Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowRevenue growth FY 2022 to 2024: 77.46%
2024 revenue: $12.97 million
Three-peat: When Factur was a Fast 25 company the first time, co-founder Caleb Townsend described the business as “about 1% of what it could be.” And now, two years later and on the Fast 25 for the third consecutive year, it’s 2.5%, he said with a smile.
Helping B-to-B: Factur helps business-to-business manufacturing suppliers—the people who provide goods and services to manufacturers—by providing sales and marketing services that include e-commerce websites, advertising and PR. “High-level sales and marketing is rarely a specialty for the B-to-B manufacturing market,” Townsend said. “So not only do we take that headache away, but we do it more effectively than our clients could do it on their own.”
Exclusivity: Factur works only in the B-to-B manufacturing market. What that means, Townsend said, “is that in a market that is traditionally known for being technically minded and engineering minded and not sales and marketing minded, we’re able to remove that bottleneck of growth for them. Most people in B-to-B manufacturing are good at shop-floor operations and equipment, but they’re not good at sales and marketing. By outsourcing that to us, they’re able to grow their business without having to deploy resources toward an area of the business that they’re just not naturally wired for.”
Rapid help: Townsend said that on Feb. 1, Factur launched a client and, within a month, that client got a $200,000 purchase order that it projects will turn into $2.4 million of business. “So, not too bad for a $60,000 annual investment” in Factur’s services, he said. Factur also has launched websites that have helped rebrand its clients and bring traffic to their website. “We get known as an outsource-sales agency. We also are an outsource-marketing agency, too.”
In the offing: Townsend said the company is developing in-house software that mostly is being used to help the efficiency of its services. He’s also looking to potentially take that software to market “so our clients can have access to the software that we use when they want to do the service for themselves.” Also, Factur is going upmarket with the size of companies it serves. “We will be serving larger companies and expanding our marketing services offering. We’ve already done this, but we’re going to grow it even more.”•
Check out more of IBJ’s ranking of Indy’s fastest-growing companies.
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