ConvertKit at $43M ARR

We first covered ConvertKit at $33.5M ARR in 2022, growing 15% YoY, as one of the core players, along with Substack and Beehiiv, in the race to build the best tools for email newsletter creators. In 2023, we interviewed CEO Nathan Barry about emerging monetization trends—especially ad networks—and ConvertKit’s path to $100M in revenue.

Here's our Kit update with key points via Sacra AI:

Sacra estimates that Kit (formerly ConvertKit) reached $43M ARR in 2024, up 14% year-over-year from $38M in 2023, (not including transactional revenue from its ad network business) while maintaining 99.5% net dollar retention.
With its October rebrand and launch of the Kit App Store, Kit shifted from vertically integrated SaaS to a platform model akin to Shopify’s ecosystem strategy, enabling 15+ third-party apps to go live by year-end and creating new levers for expansion revenue and developer-led distribution—mirroring the bundling trend across creator SaaS as players like Kajabi and Stan seek to combat low ACV and high churn.
With the launch of Kit Studios and its first physical location offering free, high-end video and podcast production space to creators, Kit is extending its product surface offline to capture more multi-channel “creator CEOs”—echoing Kajabi’s bundling strategy and positioning itself as a B2B SaaS alternative to venture-backed platforms like Substack, which continue to struggle with 50-60% annual churn and negative revenue on subsidized creator advances.

For more, check out this other research from our platform:

ConvertKit at $38M ARR