About the Company

Morningscore is an SEO software-as-a-service (SaaS) company based in Odense, Denmark. Launched in January 2018, it stands out by gamifying SEO with a space exploration theme. Customers are referred to as "captains" and complete missions to level up their websites, improving their Google rankings in the process. The company operates with a small team of nine employees and is co-founded by Karsten Madsen.

The platform integrates a subscription model, offering users tools to optimize their digital presence while making SEO enjoyable and accessible. The company's commitment to gamification has attracted over 600 paying customers and achieved $55,000 monthly recurring revenue (MRR). Despite its niche appeal, Morningscore emphasizes creativity and user engagement.

Its branding and approach combine a serious focus on SEO with an enjoyable, game-like experience. This distinctive style has helped build a loyal customer base, though some may find its theme unconventional.

Idea Behind Company

The concept for Morningscore stemmed from Karsten Madsen's frustration with traditional SEO consultancy. After experiencing bankruptcy in his first business, he pivoted to SEO services, where he noticed a knowledge gap and mistrust among customers. Clients often relied on instinct and questionable advice from consultants, which highlighted the need for a transparent, user-friendly tool.

In 2015, Madsen envisioned a product that would demystify SEO for businesses, incorporating gamification to make it engaging. However, convincing his initial business partners to shift focus was challenging, and the idea remained dormant. It wasn't until 2017 that the team decided to commit to the project fully, setting the stage for Morningscore’s development.

This idea also aligned with Madsen’s passion for creating innovative solutions and building something impactful. He infused his interest in space exploration into the branding, making the platform distinctive in a competitive market.

Creating the Company

Development of the Morningscore tool began in 2017 with a focus on gamified features. The prototype was conceptualized in Excel, allowing Madsen to iterate rapidly. Although no customer validation was performed during initial development, the team focused on creating an intuitive design to attract early interest.

Significant challenges arose, including underestimated development timelines and financial constraints. Despite being an experienced agency, the team miscalculated project scope, delaying progress. However, the decision to hire a professional designer early on paid off, ensuring the tool looked polished and professional before its launch.

Funding remained a hurdle, but with a $150K angel investment, the company sustained operations during its first year. This small budget required efficient use of resources and strategic prioritization.

Launching the Business

Morningscore adopted a strategic launch approach inspired by Hotjar’s playbook. In early 2018, the team introduced a free beta version to generate awareness, securing 4,000 beta users. These efforts included cost-effective marketing strategies such as LinkedIn outreach and low-budget newsletter sponsorships.

The full product launched in September 2018 with 30 paying customers, transitioning from beta users. However, the team quickly realized the product's limitations and struggled with a high cost of customer acquisition (CAC). Iterative improvements and better funding later optimized these metrics.

To sustain early growth, Morningscore secured a $500K loan from a Danish public fund in 2021, enabling the company to approach cash-flow-positive operations and scale its marketing efforts. Updates, including the October 2021 launch of version 3, have kept the platform relevant and appealing.

Earnings

As of 2021, Morningscore achieved $420K in annual revenue with an MRR of $55K. The company maintains a healthy CAC-to-lifetime value (LTV) ratio of 1:4, reflecting efficient financial performance. Early funding challenges were mitigated by strategic reinvestments and a focus on improving conversion rates.

Morningscore continues to grow steadily, targeting additional investment to double its team size and enhance product offerings. Its revenue growth has tripled year-over-year for three consecutive years, and future plans include scaling operations and expanding its customer base.

The company attributes its success to a mix of creativity, adaptability, and a dedicated team, positioning itself as a standout player in the competitive SEO tools market.