Jarvis has seen a significant expansion in top-line GMV over the past few months. They closed last week at ~$86k (a company record) and this week Jarvis is on track for >$90k. This also means they’re fast approaching the $100k target at which they expect to be cashflow positive from operations.
Perth and Brisbane also continue to scale rapidly – the time it’s taken to reach $250k annualised GMV has shortened from 40 weeks in Melbourne to 20 and 15 weeks in Brisbane and Perth respectively (see chart below), despite each being significantly smaller markets.
Jarvis has launched into Adelaide market this week.
Sales and Marketing
The marketing engine which is driving their growth continues to improve over time. Jarvis has consistently reached ~200 sales per week over the past month (vs. an average of 70-80 from January to June of this year), as a result of efforts to diversify their marketing channels and also optimise existing ones.
Their highlight metric is the Google click-through rate, which has near-doubled over the past 180 days. Higher click-through rates correlate directly with lower lead acquisition costs and that gives them a significant edge over competitors on Google.
The cost per booking across all channels currently sits below $50 (as it has for the past few weeks).
Jarvis stays optimistic that over the coming months they will be able to continue to grow sales volumes while sustaining low acquisition costs, particularly as they expand the focus on partnerships with strata managers and other companies.
Finally, as Jarvis has scaled the business they’ve been able to enhance the client and cleaner experience. In addition to the numerous feature roll-outs they’ve documented in previous updates, the increased demand-side liquidity has increased both the number of visits per cleaner and also the efficiency of routes.
The following graph maps clients ratings against cleaner retention since April 2019:
Jarvis hypothesis is that creating a superior cleaner experience (through the range of software and services that we offer our cleaners) also creates a superior client experience. As their user experience has improved, so to have their incremental operational costs.
Jarvis expects to see a continuation of this trend as they re-focus on automation in the coming months.
The following chart maps the decline in Jarvis operations costs as a % of GMV since Q3 2018.
Jarvis has raised $500,000 and is expanding to $1m round.
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