About the Company

Refiner is a customer feedback and survey tool designed for data-driven SaaS companies. It enables businesses to gather insights from users, measure customer satisfaction through NPS surveys, and use this data to guide product development and increase retention. Founded by Moritz Dausinger, who previously bootstrapped two successful SaaS companies, Refiner launched in March 2020. Despite initial challenges, the company quickly scaled by focusing on organic growth channels like SEO, content creation, and a hands-on approach to product development. Refiner currently operates with a small but efficient team and has gained strong traction in the SaaS market.

Idea Behind Company

The idea for Refiner was born from a personal pain point experienced by Moritz during his time at Docparser, a document processing SaaS company he had successfully sold. As the company grew, Moritz found it difficult to gather relevant user feedback efficiently. Realizing there was a gap in the market for a simple, effective tool to survey and profile SaaS users, he began working on a solution that could address this need. Initially, Moritz did not conduct extensive user validation, which led him to spend months building a product without clear direction. Ultimately, he learned the importance of early feedback and iterating quickly.

Creating the Company

Refiner’s development journey was marked by early mistakes, particularly in the product design phase. Moritz spent a long time developing the tool without collecting enough user feedback, which delayed the launch and led to unnecessary detours. However, once he refocused, he began making progress quickly. By deleting most of the initial code and adopting a more agile approach, he set a goal to launch publicly within three months. Despite the challenges of launching during the COVID-19 lockdown, Refiner went live on Product Hunt in March 2020. Though the initial launch did not result in paying customers, it allowed Moritz to gather valuable feedback, which led to a pivot in direction.

Launching the Business

The official launch of Refiner took place on Product Hunt in March 2020. Although the launch was relatively successful in terms of visibility, it did not immediately generate paying customers, as expected. Moritz used this initial period to gather feedback and refine the product. Over the following months, he generously offered free accounts to early users, which helped build a loyal customer base. In July 2020, Refiner secured its first paying customer. This milestone marked the turning point for the company, and within weeks, the user base began to grow rapidly. By focusing on inbound marketing and SEO, Refiner steadily gained traction in the SaaS community.

Earnings

Refiner started generating around $16,000/month in recurring revenue by the end of 2020. The company's growth trajectory has been strong, with a consistent increase in its monthly recurring revenue (MRR). Much of the success can be attributed to the long-term impact of the company's SEO and content marketing efforts, which provide a steady stream of inbound leads. The business relies heavily on organic traffic, but also supplements this with paid advertising when necessary. Despite operating with a lean team and minimal resources, Refiner has demonstrated that a strong focus on customer feedback and targeted inbound marketing can drive substantial growth.