Azure DevOps Startups

Carrot is a cloud-based employee recognition and rewards platform founded by Aaron Carr in 2018. Starting at 15K MRR in 2019 with mostly one large enterprise customer, the company has grown to 40K monthly net platform revenue with ~100 small-to-mid-market customers (50-200 employees) paying an average of $230/month for subscriptions, plus 3% take on employee reward purchases (digital gift cards). The bootstrapped team of six has achieved 109% net dollar retention and sub-15% annual churn through a combination of SaaS subscriptions and marketplace revenue.