Culture and company
December 27, 2021

Results of 2021: 50% growth, 200 new team members, outcomes and future plans.

Key points of our growth in 2021: numbers, success and customer stories, product updates, improved reliability and safety, human resources, and corporate culture. See this along with our plans for 2022.

Total revenue: $12.6 million – 50% more than last year

Investments: Baring Vostok, has invested $13 mln into Mindbox. We plan to use the funds to launch new products and further develop existing products, as well as for mergers and acquisitions. Mindbox has already invested this money into Letteros, which is an email builder toolkit. The plans also involve creating more mutually beneficial partnerships that add value for our clients.

Clients: As of December, 2021, 592 companies are working with us. Over the last year our client base has also increased by 236 new companies. These include Decathlon, Modulbank, Galamart home stores, the YaKlass educational resource, SimpleWine wineries, and Respect shoe stores

Team: Today,our team is made up of 203 specialists. 64 of our members joined in 2021. Their average salaries increased by 19% over the year.

The Mindbox team: summer of 2020.
The Mindbox team: summer of 2020.
The Mindbox team: summer of 2021
The Mindbox team: summer of 2021

How we created value

Business Use Cases: 60 new cases on marketing personalization and revenue growth were published. For example, Mindbox attracted clients such as METRO, Tefal, Burger King, the MIF Publishing House, Miele, Orby, Birkenstock, Tom Tailor, and Bausch + Lomb.

Read about interviews with top managers about data-driven decision making:

METRO's E-commerce brings ~$230 million a year. That's 10% of METRO's revenue in Russia

Publications on Marketing and Business: Mindbox Journal published lots of new articles with marketing and business hacks.  For example, how to save on cascade chains, measure the effect of your loyalty program, and construct a CJM.

Mindbox Mentions in Mass Media: A surgeon and programmer founded an IT company that now brings hundreds of millions in revenue — how psychotherapy and quitting smoking helped — by Inc.

We Focused on the Product, and Enhanced the Notification System for Product Details:

This year 66 clients left us. The main reasons were:

  • the business was closed or paused, due to the effects of the Covid-19 pandemic.
  • we need to improve certain products and services

In order to communicate with decision makers on the client side, as well as synchronize expectations, a check limit was introduced by Mindbox. This means that managers are now focused on medium and large clients, while partner agencies help deal with small companies. They also hired an additional 22 managers, and expanded chat support to assist agencies.

We help large clients optimize their Mindbox costs by reducing the cost of data storage and adding a convenient deletion function.

We admit to delaying our reporting and also re-designing. We therefore no longer promise release dates for new features, except for those that are currently under development. Mindbox has recieved extra funding from investors and we are now accelerating.

We have also received a lot of feedback from customers regarding the lack of information about product updates and plans. As a result, we now talk about it more often in digests, hold more webinars, and show tips with updates on the platform.

Mindbox Improved the Product and its Reliability:

We released hundreds of platform updates. The most prominent among them are:

  • A visual script builder that helps marketers launch mechanics faster.
  • The Website Personalization module received a total revamp.
  • The "Ad Optimization" module hit the market this year in order to help release segmented adverts to customers through the use of Google, Facebook, MyTarget and other platforms.
  • The built-in integrations were updated for IIKO, SetRetail, and Frontol.
  • We saw accelerated integration of the platform with mobile applications using the SDK.
  • The ability to see where data and entities are used, in order to remove unnecessary ones and save money.
  • Updated product management interface, which marked the beginning of the redesign of the main pages of the platform.

Realiability: November saw the highest workload: over one billion messages sent, over 15 billion requests processed (with just 8.75 bln previous year).

Internal SLA violations  that an average customer has each month

Security: a new team was set up to ensure information security. Penetration tests became regular, and the infrastructure is scanned for vulnerabilities every month, not year, as before. Passwords now have their expiry dates. Also, the system blocks a user after three unsuccessful login attempts.

In 2022 Mindbox plans to get ISO/IEC 27001 certified. A SOC 2 Type 1 report is on the agenda, too.

2022 Plans:

We will maintain our client base growth rates and we expect a growth of 40% this year.

The investments will help us double the engineering department and accelerate product development. Here are some improvements that we have already launched:

  • Reports,and integration with BI.
  • New look for the interface.
  • New built-in integrations with external services.
  • Additional communication channels.
  • The development of a new media module.
  • Personalization of mobile apps, in-app.
  • Online showcase management.

Our biggest goals are to make Mindbox more accessible and self-usable.

We will host the second conference on “Useful Marketing”, which will present us with an estimated 1000 attendants. Business breakfasts are organized to take place in Moscow, Minsk, St. Petersburg, and Yekaterinburg. We will also organize 20 webinars with reps from our clients. We will also participate in the CDP Battle, as well as the Electronic commerce 2022 conference, the Ecom Expo 2022 conference, and the RetailTECH 2022 conference.

Finally, we will release 50 more success stories of our clients, more digests on platform updates, educational articles, interviews of decision-makers and entrepreneurs, as well as insightful publications in mass media.