We are pleased to announce the completion of our acquisition of Rewardful, a leading provider of affiliate referral and marketing software for B2B SaaS companies using Stripe. Founded in 2017 in Edmonton (Alberta, Canada), Rewardful Inc. offers software that provides a simple way for SaaS companies to set up affiliate and referral programs with Stripe. On average, 15-30% of the revenue of B2B SaaS companies should come via the affiliate channel, meaning every SaaS company can benefit from this customer acquisition channel. Moreover, affiliate customers tend to exhibit lower churn and higher average spend.
Rewardful’s value proposition is in helping SaaS companies of all sizes gain market traction via referral marketing, which is based on trust and relationships, and which helps cut through the noise in increasingly competitive markets. Rewardful automatically adjusts commissions for downgrades, upgrades, free trials, cancellations, and refunds. Furthermore, the solution can be installed in 15-20 minutes on average and doesn’t require code modifications or developer integrations in many cases. Moreover, Rewardful recently launched an Affiliate Finder, which allows its clients to find and partner with affiliates that share an affinity for their products.
We continue to see a strong use case for referral management software, which is due to the logistical nightmare of managing affiliates and partnerships manually. Dealing with payouts to third parties, monitoring and tracking affiliate or referral sales, and fulfilling physical goods (as is the case of eCommerce) is extremely complicated to handle manually. We will continue growing in this area, both organically, and via selective acquisitions.
Tim Schumacher, CEO and co-founder at saas.group, noted,
We look forward to our partnership with Kyle Fox and Brady Cassidy (Rewardful co-founders) on a journey to make Rewardful the leading provider of affiliate and referral marketing software to the B2B SaaS companies. We aim to continue to update and expand Rewardful’s services, including introducing additional payment integrations, and expanding the headcount to support significant growth.
Kyle Fox and Brady Cassidy commented that
We are very excited to partner with saas.group on our journey to grow Rewardful. saas.group team brings a strong operating capability, unrivaled knowledge of the SaaS space, and deep domain expertise in the affiliate market. They are the perfect partner to help us take Rewardful to the next level, which is great news for our customers.