LAST UPDATED April 30, 2019
Happy third anniversary to this blog post!
How big is Zapier?
As Zapier’s first-ever Trusted App Developer, we get asked this question all the time.
Since I first wrote this post THREE years ago, Zapier has grown tremendously and is more public about its astounding success.
Here's the latest on Zapier's key metrics:
ZAPIER REVENUE: $50 Million ARR*
*WILD ASS GUESS 4/30/2019: As you'll read below, Zapier is now reporting 100,000 paid users, up from 60,000 in March 2018. For the sake of easy math, let's assume that growth was linear across the 12 months (March 2018 to February 2019).
By this math, Zapier is adding ~3,000 paying accounts a month. If that's true (unlikely- companies rarely grow on a straight line), Zapier should have added ~25,000 paid users between March 2018 and December 2019, for a total of 85,000 paid accounts when Fast Company reported the $50 million ARR mark.
If my math is correct, this would equate to about $50/month of revenue for each paid customer... which means Zapier is likely inching up to the $60 million ARR mark this month.
And now for a really WAG... if these projections hold, revenue should cross $100 million sometime in 2021.
Pretty impressive for a company that is effectively bootstrapped by modern software startup standards.
ZAPIER USERS: 3 million+
UPDATE: 4/30/2019: Fast Company reported last December 2018:
Now, Zapier’s automation service is growing faster than ever with 3 million registered users, up from 2 million in January and one million in May 2016.
As we like to say here in New Hampshire, that's wicked growth!
Interestingly, Zapier's total number of users is still ~3 million- suggesting that Wade and the team has done a solid job this past year of forcing formerly free users into a paid plan.
Considering the very small number of tasks available with its free plan, Zapier isn't really a freemium product anymore, but it sure is sticky- to the tune of +40k new paid users in the past 12 months.
ZAPIER APPS IN THE ZAPBOOK: 1,300+
UPDATE: 9/20/2018: Entrepreneur Magazine profiled Zapier and states 1,300 as the number in Zapier's App Store. Of course this number gets stale quickly, since Zapier releases an average of three new apps per day, according to their Head of Partnerships.
ZAPIER HEADCOUNT: 200 Employees
UPDATE: 4/9/2019: CEO Wade Foster confirmed on the Future of Work Podcast that Zapier is holding stead at 200 employees.
All of Zapier's employees work remote, a unique feature that Foster gets asked about in interviews.
ZAPIER VENTURE CAPITAL FUNDING: $1.2 Million
Just $1.2 million according to multiple sources, including Crunchbase.
This news story from Silicon Prairie News announced Zapier's first fundraising round in October, 2012:
Zapier, which makes a platform for syncing data between web applications, today announced a $1.2 seed round featuring investment from Bessemer Venture Partners and Draper Fisher Jurvesten. The round also includes investment from a pair of Columbia-based investors, Brant Bukowsky and Brent Beshore, as well as Wufoo co-founder Kevin Hale, Michael Liou, Kim Miller, Jon Murray, Mike Stachowiak and Ben Li.
Foster also told Calacanis that they had achieved amazing growth with just a single round.
From his March 2016 interview:
Calacanis: And you’ve only raised $1 million?
Foster: One million and change, yeah.
Calacanis: You’re capital efficient, huh? You’re making more money per year than you’ve raised!
That’s the way to do it. That’s it.
Foster: …Capital efficiency is back in style, thank goodness.
Calacanis: But You’ve only had to dilute 20% of your cap table!
Foster: I very much like that.
Calacanis: So you get to own this huge chunk of your own company, and be in control of your own destiny. That’s good. You’re doing it right, Wade.
Foster: We’re trying to do the triple triple, double double double thing that investors talk about…. eventually before you know it, you’re a $30 million revenue business.
Citation Date: This Week in Startups, March 1, 2016