Confluence Startups

Churnly.ai is a SaaS analytics platform launched in June 2018 that helps companies understand and reduce customer churn using machine learning. Founded by Adam, a veteran entrepreneur who previously led user-generated content at The Guardian and built Blotter, the company spent $300K developing the MVP and has grown to 20 paying customers averaging $900/month in revenue. Currently generating ~$18K MRR with a 12-person team, the company is bootstrapped and burning $40K/month as it scales product and sales.

Penny.co is a procurement software and B2B marketplace platform founded by Mohamed Ibrahim and four co-founders that helps companies streamline procurement processes and save money on their SaaS and product purchases. The company uses a revenue-sharing model (0.5-15% take rate, averaging 7-10%) and charges an average of $1,000 per year per user, targeting medium to large companies with 20-100 user teams in procurement departments. Starting from ~$3,000-4,000 MRR a year ago (late 2021), Penny.co has grown to approximately $100,000 MRR with 60-90+ customers and recently raised $5 million at a $20-25 million valuation, targeting 4-5x growth during this funding round.