A SaaS Lending Story:
Cirrus Insight
Formally known as Zynbit, Based in Raleigh, North Carolina, Cirrus Insight is one of the most popular applications on the Salesforce AppExchange. It builds intelligent sales automation for the next generation of leaders focused on revenue growth while delivering outstanding customer experiences. Cirrus Insight helps companies leverage real-time information to out-maneuver the competition, acquire and retain their ideal customers, and attract top talent.
Learn more about Cirrus Insight
The Challenge:
Focused on helping customers refine and grow their sales, ZynBit, now known as Cirrus Insight, began exploring funding solutions that would help them do the same.
The Solution:
ZynBit partnered with River SaaS Capital for non-dilutive debt funding to build sales and marketing teams as well as a strategic sales intelligence roadmap.
The Result:
Zynbit has achieved strong growth goals since its funding and has successfully built out its teams to continue that growth into the future, leading to its merge with Cirrus Insight.
The Challenge
ZynBit was founded in 2009 and had worked diligently to build its ARR and product since then. In 2018, the company was ready to scale up to the next stage. As a SaaS platform focused on integrating strategic business data into Salesforce to help companies boost sales performance and increase efficiency, ZynBit understood the importance of having a sales intelligence roadmap to further refine its own sales strategy. However, additional sales and marketing talent would be needed to develop and execute on that roadmap. Now they have merged and are known as Cirrus Insight.
“The River SaaS Capital partnership is strategic for us at this stage, helping Cirrus Insight to manage scale, cash flow, and dilution.”
The Solution
ZynBit, now known as Cirrus Insight, began exploring options for growth capital and was referred to River SaaS Capital. We began having conversations around our non-dilutive venture debt financing solutions and how they could help Cirrus Insight achieve its goals. River SaaS Capital also went to meet the Zynbit leadership team at its North Carolina office and demo its product. We were so impressed that we connected ZynBit with our sister company, TRG, whose sales teams would be able to put the Zynbit Salesforce integration to use.
“River SaaS was the only company that was interested in our business itself and how we think about growth rather than growth as a formulaic perspective,” said Zynbit and now Cirrus Insight CEO Phil Dixon. “They took a true partnership approach toward working with us.”
River SaaS Capital completed funding for Zynbit in Q4 of 2018 and provided additional tranches in early 2019 to help Zynbit, now called Cirrus Insight maintain its growth trajectory.
The Result
“The River SaaS Capital partnership is strategic for us at this stage, helping ZynBit to manage scale, cash flow, and dilution,” said Phil Dixon, CEO at ZynBit. “We’ve been impressed with the River SaaS team’s responsiveness, flexibility, and knowledge of our needs. We’re thrilled to join the River SaaS family.”
Zynbit has put its growth capital to great and effective use. The company has invested in talent acquisition, adding several key marketing and sales positions to its team. Additionally, funding has been used to build out the Zynbit brand via content marketing and other initiatives to further establish and share the company’s Salesforce experience.
To date, now called Cirrus Insight, has achieved impressive performance with 100 percent year-over-year growth. The company benefits from exceptional low churn and high net revenue retention, both of which are carefully monitored thanks to the KPIs and other metrics that Cirrus Insight is following diligently as they grow their ARR.
“Cirrus Insight is an impressive organization,” said Wendy Jarchow, Chief Investment Officer of River SaaS Capital. “The way the company thinks about its business and puts processes in place to achieve goals is outstanding. We’re thrilled they chose River SaaS as their capital partner and look forward to working with them to accelerate their growth.
Looking for Growth Capital?
If your company is considering its growth capital options and can relate to the scenario in this case study, we’d enjoy an opportunity to speak with you and learn more about your SaaS platform. Contact us today to learn more about our funding solutions.