Keeyu's first 18 customers were onboarded at introductory pricing before the full product suite launched. They were grandfathered at their original rates for 12 months.
The latest cohort of 11 new customers are paying the current rack rate, averaging A$34K ACV. The gap between what the original 18 pay and what new customers pay for the same product is the NRR expansion engine. As grandfathered customers renew and migrate to rack rate, revenue expands without adding a single new logo.
Not all customers have expanded yet - expansion depends on where each customer is in their journey from Base monitoring to full Automation. As Keeyu accelerates automation rollout, more customers will move up-tier, unlocking additional ARR from existing logos.
These are Keeyu's first 18 customers, onboarded at introductory pricing and grandfathered for 12 months. The numbers below reflect this cohort only.
| Metric | Value |
| Contracted ARR (Jan 2026) | A$209,400 |
| Current ARR (Apr 2026) | A$283,800 |
| Rack Rate ARR (what new customers pay) | A$487,836 |
| Expansion: Contracted - Current | +A$74,400 (+36%) |
| Unrealised expansion to rack rate | +A$204,036 (+72%) |
| Customers in cohort | 18 (grandfathered) |
| Logo churn | 0 |
| Revenue churn | 0 |
| NRR | 108% |
All figures are ARR. Contracted = Jan 2026 (grandfathered rate). Current = Apr 2026 billing. Discount = gap between current billing and rack rate.
| Customer | Contracted ARR | Current ARR | Rack Rate ARR | Discount |
| Decjuba | A$24,000 | A$36,000 | A$76,200 | 53% |
| EHP Labs | A$18,000 | A$35,400 | A$60,600 | 42% |
| Muscle Republic | A$18,000 | A$27,000 | A$49,200 | 45% |
| Bronze Snake | A$15,000 | A$22,500 | A$55,200 | 59% |
| Tony Bianco | A$15,000 | A$22,500 | A$22,500 | 0% |
| Camilla | A$18,000 | A$18,000 | A$27,000 | 33% |
| eShopping Group | A$18,000 | A$18,000 | A$31,512 | 43% |
| Chief Nutrition | A$12,000 | A$18,000 | A$24,312 | 26% |
| Kivari | A$12,000 | A$18,000 | A$27,000 | 33% |
| Who is Elijah | A$12,000 | A$12,000 | A$12,000 | 0% |
| Briscoe (Rebel) | A$12,000 | A$12,000 | A$12,000 | 0% |
| Budgy Smuggler | A$3,600 | A$11,400 | A$36,000 | 68% |
| A Man & His Cave | A$7,800 | A$9,000 | A$16,512 | 45% |
| 2XU | A$6,000 | A$6,000 | A$6,000 | 0% |
| Clutch Glue | A$6,000 | A$6,000 | A$5,400 | -11% |
| La Casa | A$4,200 | A$4,200 | A$4,200 | 0% |
| Five by Flynn | A$4,200 | A$4,200 | A$4,200 | 0% |
| Helly Hansen | A$3,600 | A$3,600 | A$18,000 | 80% |
| TOTAL | A$209,400 | A$283,800 | A$487,836 | |
| Average ACV | A$11,633 | A$15,767 | A$27,102 |
These 11 customers are on full rack rate with no grandfathered discounts.
| Customer | ARR (Rack Rate) |
| The Oodie | A$90,000 |
| Boardriders | A$61,800 |
| IM8 | A$52,020 |
| Puma | A$34,500 |
| Mister Zimi | A$27,000 |
| Alternative Brewing | A$17,250 |
| Elliat | A$18,900 |
| Okanui | A$18,900 |
| Pharmacy Online | A$18,600 |
| Desky | A$17,250 |
| Life Interiors | A$15,300 |
| TOTAL | A$371,520 |
| Average ACV | A$33,775 |
The product has three tiers, each unlocking more value:
| Tier | What It Does | Expansion Trigger |
| Base | Real-time monitoring + issue detection | Entry point. Gets customer on platform |
| Automate | AI workflows + automated resolution | Customer sees value in detection, wants automation |
| Omnichannel | Multi-brand, B2B, Ship-from-Store, Click & Collect | Operational dependency - expand to all channels |
The expansion path is natural: brands start with visibility (Base), see the issues Keeyu detects, then want automation (Automate), then expand across their full operation (Omnichannel). Every tier upgrade increases ARR without adding headcount or acquisition cost.
Zero churn + 108% NRR = compounding revenue machine.
That's the unit economics investors look for at seed.