Thryv Sees Acceleration in Marketing Services Upgrades to SaaS Platform

Thryv Holdings (NASDAQ: THRY), (“Thryv'' or the “Company”), the provider of the leading small business SaaS platform, today announced accelerated adoption of its SaaS platform by customers from its legacy Marketing Services business.

“We are pleased to announce our Marketing Services customers are increasingly moving to our SaaS platform,” said Thryv Chairman and CEO Joe Walsh. “This marks an important milestone for Thryv as we scale operations, establish new centers, and drive profitable SaaS growth.

“It symbolizes our commitment to delivering an unparalleled customer experience to small businesses and sets the stage for Thryv’s continued success in the SaaS landscape.”

Throughout Thryv’s evolution, the SaaS business has been acquiring customers through three distinct channels – upgrades offered to its Marketing Services client base by its sales organization; referrals from existing SaaS customers; and new SaaS sales made by its premise and inbound sales units. Today’s announcement underscores the growing importance of legacy customers upgrading from Marketing Services to SaaS. Many of Thryv’s Marketing Services customers are adopting the company’s new Marketing Center, which provides them the ability to run ads, generate leads, and analyze marketing performance.

The SaaS platform offers inter-operable centers that enable small businesses to automate and modernize a range of critical day-to-day functions.

“The center-based approach is the game-changer that helps us accelerate SaaS subscriber acquisition, enhance the value we provide to our customers, and streamline our overall business by eliminating legacy systems in our Marketing Services business,” Walsh said. “We encourage SaaS adoption by our small business customers because it enables them to become more competitive long-term. Importantly, by year-end 2024 we expect our high-margin SaaS business to account for approximately 40% of total revenue.”

Business Model Evolution

Thryv has been prioritizing product and engineering investments to develop the center-based design. The SaaS platform eliminates the hassle for small businesses (SMBs) who become frustrated using various point solutions that do not speak to each other. Customers upgrading to Thryv’s SaaS platform find they can more easily automate their business operations because functionality is integrated and day to day tasks can all be operated from a single screen with a single login.