Customer.io: the $400M HubSpot of product-led growth

Today, we're excited to launch our report on Customer.io: The $400M HubSpot of Product-Led Growth. We’d love for you to read it and let us know what you think.

Customer.io is a customer messaging platform (email, SMS, and push notifications) that allows teams to build complex, behaviorally-targeted campaigns.

Raising just $4M en route to $20M in ARR and currently growing at 6% month over month, Customer.io has found an unusual kind of product-market fit: with engineering-centric marketing teams and technically-savvy growth and product people.

Next week, Customer.io will be raising on Republic as part of their next move: bringing together the technical and non-technical sides of the organization and building the all-in-one HubSpot of product-led growth.

Some key points from our report:

  • Customer.io is at $20M ARR growing at 70% YoY. That’s almost double their growth rate a year ago, reflecting both COVID tailwinds and upgraded net dollar retention as a result of their Premium plan keeping larger customers around longer.

  • The need for developer resources to install and maintain Customer.io is a churn liability. As even engineering-centric teams grow, their growth center of gravity can shift to non-technical roles in marketing and sales, increasing the odds that they will need to switch to a messaging platform friendlier to all parts of the organization.

  • Customer.io’s focus on developers makes Twilio both a potential competitor and acquirer. The $52B company acquired Segment ($3.2B) and SendGrid ($2B) to advance its customer engagement platform, and Customer.io could complete the loop between Twilio’s enterprise telephony and email offerings.

Check out the report for our full analysis, and let us know if you have questions or want to chat more.

Thanks!

Jan