Jan-Erik Asplund
TL;DR: After Intercom’s growth slowed to 10% YoY in 2023 as customer services teams shrank, Sacra estimates that Intercom hit $343M in revenue in 2024, re-accelerating to 25% YoY growth as it layered AI into its tiered per-seat pricing to raise their revenue per seat and add a usage & outcome-based component. For more, check out our full report and dataset on Intercom.
When we last covered Intercom in July 2023, the $250M/yr company had just launched their LLM-powered chatbot product Fin. We interviewed Eoghan McCabe and Des Traynor to learn more about their “bet the company” move into AI.
Here’s our end-of-year Intercom update with key points via Sacra AI:
- Sacra estimates Intercom re-accelerated in 2024, hitting $343M in revenue at the end of 2024, up 25% year-over-year, after having decelerated to 10% growth in 2023 when shrinking customer service teams meant that previously-reliable net dollar retention dropped off a cliff in a lack of seat additions and an increase in seat reductions & downgrades.
- Intercom has kept tiered per-seat pricing in place—layering in AI as a base feature to raise the revenue per seat and add a usage & outcome-based component of 99 cents per AI-resolved ticket through its Fin agent (down from $1.90)—driving upgrades to higher price per seat tiers based on feature differentiation across its SaaS platform and its AI offering.
- While autonomous AI-native agent startups like Decagon ($100M raised, Accel) and Sierra ($285M raised, Sequoia) aim to that automate high volume ticket resolution and replace BPO support centers, Intercom offers AI agents as part of an all-in-one customer service SaaS platform that includes an AI copilot to augment the human-in-the-loop support agent, ticketing system, knowledge base, automation & workflows, reporting & analytics and more.
For more, check out this other research from our platform:
- Intercom (dataset)
- Intercom's $250M/year AI bet
- Eoghan McCabe & Des Traynor, CEO and CSO of Intercom, on the AI transformation of customer service
- Gorgias at $69M ARR
- How AI is transforming B2B SaaS
- Colin Nederkoorn, founder & CEO at Customer.io, on the CDP layer in messaging
- Klaviyo: the $665M/year HubSpot for ecommerce
- Brian Whalley, Co-Founder of Wonderment, on Klaviyo's product-market fit
- Klaviyo (dataset)
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