Summary
EspoCRM, co-founded by Oleksii Avramenko, is an open-source CRM application aimed at small and mid-size businesses. Launched in 2014, the platform offers a feature-rich, customizable, and budget-friendly solution to manage customer data, sales cycles, and automate routine tasks. With an average of over 16,000 downloads per year, EspoCRM has successfully established itself in the CRM market, generating up to $30k monthly revenue.

Unique Aspect
EspoCRM sets itself apart by being an open-source and highly adaptable CRM solution that can be tailored to a wide range of industries without requiring extensive coding.

Approach to kick off
The founders, leveraging their previous experience with CRM systems, identified a market gap for a universal, affordable CRM solution. This insight led to the development of EspoCRM, focusing on flexibility and industry-specific customization.

Scoop

Business Model Viability
The business model, focusing on offering an open-source, customizable CRM solution, is effective and could be a viable approach for similar software solutions targeting small and mid-sized businesses.

Future Projections
Plans to expand the software's capabilities, launch a partnership program, and potentially move upmarket.

Startup Stats

📊 ARR: $360,000

📈 MRR: $30,000

🚀 Startup Costs: $10,000

👥 Team Size: 3

🌍 Market: Focused on small and mid-size businesses

👨‍💻 Users: More than 16,000 downloads per year

💰 Funding: Bootstrapped with an initial investment of $10,000

👨‍💼 Founders: Oleksii Avramenko