-old ad tech platform that helps businesses run programmatic search, display, and social campaigns across multiple channels. Operating as both a managed service (70% of revenue) and SaaS model, the company charges between 12-17% of media spend for managed services and up to 7% for SaaS. Under CEO Sandy Lowe since 2016, Matchcraft has grown to ~100 employees across 43 countries and processes over $100M in annual media spend, consistently growing at 2x the industry rate.

Youths is a location-based mobile advertising company founded in 2008 that helps global brands target consumers at specific geographic locations like airports and retail outlets. By 2016, the bootstrapped company had grown to over $1M in annual revenue with a 15-person team based in Vietnam, serving approximately 30 agency customers through a CPM arbitrage model and partnership-driven sales strategy across 60+ countries.

M-Sites, founded by Scott East in 2003, provides data management and performance reporting services for large marketing departments. The company operates on a hybrid SaaS and professional services model, charging based on data volume (rows) integrated through APIs, FTP, or email, with free platform licenses to drive adoption and increase data integration opportunities. With less than 20 clients but an impressive $250,000 average contract value, sub-5% annual churn, and nearly $3.5M ARR, M-Sites has achieved strong unit economics and healthy gross margins (80%+ on platform, 70% on professional services) while remaining bootstrapped and largely relying on word-of-mouth growth.

Flash Talking is an ad tech SaaS platform founded in 2000 that uses real-time data to personalize digital advertising creative across multiple formats (video, desktop, mobile, OTT). The company generates revenue through incremental CPM charges on ad delivery, with 40 clients accounting for 80% of revenue including major advertisers like Walmart, American Express, Verizon, and AT&T. Operating at scale, Flash Talking delivers 15-40 billion impressions monthly and has been profitable since inception with 280 global employees.

Rubicon Project is a programmatic advertising platform that automates the buying and selling of digital advertising inventory across publishers, demand-side platforms, and agencies. Operating as a publicly traded company, it processes over 1 billion in advertising spend annually and takes approximately 20-25% of transaction value as revenue, generating around $250 million in annual revenue. Joe Pruse, Chief Revenue Officer, has been with the company for over 9 years and credits the company's success to rapid innovation, including technologies like header bidding and the Intogal acquisition, which continue to maintain competitive advantage in a fast-evolving industry.

Top Hatter is a mobile marketplace for live auction discovery shopping launched in 2012. Operating with a 25% take rate on transactions, the company processes about $1 million in daily transaction volume (roughly 100,000 items) with an average item price of $10-20, projecting $300-400 million in gross transaction volume this year with $80-100 million in revenue. The company has raised $35 million total capital, operates at break-even while reinvesting heavily in marketing with a 30-60 day payback period, maintains 80% gross margins, and has doubled year-over-year since launch.

Victor Richie founded TrendPie in April 2015, an influencer marketing agency that connects brands (primarily app developers) with mid-tier influencers on Twitter and Instagram. Instead of paying influencers to post, TrendPie pays them per share at a CPM of $25 per 100,000 impressions, significantly reducing costs. The company grew from $330K in 2015 to $900K in 2016 while bootstrapping entirely from revenue, working with 75+ clients and ~1,000 influencers, with 50% client retention.

Centro, founded in 2001 by Shawn Riecksecker, is a media operations software and managed services company that automates digital advertising across search, social, programmatic, and direct buying. In 2017, the company processed over $500 million in digital ad spend, generating between $110-130 million in revenue with 700 employees. After rebuilding their platform from scratch starting in 2013, they launched Basis in July 2016—a comprehensive ERP platform combined with a DSP and BI tools—to help agencies and brands manage digital advertising more efficiently.

ParkMobile is a mobile app and web platform that enables drivers to find, reserve, and pay for parking across nearly 300 U.S. cities by contracting with municipalities and private parking operators. Launched in 2009, they generate revenue through a flat convenience fee (typically 30-45 cents per transaction on-street, and percentage-based fees on off-street reservations). With 7.5 million registered users, 1.5 million monthly active users, and 250,000 new registrations per month, the company does well over $500,000 in monthly revenue and operates with a team of 106 based in Atlanta.

Influencer is the largest product review platform outside of Amazon with 4 million micro-influencers and 21 million product reviews. The company evolved from a market research panel (2010) into a social media-driven product discovery platform connecting major brands like Procter & Gamble, L'Oreal, and Estée Lauder with consumer reviewers. They've raised $9M in funding (friends and family ~$1M, Series A $8M from Ebates in 2015) and are tracking to ~$15-18M in annual revenue with healthy repeat customer relationships.

Real Content Network is an ad tech SaaS platform launched in 2015 that automates native advertising campaigns across publisher networks. Founded by David Beniollio, the company packages premium content with advertising and distributes it to multiple publishers via a revenue-share model (30-50% take rate). Growing from $30k/month in 2016 to $90k/month by December 2017 on $300k in monthly transaction volume, the bootstrapped six-person team in Canada now partners with 150 publishers.

WePay was founded by Bill Clerico and Rich Aberman in August 2008 as a group payments platform, but after struggling to monetize peer-to-peer payments, they pivoted to become a payments API for platform businesses like marketplaces, crowdfunding sites, and SaaS companies. Growing to low single-digit billions in total payment volume by 2016 and nearly $400M in reported acquisition price by JP Morgan Chase in October 2017, WePay became one of the most successful fintech APIcompanies by focusing on providing valuable payment infrastructure to software platforms rather than competing in the saturated consumer payments space.

Adaptive is a bootstrapped B2B marketing platform founded in 2010 by Patrick Shea and Kevin that uses proprietary data matching to connect offline and online audiences for account-based marketing in the display advertising space. Working with 225 clients including major publishers like TechTarget and SpiceWorks, they've grown to over $10M in annual revenue by charging on a CPM basis and delivering hundreds of millions of impressions monthly. Built by a lean 35-person team focused on automation and AI, they've maintained predictable recurring revenue through publisher partnerships while maintaining the flexibility of a bootstrapped, profitable business.

Polygraph Media is an ad tech company founded by Chris Treadway that helps brands run highly localized Facebook and Google advertising campaigns at scale. Starting as a social data analytics business in 2010, they pivoted to ad tech in 2013 after clients requested help optimizing ad spend. With about a dozen clients processing $10M in ad spend annually, they charge roughly 10% of spend and are launching a SaaS product in January to serve brands wanting to manage local campaigns in-house.

Rev Content is a bootstrapped content recommendation and native advertising network founded by John Lemp in 2013 that powers over 250 billion content recommendations per month for major media sites like Inc., Fast Company, Newsweek, and CBS. Operating with zero external funding and 150 employees across Sarasota, Silicon Valley, Bath (England), and India, the company processed $184 million in advertiser spend in 2016 with approximately 20% net revenue ($35-40M ARR), growing 50-100% year-over-year while remaining profitable since inception. Lemp built the business on a mission to democratize internet advertising and protect the open internet from duopoly control by Google and Facebook.

Rwango is a proximity marketing SaaS company founded in 2014 that uses Wi-Fi and Bluetooth beacons to help retailers send targeted marketing messages to nearby customers. The bootstrap startup has deployed across 500 retail locations worldwide, generating approximately $15,000 MRR with a pay-per-location ($25-30/month) business model. With zero churn and only a 7-person team based in India, Rwango is exploring blockchain integration and expanding into logistics and apparel tracking.