The beloved SEO toolset provider announced it will be going public. The stock will be listed on the New York Stock Exchange under the ticker SEMR. It shared its performance numbers including revenues of $144 million, gross profit of $95 million with a net loss $7 million.
In the past year they spent $54 million in advertising to gain customers as quickly as possible after getting an influx of cash with a funding round of $40M in 2018. That helped raise their paying customers number to 67,000 last year.
Here is Semrush's highlight slide from the SEC filing documents:
Dan Barker tweeted the highlights from the SEC filing and Rand Fishkin, the founder of Moz who left the company a while back, shared his thoughts as well:
Really impressive what they've done the last 6 years.
— Rand Fishkin (@randfish) March 2, 2021
SEMRush went from 3rd/4th place in SEO software, to a clear #1 in revenue & growth rate.
Ahrefs is #2 at ~$55-75M, with Moz in 3rd (~$45M)* at a slower growth rate (after leading for years prior).
*those are guesses, BTW https://t.co/87ieR3RvW8
Super interesting to see his perspective.
Here are the highlights Dan shared:
Their timeline states they passed 50,000 customers in 2019, meaning roughly 10-15k customers added across 2020. pic.twitter.com/0gpaZq0tTV
— dan barker (@danbarker) March 2, 2021
More granular detail on the last 2 years:
— dan barker (@danbarker) March 2, 2021
ARR per paying customer:
Dec 2019 - $1,892
Dec 2020 - $2,123
# Paying Customers:
Dec 2019 - 54,000 ($102.6 million ARR)
Dec 2020 - 67,000 ($144.2 million ARR)
Their online learning program has had 300k signups, and 130k completions. pic.twitter.com/PakBVy2H3X
— dan barker (@danbarker) March 2, 2021
The marketing & sales team alone is 308 people (there are 980 staff in total, meaning almost 1/3 sales & marketing) pic.twitter.com/OV78RLrTFq
— dan barker (@danbarker) March 2, 2021
Congrats to all the Semrush employees and partners - wishing you all much success!
Forum discussion at Twitter.
