Howey
Howey is enterprise execution software that helps CEOs and organizations accelerate strategy execution by connecting strategic initiatives to day-to-day activities across departments. Founded in 2012 as a services company generating $5.1M in revenue, Ulf Arnett transitioned to SaaS in 2019, experiencing a significant revenue drop to $2M but eventually recovering to $5.1M ARR with 96% from subscriptions. The company overcame a 60% churn rate by improving the product for managers and employees, reducing it to 0% between 2019-2021, and now helps customers achieve 8-24x ROI within 12 months.
Key Takeaways
- •Used cold email as primary growth channel
- •Reached product-market fit in Approximately 2-3 years (2019-2021 when churn reached 0%)
- •Got first customer via Cold calling CEOs with whom Ulf had prior services relationships or experience
- •Most effective channel: Cold calling CEOs directly
- •Monetizes with subscription pricing
Revenue
Traction
Tech
Why They Built It
Ulf observed that while CEOs develop strategies, there was no digital application to help accelerate strategy execution across the organization. Most companies relied on PowerPoint, Excel, or analog methods with no way to connect employee activities to revenue and profit improvements.
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