Hello, and welcome back (to some of you, at least) from quarantine. Although things may look as though they’ve reached a new normal, our present equilibrium still includes a number of glitches. In May, in addition to the usual outages due to overloaded servers, we also have outages due to failures of partner monitoring, plus – an Anodot first – a pizza arbitrage issue. Is it true that you can make money by selling pizzas to yourself?
Revenue monitoring not only involves monitoring huge amounts of data in real-time but also finding correlations between thousands, if not millions, of customer experience and other metrics. Are traditional monitoring methods capable of detecting a correlation between a drop in user log-ins and a drop in revenue as it’s happening? For many reasons, the answer is no.
There’s no question that subscription-based businesses are an incredibly popular revenue model in today’s economy. While single transaction revenue models tend to fluctuate due to the seasonality of markets, subscription plans offer much more consistent and predictable revenues. Although the subscription revenue model can certainly be advantageous over one-off transactions, these businesses are also notoriously challenging to keep subscribers active on their plan.
Even though most of us have spent this month working from home or furloughed due to COVID-19, glitches certainly haven’t been taking a break. We’re still relying on intricate software systems to keep the world moving, and we have little ability to maintain them in person. What’s more, changing usage patterns have stressed global networks in ways that are hard to anticipate. As a result, we find ourselves in a perfect storm for technical outages.
As online commerce has boomed, many companies now manage a large number of revenue streams from a variety of sources including micro-transactions, single purchases, and subscription plans. Now that revenue models have become much more complex and fragmented, many companies have realized that their traditional systems simply aren’t capable of the scale and granularity required for accurate revenue monitoring.
I’m very pleased to announce that we’ve secured an additional $35 million in funding, bringing our total capital raised to $62.5 million. Intel Capital led our series C fund, along with support from SoftBank Ventures Asia, Samsung NEXT and La Maison. Existing investors Disruptive Technologies L.P., Aleph and Redline Capital Management also participated. Over the past year, we doubled our revenue.
It has certainly been quite a month. With millions of workers forced to stay home due to COVID-19, or in some cases laid off altogether, the world’s networks have been under some unusual strains. Let’s see how that’s played out during this month in glitches.
As the COVID-19 outbreak progressively impacts the world, many companies are grappling with the strain. It’s a very uncertain time for business right now. Even with so many factors out of your control, but there are a few things you can do proactively to protect your business. Keep your customers happy. Do everything you can to provide the best customer experience and remedy leaks early.