Arlington, VA — Three and a half years after being founded, Capterra realized its first quarter of profitability. Additionally, revenue doubled from the previous quarter.
"We actually started seeing signs of traction back in the Fall, shortly before our three year anniversary," says President Michael Ortner. "When we started Capterra, I didn't think we would reach profitability quite this soon, but I also didn't realize how long it would take for a new idea to catch on and generate revenue. I suppose that it all balances out and I am very proud of what we have achieved so far. Now that we are beyond the breakeven point, we can call ourselves a legitimate business, but we have a long way to go to truly fulfill our vision."
Each month, Capterra attracts tens of thousands of people who are researching software for their organizations. In order to be a truly comprehensive resource for buyers, Capterra offers all software vendors a free basic listing in its directory. Over a thousand software vendors have taken advantage of this, and many have begun upgrading in order increase their exposure in front of Capterra users.
"We landed our hundredth paying customer earlier this year and so far our vendors have been extremely pleased with the results," Ortner continues, "Our churn rate has been very low."