Chattanooga-based startup, Text Request, a business texting platform, shattered 2020 annual growth estimates earlier this month by surpassing the $5 million revenue threshold. The company has enjoyed rapid revenue acceleration over the past few years. Text Request topped the $1 million annual recurring revenue mark in 2018 before hitting the $2 million ARR mark at the close of 2019. In June of this year, Text Request eclipsed the $3 million ARR mark on their way to their recent sales record.
“Earlier this year when the COVID-19 pandemic began wreaking economic havoc, we, just like countless others, were unsure how it would ultimately impact our bottom line,” says Brian Elrod, Text Request co-founder and CEO. “However, we ended up growing far faster than our most optimistic estimates, as businesses that usually are slow to adapt to change began adopting new communication strategies almost overnight.”
As COVID-19 forced organizations across North America to rethink their communication strategies, Text Request’s ability to facilitate personalized, contactless engagement stimulated increased demand from new customers and heightened usage rates by Text Request’s existing customer roster. Additionally, Text Request’s January rollout of a new Peer to Peer Texting feature facilitated millions of politically oriented conversations which helped drive record numbers of Americans to the polls throughout the year.
"It’s safe to say that 2020 is the year we’ve hit the ‘hockey stick’ growth phase,” says Mr. Elrod. “And it’s a testament to how resilient our team is that we’ve been able to accommodate such rapid growth while maintaining our strong customer service culture. At Text Request, we’ve long been committed to doing all the small things right over and over again, and this has been the year that all those little things have turned into big wins — bigger than we expected — across the board.”